ETHUSDT 3H: sweep of the 4th wave lows, watching for a reclaimETHUSDT SPOTBYBIT:ETHUSDTTheChartWhisperrETH has swept the 4th wave lows on a spike in volume. I'm watching the 3H closes to see whether price can reclaim them. The bigger picture My read: ETH is in wave 4 of wave 1 up from the lows. Wave 5 comes next. This count is wrong if wave 4 trades back into the price range of wave 1. What just happened Price fell through the 4th wave lows at 2,356.41 and through the 2,318.00 line, which I drew from the 15 Oct lows. Volume spiked well above its average line on the way down. Price then moved back above 2,318.00. That is a sweep: price briefly takes out earlier lows to trigger stop orders, then turns back. A sweep alone is not a signal. It only matters if price gets back above the level it broke. The 4th wave lows at 2,356.41 are that level. The plan: IF THIS, THEN THAT IF the 3H closes back above the 4th wave lows at 2,356.41 THEN the sweep is confirmed and I expect wave 5 to build from here. IF the 3H closes back below 2,318.00, THEN the sweep has failed. IF price trades back into the price range of wave 1, THEN my count is wrong. Where it could go I'm watching for the end of wave 5 of wave 1, the end of the move, not a quick bounce. I expect that to play out over days to weeks. What I'm doing I'm in a long ETH trade. This is my analysis of the chart, not financial advice. Size your risk so being wrong is small.