From TradingView · · 1m
ETH 1H: Sweep and CHoCH Confirmed, Long into Wave 5
ETH price confirmed to enter wave 5 after sweep and CHoCH signal on Bybit spot.
In brief
ETH price confirmed to enter wave 5 after sweep and CHoCH signal on Bybit spot. ETH price holds above Fibonacci 0.236 level after sweep and CHoCH confirmation, signaling potential wave 5 move. Originally reported by TradingView.
ETH in wave 4
ETH swept an earlier low inside buy zone and closed above sweep on 1H chart.
Fibonacci pullback zone
Pullback zone runs from 0.382 down to 0.236 line at 2357.10 on Bybit spot.
Sweep and CHoCH confirmed
Price briefly took out earlier low triggering stops then bounced back above sweep high.
Entry signal
1H closed above sweep candle high confirming change of character for wave 5.
Trade plan
If price holds above fibonacci 0, wave 5 carries price to end of wave 1.
Current position
Three entries made before 1h choch printed, holding for wave 5 completion.
What to remember
ETH price holds above Fibonacci 0.236 level after sweep and CHoCH confirmation, signaling potential wave 5 move.
