Ethereum is starting a new bull market! (after 2 years)
Updated
- After almost 2 years, ETH is starting a new bull market. It's still a great time to buy before ETH reaches 10,000–20,000 USDT per coin!
- So why is ETH bullish? To answer this question, we need to use the Elliott Wave theory and chart patterns on the weekly chart. As we can see, we have a strong Elliott Wave nest (1-2-1-2) with a combination of the previous ABC Zig Zag (3-3-3). This combo is indeed powerful! What's more, we can see an ascending triangle at the bottom of the trend, which is an even stronger bullish sign!
- You want to buy Ethereum and Bitcoin as soon as possible to earn a lot of money, as the price is still very cheap.
Profits are already insane, so be greedy and enjoy the ride! - What is the profit target? You do not want to sell ETH for less than 10,000 USD per coin, that's for sure. As per my analysis, ETH could reach 20,000 USD in 2025, which you will see in one of my next analyses, so make sure you are following me! But of course, in the short term, we have some strong resistances, such as the 0.618 FIB at 2534 USD. Definitely a good profit target for swing traders.
- I really look forward to 2024 and 2025, which will be bullish months! At this moment, probably 95% of traders are gone; they left the crypto space because, of course, they lost money during the previous bear market and were forced to sell their holdings. Some people may say that people should hold strongly and never sell, but if someone has to pay the bills, they are forced to sell it. So it's easy to say, right?
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and privately.
- That's my outlook; be bullish and have a nice day!
- Thank you, and for more ideas, hit "Like" and "Follow"!
Note
Daily chart: ETH makes a higher high, which is a bullish sign + trendline bull break!Note
The major indicator, the 200-week EMA, is bullish. The price is above this key moving average, which indicates we are in a bull market.Note
2500 USDT per 1 ether before Christmas? This is more than probable!
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