🔥Ethereum is on Ascending Triangle(Bear Market) 🔥(Road map)🧐Today, I decided to publish a Road map for Ethereum .
First, I have to say again sorry (This post is like with post that I published ''🔥 Bitcoin is on Contracting Triangle 🔥 (Road map)🧐'' ) for the busy chart ( ETHUSDT ), but my chart needed these lines. Please spend a few minutes on it.🙏
Location: ETH is on Main wave 4 ( Zig zag 5-3-5 ) for about 25 days (From 4372$ until LIVE price) and I think that Main wave 4 will take more time from us (maybe more than one month , just a prediction ).
My idea : ETH was able to pass the Microwave A (It had 5 microwave) of the Main wave 4 at 1866$ . Now, ETH is running on Ascending Triangle ( Bear Market shape ). I was able to find the 3 main points of the triangle A-B-C ( Ascending Triangle ).
For finding Point D , we have to concentrate on Descending Triangle for Bull Market OR Barrier Triangle . (In the following, I will explain the reason for the word ''OR'').
I think that Point D can be around 2552 $ == Near the Lower line of our Triangles.
I have three Scenario :
Scenario 1 : when the price arrives to Point D , it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave B of the Main wave 4 was at Point C + microwave C of the Main wave 4 has started === Triangle that I spoke about it for finding Point D will be Barrier Triangle .
Scenario 2 : when the price arrives to Point D , then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market ) on this way). Point E can be a Critical Point for us (It is the end of microwave B of Main wave 4 ), better, I had to say that market will decide to go UP or DOWN ( UP will make my Scenario 3 // DOWN will make my Scenario 2 ). If the price goes DOWN at Point E , we can say that microwave C of Main wave 4 has started == Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Scenario 3 : when the price arrives to Point D , then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market ) on this way). Point E can be a Critical Point for us(It is the end of microwave B of Main wave 4 ), better, I had to say that market will decide to go UP or DOWN ( UP will make my Scenario 3 // DOWN will make my Scenario 2 ). If the price goes UP at Point E , we can say that BTC will go UP by 5 new impulsive waves == Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Also, I have to say that Microwave C can not go down less than 1406 $ == Elliott's rules will be violated ( Wave 4 and Wave 1 can no t have overlap ).
Resistance zones on Ethereum's way :
Resistance zone 1 : 2900$ until 2935$ ( The upper line of Ascending Triangle + Monthly Pivot Point ) == Heavy Resistance
Resistance zone 2 : 2814$ until 2837$ ( 38.2% Fibonacci microwave A of Main wave 4 + Weekly R1+ 88.6% Fibonacci (Point A) until (PointB) ) == Light Resistance
Support zones on Ethereum's way :
Support zone 1 : 2264$ until 2180$ ( 88.6% Fibonacci (Point B) until (PointC)+ 61.8% Fibonacci (Point A) until (PointB) + support (major pivot) ) == Medium Support
Support zone 2 : 1900$ until 1865$ ( support (major pivots) ) == Heavy Support
My Suggestion : please DO NOT buy Coins for Midterm and Long-term investment until the market finds a way .
Do not forget to put Stop loss for your positions (For every position you want to open)
Please follow your strategy , this is just my idea, and I will be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
