ETH/USD: Bullish projections

Updated

****Bear projections in progress****

Ichimoku number theory told us to look out for impulsive activity at this time. You can see the candle counts support this.
We appear to have a trend change that has begun at that ichi number.

This upsweep has just barely breached our projected possible rejection point and is sitting right above it, and flirting with the area...
We are at a moment where this trend change will either be sustained further or rejected. Bearish projections will be coming soon if we do get rejected.

Bullish price theory says the
following price targets are in
reach assuming we breach B:

V=347+(347-292)=402
N=292+(347-280)=359
E=347+(347-280)=414

Possible rejection:

NT=292+(292-280)=304

Conclusion: I posted this earlier with messed up candle counts so I deleted it. By the time I was done editing it dumped lol.
Bear projections on the way.

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ETH is trying to bounce off the kumo

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bear projections completed as a related idea.
Refer to them if you don't believe the bounce.

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ETH has bounced off the kumo and is making an upswing. Whether or not it will sustain at this point can't be certain. However the T-K lines crossed bear.
An ominous hint towards downward movements to come.

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ETH has preserved micro bullwave structure so far. We might just confirm our projected price targets.

But until then be wary.

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Shorter timescales have returned to bull. ETH has broken up and out of the 1hr kumo. Several other buy signals are being produced by the visual indicators.
This strengthens the possibility that we will continue the uptrend.

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Eth is showing poor wave structure and little momentum.

Trade active

We almost fell through the 2hr kumo and are now resting on some minor supports within it. Breaking down out of the 2 hour kumo would mean bad news.

The 2 spans of the kumo itself stretch far apart right around 2hr candle number 9 of our descent, which is in ~5 hours(2-3 more bars after this one completes). Number theory tells us we should be on the lookout for some volatility around this time.

Ichi indicators are giving some mixed signals, but the 4hr t-k lines just crossed bull and the price is resting at the base line on that time frame.

A sign of upwards movement at the same time the price is at a typical rebound point... I always plan for movement in either direction, but the forecast being hinted at with these signs makes sense to me.

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Didn't mean to select trade active on that last comment.

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If ETH decides to head down through the kumo but with insufficient momentum, a bounce could be expected from ~300

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ETH has exited the Kumo with a candle body clearly free of its clutches. This is a promising sign.

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Our understanding of impulsive and corrective price actions suggests that the bulls are in control and are unwilling to relinquish such control.

Since timing our bottom almost perfectly using time theory, back when this was published, we have had 2 instances of impulsive price action where the bulls are clearly in control. Large solid bull candles, with the only bear candles present at all on these 2 upward impulses being the two red dojis in the first impulse. These bear candles are not even present on the 4 hr.

After each of these instances of impulsive price action, we have experienced 2 instances of corrective price action. We are in one right now.
We can identify corrective price action by largely horizontal price movement(a slight trend in either direction works), a steady mix of bear and bull candles with larger wicks on top and bottom, typically closing near the middle of the price range, and lastly but very importantly an unwillingness for larger players to take profit, as seen by the top candle closing rather strongly. A large wick is present but the candle body still closed pretty strong.

Most usually, upward movements with this sort of structure will simply continue the same pattern until they are met with an impulsive move that is against the trend.
Number theory is telling us to be on the lookout impulsive price action in ~5 or 6 hours. I'll be watching around this time.

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To be clear about what was said above, we are at a point of reckoning. Whatever ETH ends up doing for its next impulsive movement will likely determine the trend.

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The bulls maintain and utilize their control.

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Now it is the bears turn.

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The bulls are attempting to regain control of the situation.

ETH is showing range-bound behavior. Typically when no bear or bull fractals are being violated resulting in sideways price movement, I draw a couple horizontal lines, one at the lower bound at 324 and one at the higher bound at 330. When one of these lines is violated we will know what sort of price action to expect.

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ETHUSD: bullish projections, possible double top

Check this for a more recent analysis. These price targets may still be valid but we must wait and see.

Order cancelled

Failed to breach B.

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A related bull projection's price target actually ended up confirming these price targets. The bulls are in control and we have hit the very low high probability price target.
I would consider these next targets also active at this point.

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I would also consider the area between the 2 high probability price targets to be a sort of take profit range. I would layer my sells throughout this area

Trade closed: target reached

Been away and busy.
target reached in my book, 395 is close enough to me.

Thegreatomski

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