The break of the 47k level has confirmed the bullish view and as such we will look for any retracement to get long for what should be 5 waves up through to year end. A break of 43854 will signal that a larger wave (ii) correction is underway with targets at 42020 and just below the 40k level. Place stops below 37300.
No real change from last weeks view as we look for wave (iv) to complete and the final push of this leg higher gets underway. I would look to buy on dips into the 2800/2900 level and possibly the area of the previous wave 4 at 2500 with initial target at 3495.
I am worried about the divergence in the MACD so we could see a sharp reversal once a new high has been made for the month. Once this top is in place we will see a more significant reversal enabling us to purchase more ETH at lower levels than now.