Ethereum to Lead The Alt Season!Hi guys,
Related to my recent analysis on ETH/BTC, we could very likely see ETH/USD(T) making some big moves, which is already starting to do. This would be very bullish for alt coins as Ethereum leads the alt market.
Check out my analysis in the video to see how I break things down using ICT's Concepts in a very simple and easy way to determine bias and narrative. This works in Forex, Commodities, and of course, Crypto.
Happy trading!
- R2F
ETH-D
Alikze »» ONE | Wave 3 or C bullish scenarioAccording to the previous analysis, the currency of Harmony One reached its target. Currently, it is in the microwaves of rising wave 3, which can increase this wave to 0.063. to continue But in the higher time, it is expected that the started wave will return at least 100% of its previous wave to the area of $3.27. But in short-term goals, the specified supply areas can be considered as profit limits.
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$ETH Up 20% as Odds of Exchange Traded Fund (ETF) Approval High Ether (ETH) has surged 20% to over $3,829 as favorable regulatory developments increase the likelihood of ETF approval. CoinDesk 20, tracking the largest digital assets, rose nearly 8% amid positive regulatory progress on Ether ETFs. The Securities and Exchange Commission (SEC) has made abrupt progress in the approval of a Ether ETF by asking exchanges to update 19b-4 filings for ether ETFs. This suggests potential progress toward spot Ether ETF approvals.
As a result of this significant development, the ether implied volatility curve flattened as 25-delta risk reversals hit YTD highs above 18%, and traders heavily bought $4000 calls for 24 May 2024 and 31 May, according to Presto Research analysts. A Polymarket contract asking if an ether ETF would be approved by May 31 jumped from 10 cents to 55 cents, representing a 55% chance that approval will take place by May 31. Another Polymarket contract asking if the ETF will be approved by June 30 is currently trading at 68%.
A decision on VanEck's proposed ether ETF is due on May 23, followed by Ark's on May 24. Fidelity has filed an amended S-1 application with the United States Securities and Exchange Commission (SEC) for its spot Ether exchange-traded fund (ETF). The asset management giant has reportedly filed an updated S-1 application, stating that the ETF’s underlying Ether ( CRYPTOCAP:ETH $3,755) tokens will not be staked. S-1 filings are the SEC’s required registration form for launching publicly traded securities products in the United States.
The next SEC deadline is May 23 for VanEck’s Ether ETF proposal. While senior Bloomberg ETF analyst Eric Balchunas has increased the odds of approval to 75% from 25%, this only applies to the 19b-4 form. Ether ETF issuers will also need to get their S-1 filings approved, according to Bloomberg ETF analyst James Seyffart.
Staked Ether could be classified as a security despite CRYPTOCAP:ETH ETF approval. The SEC has previously sought to classify Ether as a security, and Ethereum’s upgrade to proof-of-stake (PoS) may have given the regulator another reason. However, the securities watchdog may still classify staked Ether as a security, according to Alex Thorn, the head of research at Galaxy Research.
Technical Outlook
Ethereum ( CRYPTOCAP:ETH ) is up 4% as of the time of writing at $3,809 per coin. With a Bullish Relative Strength Index (RSI) of 72.93 Ethereum ( CRYPTOCAP:ETH ) is set for a mega rally, the daily price chart depicts a "Bullish Flag Pattern" accentuating the thesis.
Furthermore, the Long Bullish "Harami" candlestick on the daily price chart likewise validates the bullish thesis.
Pattern failure on ETHBTC!!! ***WARNING***Are we going to get a halvening before the Halvening.
Ethereum priced in Bitcoin is giving us the headsup that things are not right in #crypto world
After being so strong for so long
we have broken down through our stop loss for a Bullish #HVF
and now appear to be spilling towards legacy ratio's
if #Ethereum does go on a tumble
expect your #altcoins to lose twice as much value
ETH - It is Happening! 🦋Hello TradingView Family / Fellow Traders,
As per my last analysis, shown in the attached chart, ETH rejected the $3000 round number and surged by over 20%.
What's next?
📈As long as the $3500 round number holds, we expect a continuation towards the previous all-time high of around $4800.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
And always remember:
All Strategies Are Good; If Managed Properly!
~Rich
ETH - Deja Vu🦋Hello TradingView Family / Fellow Traders,
For those who know me, I always enjoy studying previous price action.
📌Today, I want to share an interesting pattern I found on ETH.
Back in Summer 2021, ETH experienced a parabolic bullish impulse (depicted in blue), followed by a correction (shown in purple) to reject the $3000 support before commencing another bullish impulse movement.
If we apply the same logic to the current price action, ETH is currently in the correction phase, rejecting the $3000 support.
Thus, I will be looking for buy setups on lower timeframes, speculating on the next bullish impulse movement.
Of course, this pattern will be invalidated if the $3000 mark is broken downward.
🗒 What do you think? Will history repeat itself?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
And always remember:
All Strategies Are Good; If Managed Properly!
~Rich
ALTSEASON is just about to launch!!!According to the historical relationship between ETH & NVDA
The caveat obviously this relationship was far stronger when ETH was validated using GPU's
... but we still have to take note of this relationship in my opinion!
We know a vast majority of the altcoins are still in fact ERC20's ... including all the various L2's like
Arbitrum, Base, Pulsechain and the other various EVM's
A strong eth has a multiplier effect on those S coin prices. As we have already seen this cycle on Solana.
The ETH etf is on the docket to be approved .. it is actually a political necessity now.
like I've been saying we are due are GENERAL altcoin season any day now... not just new coins, or new narratives..
I think all boats will rise in this next ramp up.
? do we get a double bubble like in 2017? or a short 6 months -9 months and end the 4 year cycle early?
20/05/24 Weekly outlookLast weeks high: $67701.33
Last weeks low: $64227.62
Midpoint: $60753.92
We have lift off... maybe? Bitcoin has spent the last 2 months chopping between the low $70K's and high $50K's after a strong rally. However, it looks like strength has returned at least for now in BTC after the CPI print of Wednesday last week. This volatility influx moved BTC back above the 4H 200EMA which has been the all important level in determining the Mid - Low time frame trend. Now that price is back above I think the general sentiment would be to be more risk on, especially in terms of leverage than we've seen in the last few weeks. Not necessarily saying this is an ideal entry, just I think more confidence is returning to Bitcoin.
The altcoin market on the other hand with exception to a few top performers is lagging behind BTC, and that can be seen by the Bitcoin dominance at 56% currently and targeting local highs. For altcoins to begin reclaiming some of their loses we'd need BTC to get back above the '21 high of $69K.
Also, we have the ETH ETF approval deadline for VanEck and ArkInvest/ 21Shares on the 23rd &24th May respectively. Coinbase believes the odds of approval are closer to 30-40% so it would be a shock if these ETF's were approved by the SEC, however, if they were to be approved this could help kickstart the altcoin market again.
For this week it's about seeing if BTC can capitalise on last weeks progress and target the '21 ATH. The purple trendline needs to be respected on the way up otherwise I think we'll retest the MIDPOINT or even the 0.25 area.
This is the real question to ask now.There are two scenarios.
1- Bull pennant
2- Bull flag
Write in the comments which one do you think?
- If it is a bull flag, there is a possibility to drop to $2800.
In a different analysis I shared yesterday, I gave the target of $2800. Please check it.
- If it is a bull pennant. Yesterday we had a bear trap and now retesting the breakout.
In both scenarios, I think we have beautiful days in front of us after Bitcoin halving.
* What i share here is not an investment advice. Please do your own research before investing in any digital asset.
* Never take my personal opinions as investment advice, you may lose all your money.
Ethereum About to Make a MONSTER MOVE??Hey everybody,
Hope all is well.
Today I take a look at the ETH/BTC chart as there is something significant on it. Price has just reached a YEARLY FVG. Yes, you heard that right. For ICT traders, you know what i'm talking about. This is significant in that large moves can occur. So let's dive in as I do my analysis, clean and simple stuff.
Basically, ETH/USD may be a better choice than BTC/USD in terms of returns. As usual, do not over-leverage or get greedy. This is the yearly chart that I analyzed so patience is paramount.
- R2F
3 Different Bull Scenarios for BTC Apr-May 2024 🍃🌻🥵I should preface and say that these 3 different predictions are based off a similar price action that occurred between June and July 2017, where the sentiment for BTC was very similar to the current sentiment we face here in April and May 2024. I believe that a lot of the run up of this bull market for the next year or so will be similar to 2017 where positive news for BTC keeps coming. I know some argue the ETFs don't play a big role in price action, but I strongly disagree long term. If BTC has taught me anything throughout the years it's that information and knowledge of the asset has only strengthened its fundamentals and allowed it to prosper to what it is today. When individuals truly understand the benefit of having BTC in their portfolio (or even retirement), it's a notion/idea that can't be easily shaken off. Given that interest rates are likely to be cut later this year and inflation showing no signs of slowing down, I think it's impossible for me to be bearish on BTC. The largest asset managers in the world will not stop hyping up BTC and their ETFs. This all being said, I was very wrong about the short term price action and am re-evaluating possible scenarios that may play out in the next 2 months.
June-July 2017 was a moment in time where BTC just pressed up against $3,000, got rejected, and it took an entire month for it to eventually blow straight through. While the overall sentiment seems very positive for BTC right now, the one thing we cannot mentally get past is that $70k barrier. And while we have passed it, it was not held convincingly. Maybe we got too ahead of ourselves thinking this could keep running up with no pullback- I know I definitely did.
I'm more bullish than I ever have been, but I think recognizing that the market does not move as fast as we always want it to is important. For ETFs, these products take time to prosper in markets. Luckily for us, the crypto markets move quick (relative to other markets).
So here are 3 bullish scenarios. If anyone watched, that dump last night was aggressive. This is trader's territory now. If there is no bounce within the coming days (I don't expect there to be a big one), then we will continue bleeding out to $61-59K. I think it's going to take some real FOMO to be witnessed if we want this bounce to be grand. These bull market cycles have taught me that just one strong bounce alongside ongoing positive news can completely switch the narrative and price action. Because the truth is, there has been almost no bad news for BTC since January. If there has been, please enlighten me. Because most of the negative Crypto news I read is related to other coins (worth noting I hold ETH as well).
So breathe in, hold it.... and breathe out. We will be okay. This bull market is just getting started. The positive sentiment, good news, and true value of BTC are all very real. Honestly I hope I'm wrong and we shoot up ASAP. Unfortunately, price action I don't think is always necessarily timed out accordingly with factors such as sentiment and news. Let the short term traders do their thing, and HODLers will still end up rewarded in the longer term.
But as always, BTC has humbled and continues to humble me. Good luck traders and HODLers!
This. Is Actually Bullish. But First. One More Liquidation? Traders,
I'm seeing this on the Bitcoin chart as well (future post). But here on Ethereum we are in a bullish descending wedge. It should break to the upside soon. However, careful going all in just yet. My spiny senses are telling me we could have one more liquidation of longs incoming before all lights are green. Our .618 fib level seems to be holding well so, this might look like a quick wick down during the course of the day touching that bottom part of the descending triangle or even possibly the 200 day sma. Get ready to pull the trigger on those buy orders if that happens or even if it doesn't.
Stew
ETH - Bullish Continuation⁉️Hello TradingView Family / Fellow Traders,
📈As per my last analysis, ETH broke above the previous major high at $3000 and is currently trading higher.
What's next?
ETH is currently bullish short-term trading within the rising wedge pattern marked in orange.
🏹As long as the lower orange trendline and the $3000 support hold, a continuation towards the upper bound of the orange and blue channels would be expected around $3333.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Massive Drawdown or Rally vs Bitcoin AheadEthereum is about to lose most of its value vs. Bitcoin, or gain near equal footing with it instead.
What are the scenarios, and why?
Bear Scenario:
Lost a 7.2 year uptrend - failed to reclaim on re-test, failed to touch bottom of trend on re-test.
50/200 week MAs Death Cross
Remain below on any further possible re-tests, expect ETH to lose >90% its value vs BTC
Bull Scenario:
Fake Breakdown - 7.2 year uptrend is reclaimed upon testing the 200 week MA following the death cross.
This leads to a breakout at the other end of the wedge.
A fake breakdown leading to a breakout at the top of the wedge would target ETH becoming near equal in value to 1 BTC
BRIEFING Week #20 : Pay the Price, Receive the Value !Here's your weekly update ! Brought to you each weekend with years of track-record history..
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ETHUSDT → 20th may updatehello guys...
The Decision point of the last leg or the origin of the move hunted so the price will experience a little correction.
but I don’t remember the final target of this frame is the area that I showed as a yellow area, I mean 3310$ level will be reached!
let’s see! BINANCE:ETHUSDT
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