Updates on my trading plan on ETH

Richard Wykoff developed an interesting concept where he asked a series of questions before developing setups. For example, if the price was falling and he was interested in developing bullish setups, he would ask himself a question "Has the price reached the main target of the bearish movement yet? If the answer was NO, he avoided trading until the price made contact with the main target of the bearish movement. However, if the answer was YES, then he was allowed to develop a setup.

In this case, the main target of the bearish movement is the support zone at 1800. If the price reaches that level I would assume that we have reached the level from where I'm allowed to develop new setups. If that's the case, I will wait for the breakout of the new descending trendline, and I will wait for a correction to trade on a new local high.

I'm also interested in the logarithmic perspective on Ethereum. I see clear similarities between the current situation and the correction of 2016. As you can see here, the beginning of the new bullish movement happened after the contact with the lower zone of the range.

What happens if the price keeps going up? Then, I would not be able to trade; however, I think that the price above 3250 would be a confirmation for a bullish movement towards 4300

At the moment, my stand on the cryptocurrency world is "keep waiting." Thanks for reading; feel free to share your view in the comments.