Phillipklh

thereum currently presents two possible interpretations. Either we remain in a corrective structure within Intermediate Wave 4, or we are already forming a 1–2 setup at the Minute degree, which would imply the start of an impulsive rally. My primary scenario, however, favors the correction. The reason is simple: despite the current bullish news flow, the internal structure does not provide enough confirmation for me to adopt the 1–2 setup as the main count. The order book shows notable order clusters around $4.2k and additional orders at $4k, while the liquidation heatmap highlights significant liquidity at the $4k level. Of course, shorter-term liquidity and orders exist above current price, but the fact that the recent pump occurred as a typical “Sunday pump” makes me cautious about taking longs in this environment. Derivative data supports the cautious stance. Open interest has stabilized, while funding rates have slipped back into negative territory. This suggests bearish sentiment is still dominant. When combined with the liquidity sitting above current price, the bearish argument is further reinforced. Additionally, it is worth noting that Fetch.ai has recently broken its bullish structure, and from experience, other altcoins often follow such bearish turnarounds. For now, I am short positioned. Key levels to watch include the 0.618 retracement of the supposed Minute Wave 2, which could act as a potential reversal zone. However, once the low of Minute Wave 1 is broken, I expect the path toward $4,000 to open up.

Fetch.ai displayed a very clear structure in Minor Wave 1, followed by a deep retracement in Minor Wave 2, which is quite typical for altcoins. This correction unfolded as a Double Three, consisting of a ZigZag in Wave w and a Flat structure in Wave y. Overall, this places us in Intermediate Wave 3, likely at the end of Minor Wave 2 or already at the beginning of Minor Wave 3. It is important to highlight that the market is currently at a critical juncture. Any marginal move below the red-marked low could quickly shift the count into an alternative Intermediate Wave 2 or even a Primary Wave 2. For Minor Wave 3 to confirm, price must decisively break above the high of the previous Minor Wave 1 and sustain momentum above it. The order book introduces a potential risk: a significant cluster of orders and liquidity is positioned around the high of Wave X, which could act as a sell wall and potentially halt the upward move. If price is strongly rejected here, it could indicate the continuation of Minor Wave 2 as a Triple Three correction with another Wave X forming. Derivative data remains stable. Open interest has been declining, while funding rates are holding at normal positive levels. These metrics show no immediate signs of risk. My bias is cautiously bullish for now, though I will closely monitor how Fetch.ai reacts to the order book resistance and liquidity concentrations. Sustained strength above these levels would confirm the bullish case, while strong rejection could extend the corrective phase.

Decentraland remains in Intermediate Wave 3, currently unfolding within Minor Wave 2. This corrective phase has been very complex, taking the form of a Triple Three. The overall structure consists of two Flats combined with either a Triangle or a ZigZag. While it is still too early to confirm, I consider the ZigZag scenario more likely, given the impulsive character the price has shown recently. An alternative scenario would be that we are still within Intermediate Wave 2, in which case deeper downside remains possible. The order book is relatively thin, with only small clusters of orders visible. Meanwhile, the liquidity heatmap shows significant liquidity both above the high of the recently formed Wave b as well as above the Wave b of y. Derivative data remains stable, with funding rates and open interest both holding at normal levels. Taken together, the data suggests a stable base for an upcoming rally into the “third of the third of the third” — a highly dynamic phase of the Elliott cycle. It is crucial that price does not break below the low marked by the dashed line. On the upside, confirmation would come from a breakout above the high of Wave 1, as indicated by the green path.

Polkadot has developed a structure that rests on very shaky ground and could flip from bullish to bearish at any time. The main concern lies with the Minor Wave 2, which retraced exactly 100%. According to Elliott Wave rules, a Wave 2 may not retrace beyond the starting point of Wave 1, making this a near-perfect but fragile setup. Nevertheless, given the ongoing correlation with other altcoins, I have kept this scenario as my primary count. From an Elliott Wave perspective, DOT is now positioned at the start of Minor Wave 3, which also aligns with Intermediate Wave 3 and Primary Wave 3. Altogether, this creates a technically solid setup for swing long positioning—provided that the structure holds. The order book shows some clustering around the high of Minor Wave 1, but no significant concentrations beyond that. Similarly, the liquidation heatmap remains sparse, with only minor liquidity pockets at the high of Wave 1. Derivative data confirms this lack of conviction, as funding rates are neither strongly positive nor negative. This reflects a market in uncertainty—neither euphoric nor fearful. Broader macro correlations may also be a factor, especially with Nvidia’s (NVDA) earnings announcement tomorrow. Tech and crypto often move in tandem, meaning the results could play an important role in shaping DOT’s next move. For now, I will wait to see how events unfold, particularly as I am already positioned in Cardano. Positive earnings could act as a catalyst for a potential Wave 3 breakout, while negative results could instead trigger a deeper correction.

Given the current structure, Cardano is most likely completing a 1–2 sequence at the Minor degree within the early stages of Primary Wave 3. This would imply that we are entering one of the most dynamic waves in the Elliott framework. Alternatively, this structure could still be part of a corrective phase, forming a Wave C that drives price to a new local low. However, considering broader correlations across the crypto market, I favor the bullish count. The order book reveals significant buy-side interest around the $1.00 level, which further supports the bullish case. The liquidation heatmap shows no major liquidity clusters, only smaller pockets around the high of Minor Wave 1. Derivative data adds weight to this scenario, with funding rates turning back from negative levels and open interest stabilizing following the Sunday pump. Overall, the broader setup presents a favorable environment for upside continuation. At current levels, the chart offers an excellent opportunity for swing positions, as it is unlikely that price will revisit this area in the medium term. Personally, I intend to position accordingly. Do your own research. Not financial advice.

Ethereum is in the final stages of Intermediate Wave 5, which also completes Primary Wave 5 and, in turn, Cycle Wave 1. At the Minor degree, the market is currently unfolding Wave 4, while at the Minute degree we are within Wave C, which is set to complete the corrective Flat structure. If the diagonal structure of this five-wave C continues, the earliest likely completion would occur around 1 pm. From a timing perspective, the end of Wave 4 would align well with the opening of the New York trading session. The alternative scenario assumes that this correction is not yet complete and could evolve into a more complex structure. Looking at liquidity, the order book appears relatively thin below the current level, with a significant cluster of orders around the $5,000 mark. This level also coincides with the first Fibonacci projection for Wave 5, making it a likely sell wall that could eventually trigger a trend reversal. The liquidation heatmap also shows limited liquidity, with small to medium clusters positioned near the 1.618 extension of Wave C. Derivative data paints a neutral picture. Funding rates are balanced, and open interest is stagnant, both of which provide suitable conditions for one final push higher. In conclusion, my bias remains long. I plan to enter long positions around the 1.618 extension level of Wave C. To refine execution, I will set an alert at this level to observe price behavior closely and make decisions based on how the market reacts there. Once this final Wave 5 completes, Ethereum will transition into Cycle Wave 2. In crypto markets, Wave 2 corrections are often very deep, and Elliott Wave theory also expects significant retracements at this stage. Price levels in the $2,000–$3,000 range may therefore reappear. During such a selloff, capital will likely rotate into altcoins, creating fresh opportunities across the broader market.

Bitcoin is currently in Cycle Wave A, with Primary Wave B just beginning. For this Wave B, my primary expectation is a retracement toward the 0.618 Fibonacci level, the golden ratio. This level is particularly attractive because multiple factors converge here, which I will detail further in this analysis. Should price continue higher toward the next highlighted Fibonacci levels, the corresponding alternative scenarios would come into play. Compared with my previous analyses, I have adjusted the wave degrees, as this alignment fits the broader market context more accurately. From a liquidity perspective, the liquidation heatmap shows a strong cluster of liquidity around the 0.618 retracement, making it a natural candidate for a trend reversal. Furthermore, this level aligns with the point of control (POC) of the prior wave, reinforcing its significance. When viewed through the lens of support and resistance, this area has historically triggered selling reactions, which further supports my primary scenario. The order book, however, remains relatively thin around the current price levels. Derivative metrics add another layer of insight. Funding rates are currently elevated, suggesting an abundance of leveraged positions. Meanwhile, open interest has stagnated, which at this stage cannot be interpreted as strongly bullish or bearish. In summary, my bias remains long, with a target at $117.5k. However, I do not recommend entering long positions at current levels, as an Elliott Wave-based approach advises setting a stop-loss 1% below the end of the preceding wave. Under this guideline, the current setup does not provide a favorable risk-reward ratio.

Bitcoin is currently unfolding in Primary Wave C, which is expected to complete Cycle Wave C and thereby finalize Supercycle Wave A. However, the chart leaves relatively few clear traces for this analysis. The order book appears thin, with only small clusters of orders around the $110k and $125k levels. The liquidation heatmap, on the other hand, shows significant liquidity above the high of Primary Wave B. This is likely due to many traders interpreting the structure as a potential head-and-shoulders pattern and consequently opening leveraged short positions. This leveraged positioning is also visible in derivatives data. Funding rates have just turned back from negative territory into positive, while open interest has been in decline. The question now is whether price will revisit the $120k region or if this move is simply a minor corrective bounce within the broader downtrend. ETF flows currently point to bearish sentiment, with outflows of $14.1 million recorded on August 15. Overall, it remains to be seen whether the excess liquidity will be cleared, which would support the primary scenario. At the same time, indicators such as the RSI are already at deeply oversold levels, making a corrective bounce more a question of when and how far, rather than if. My favored outcome would be for Bitcoin to close the recently formed fair value gap (FVG) without breaking significantly higher. Should price revisit this zone, I will look for cautious short entries with limited risk, targeting the daily FVG marked below.

Ethereum is currently in a corrective phase, forming Intermediate Wave 4. On the higher degree, this move takes place within Primary Wave 5 and Cycle Wave 3. At the Minor degree, it becomes clear that this Wave 4 correction is taking shape as a more complex structure, which is consistent with the broader correlation across altcoins. First, a ZigZag pattern unfolded as Wave W, followed by a Flat structure as Wave Y. For Wave Z, either another Flat or a Triangle is expected. The alternative scenario suggests that Wave Y’s Flat has not yet fully completed and may extend lower. While the subsequent Wave X would likely reach a similar target due to fundamental market mechanics, the following Wave Z could theoretically extend deeper, approaching the golden ratio retracement of Wave 4. From a liquidity perspective, the order book shows relatively few orders below the current price. Instead, a growing concentration of orders can be observed above the top of Intermediate Wave 3, which are likely to be taken out during the upcoming Intermediate Wave 5. The liquidity heatmap confirms significant liquidity above current levels, concentrated in the fair value gap (FVG) zone, which is expected to be targeted during Wave X. Both the clustered orders and liquidity are highlighted in the chart with the red box. Additionally, the volume profile of the prior Intermediate Wave 3 reinforces the likelihood that Wave Y has ended, as price is currently reacting around the point of control (POC), a logical area for a bounce. Derivative data also supports the potential end of Wave Y. Funding rates have turned back to positive after a period in negative territory, suggesting traders are reducing short exposure and gradually positioning for higher prices. Open interest has also seen a modest uptick, which will likely expand further as Wave X progresses. In summary, my bias remains bearish, and I will be positioning short at the top of Wave X. Furthermore, I expect Wave Z to take the form of a Flat rather than a Triangle.

Fetch.AI presents a very clear structure. At this stage, we are most likely in Intermediate Wave 3, Minor Wave 2, and Minute Wave C. This structure aligns well with that of other altcoins, which further supports the scenario. Broadly speaking, I expect a deep Minor Wave 2 correction, after which Minor Wave 3 should unfold. This setup would put us in a Wave 3 across multiple degrees simultaneously, the most impulsive wave that typically delivers the strongest percentage gains. The liquidity heatmap shows liquidity concentrated around the 0.5 retracement level of Minute Wave B, which also aligns with my primary scenario. The order book, however, remains relatively thin, with only a few orders placed around the high of Minor Wave 1. These could expand during the final stages of Minute Wave C, potentially providing the foundation for a trend reversal. Derivative data currently confirms a neutral sentiment. Funding rates are in the normal positive range, reflecting neither overbought nor oversold conditions. Open interest has seen a slight uptick but remains below the highs established during Minor Wave 1, and is expected to decline again. Meanwhile, the Cumulative Volume Delta (CVD) is negative, showing only a modest recovery during Wave B. Ideally, I would like to see it turn lower again once Minute Wave C resumes. Overall, my bias is bearish, and I will be positioning short around the 0.5 retracement level.