ethereum goes to $20,000gm,
eth is setting up for a monumental move to the upside as the etfs were granted access into crypto land.
they've been accumulating behind the scenes while a large majority of the market has been panic selling due to a rise in fear, uncertainty, and doubt.
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over the last month i have decided to pivot my primary macro idea from bear to bull, due to two variables.
1. fear
2. market structure .
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a macro bullish nest is a series of 1-2 structures in elliott wave theory which leads to a parabolic expansion to the upside. so while the common man sells his bag out of sheer fear, the institutional trader simply scoops his coin up for a bargain and awaits the mark-up phase.
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eth target sits above 20k.
ETH1!
ETH. Weekly trading levels 20 - 26.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade.
If you expect any medium-term price movements, then most likely they will start from one of the zones.
Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post.
! Please note that brokers have a difference in quotes, take this into account when trading.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
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I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade.
Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat.
Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
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Ethereum: Past Successes and Future ChallengesSince its inception in July 2015, Ethereum has undergone a remarkable ascent in value, surging from a mere $0.31 to its current price of $3,000. This represents an extraordinary return on investment of nearly 10,000 times, potentially transforming modest investments into substantial fortunes.
However, the pivotal question remains: does Ethereum still harbor the potential to elevate investors to millionaire status? While Ethereum's past performance speaks volumes, the prospect becomes more ambiguous when considering its future trajectory.
Upon its introduction in 2015, Ethereum held an unrivaled position as the premier smart contract blockchain platform, benefitting from a significant first-mover advantage. It wasn't until 2020, with the emergence of blockchain competitor Solana, that Ethereum faced its first credible challenger.
Consider this scenario: visualize a prominent Silicon Valley tech giant enjoying an unparalleled five-year lead over its rivals. After such a substantial period, it would likely have solidified its dominance in market share, intellectual property, and customer loyalty, appearing virtually invincible.
However, applying this analogy to Ethereum's situation reveals the daunting challenge of replicating its past success. The landscape has evolved considerably since Ethereum's inception, with numerous competitors vying for prominence. Unlike in 2015, Ethereum now contends with formidable competition, with three of the top 15 cryptocurrencies directly challenging its supremacy.
Moreover, enthusiasm for Ethereum's ongoing blockchain upgrades has somewhat diminished. While the 2022 blockchain upgrade, known as The Merge, was undoubtedly impressive—comparable to changing the engine of a plane mid-flight—it also marked a turning point. Although The Merge notably enhanced Ethereum's performance, making it faster, more cost-effective, and efficient in transaction processing, the relentless pursuit of upgrades raises concerns about Ethereum's stability and long-term viability.
Nevertheless, Ethereum's initial promise of delivering 1 million transactions per second remains unfulfilled, with the network relying on a complex array of Layer 2 blockchains to address scalability and functionality issues. The core Ethereum blockchain, known as Layer 1, struggles with speed and efficiency, necessitating several more upgrade cycles to introduce new adjustments and enhancements.
While incremental innovation is commendable, there exists a notable distinction between incremental and truly disruptive innovation. This is where apprehension regarding Ethereum lies. The Merge may have marked the end of disruptive innovation, potentially paving the way for agile competitors to challenge Ethereum's dominance.
Adding to the uncertainty is ongoing regulatory scrutiny from the Securities and Exchange Commission (SEC). Following The Merge, the SEC has yet to determine whether Ethereum should be classified as a commodity or a security. The transition to a proof-of-stake blockchain could have regulatory implications, particularly concerning the staking process, which some may interpret as an investment with profit expectations derived from others' efforts.
This legal ambiguity holds significant implications for investors, as Bitcoin maximalists revel in Ethereum's regulatory uncertainty. There is a tangible risk that the SEC might classify Ethereum as a security, deterring many investors.
Consider this scenario: achieving millionaire status from a $1,000 investment in cryptocurrency today would necessitate a 1,000-fold return on investment. Consequently, the pivotal question regarding Ethereum's potential as a millionaire-maker cryptocurrency revolves around whether it can appreciate by 1,000 times its current value of $3,000.
Such a monumental rise would imply a staggering $3 million price per Ethereum coin in the foreseeable future. With Ethereum's circulating supply standing at 120 million coins, this would translate to a total market capitalization of $360 trillion—exceeding the current total market capitalization of the S&P 500, which is approximately $50 trillion.
In essence, solely relying on past performance for investment decisions is akin to driving a car while fixating on the rearview mirror. It's imperative to shift focus towards Ethereum's potential to generate value in the future, rather than dwelling on its historical track record.
Now, regarding the volume analysis and the chart provided:
The price of the Future is currently under bearish pressure, characterized by low tick volumes. However, the price is above the 70% retracement from the previous swing, indicating a discount area for potential buying opportunities. Our strategy involves setting buy limits within an area of inefficiency, with stop losses positioned below. We anticipate the price to retrace to the Fair Value Point of Control (POC) and continue its upward trajectory.
ETH. Levels for intraday trading for the weekend 27-28.04.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation.
If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP.
Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
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Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat.
Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1.
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AIQ ETF: Artificial Intelligence - Is The New One Bitcoin!?Everyone was talking about ChatGPT in the last quarter.
Investors were trading on a rush. Thanks to launch of the bot, well-known stocks, such as NVIDIA shares, have shown the highest profitability among all stocks - components of the S&P500 and Nasdaq-100 indices since the beginning of the year.
Previously low-profile AI stocks like MobilEyE Global , Ambarella , C3.ai have become more popular.
OpenAI introduced ChatGPT on November 30th, and since then it has demonstrated the ability to perform a number of tasks such as writing stock articles, firing emails, and even messaging on dating apps.
ChatGPT is a conversational AI chatbot developed by OpenAI that supports natural language queries.
The buzz exploded and blew the roof off when it was reported OpenAI is to receive a $10 billion investment from Microsoft .
Undoubtedly, the launch of ChatGPT has become one of the most disruptive topics in the financial markets in Q1 2023.
And now, at the beginning of a new quarter, here is a publication that was fully created by ChatGPT Artificial Intelligence, under request to tell a 1200-word Fantastic story Artificial intelligence Becomes The Next Bitcoin.
Good or bad, y'all be the judge. But here's what ChatGPT said...
n the year 2040, the world had seen incredible advancements in technology. The most talked-about topic was artificial intelligence (AI). AI had become a ubiquitous part of daily life; from self-driving cars to chatbots, AI was everywhere.
But there was something different about this AI. It was not just a tool to make our lives easier; it was a valuable asset that people could invest in. The AI market had become the next big thing, and some even compared it to the early days of Bitcoin.
A young man named Jack had always been fascinated by AI. He had studied computer science in college and had been working at a tech company for a few years. Jack was always looking for the next big thing, and when he heard about the AI market, he knew he had to get involved.
At first, Jack was hesitant to invest his money in something that seemed so new and untested. But as he researched more and more, he became convinced that AI was the future. He decided to take the plunge and invested all of his savings into an AI startup called Mindworks.
The startup had a revolutionary new product that used AI to predict market trends. It was unlike anything else on the market, and investors were taking notice. The company's stock began to rise, and soon Jack's investment was worth ten times what he had put in.
Jack was thrilled with his investment, but he knew that the market was volatile. He had seen what had happened with Bitcoin; it had soared to incredible heights before crashing down. He didn't want to make the same mistake.
As he watched the market closely, he noticed that there were other startups popping up all over the place. Some were using AI to create better healthcare solutions, while others were developing AI-powered robots that could do jobs humans couldn't.
Jack realized that the AI market was growing fast, and he needed to stay on top of things if he wanted to continue to make money. He decided to start a blog where he could share his insights into the AI market and offer advice to other investors.
The blog quickly became popular, and Jack was soon seen as an expert in the field. He was invited to speak at conferences and was even featured on news programs. He was living the dream, making money from something he loved and helping others do the same.
But as the AI market continued to grow, so did the competition. The startups that had once been small and unknown were now getting funding from big-name investors. The market was becoming saturated, and it was becoming harder and harder to stand out.
Jack knew that he needed to do something to differentiate himself from the competition. He decided to create an AI-powered platform that could analyze the market data in real-time and make investment recommendations.
It took months of hard work, but Jack finally launched his platform. It was an instant success, and investors were lining up to use it. Jack's platform was unlike anything else on the market, and it quickly became the go-to tool for AI investors.
As the market continued to grow, so did Jack's wealth. He had become a millionaire, thanks to his investments in the AI market. But he never forgot his roots and continued to offer advice to other investors through his blog.
The AI market had become the next big thing, and Jack had been there from the beginning. He had seen the potential of AI and had taken a chance on something new and untested. And now, he was reaping the rewards.
As he looked back on his journey, he realized that he had become a part of something much bigger than himself. The AI market was changing the world, and he had played a small part in making that happen.
Jack knew that there would be ups and downs in the market, but he was confident that AI was here to stay. It was the future, and he was excited to see where it would take us.
The end.
The main chart illustrates that the Bearish Trend in AIQ ETF - Global X Artificial Intelligence & Technology ETF is also - the end 😊
ETH1! Will Go Down! Short!
Here is our detailed technical review for ETH1!.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1847.5.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1600.0 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
ETH Open Long (eng)Hello Friends.
Unfortunately, the final way down did not wait
A big player closed his short position and managed to get a long position during the flat.
Yesterday before the stock market closing I fixed the volume impulse, which finally indicated a trend reversal, at least the local one.
Closed my previous position from 11.08.2022 from the price 1505.
it appeared +15.5%
Opened Long from 1273
From 06.01.2023 time 20:12 (GMT)
The arrow points in the direction of the open trade only, without the final target
Thus I got encouraging statistics
11 positive deals and 0 negative ones during the time period since 08.07.2021 up to now
What confirms the correctness of analysis and approach
418.2% profit for a specified period of time using the leverage of x1
Thank you all for your attention and have a nice trade in the New Year!
9-22 ethereum update + crypto theories.good evening, i've decided to give you a guys a bit of history leading up to today, and my overall reasoning for changing my bias on the market a few months ago.
i'm going to include a vast array of posts, and plot-twists which i've published over the years, feel free to check them out if you're following along with me.
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there was a time long ago when i called the btc+ethereum tops; my first call out was on may 16th 2021 - around the time when btc had hit 60k for the first time.
my only basis at the time was a completed 5 wave impulse.
👇
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that summer after the initial crash, our proprietary indicator called out a weekly buy for the first time since the covid low, and my peoples and i pounced on the opportunity.
our indicator turned out to be correct, but at the time i was only looking for a B wave from the summer of 2021 lows, as things looked like they had come down in 5 waves from ath.
👇
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btc ended up over-extending, and i actually didn't catch the second part of that particular rally, but i did call out the next top successfully on spy, qqq, eth, btc.
👇
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at the time, i was still looking at this whole correction as one massive wave 4, with a bottom to be made between 40~30k through some kind of flat pattern.
but shortly after hitting 40k... btc did not give me the reaction i was looking for. so i re-analyzed my overall theory, and came up with a few flaws in my overall count with the new data which was provided to me by this marvelous market.
i figured there could be a chance we could go a lot lower... so we shorted it, because why not right?
👇
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the same thing happened in that 30k range.
was hoping for a bottom to be created, but the same kind of move presented itself as it did in the 40k range - a total trap.
so we shorted it again, and again, and again.
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i still have no idea if this whole move down is part of that wave 4 which i've discussed over the last few years - it sure could be, but i doubt it at this point.
feel like it's taking a bit longer than it should, and the overall market kinda seems wonky with all of the recent events.
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so my current bias, is the one which you see in this post.
👇
👇
basically an even larger wave 4 than i initially imagined, one of a much higher degree which dates back an entire decade.
this particular pattern is prevalent across many markets, in various parts of the world.
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spx500 + nasdaq both are displaying bullish signals yet again & our indicators are starting to call out these wild buys which are pretty rare. it looks like everything is lining up for another pretty large move up in the months ahead, but i think that move is yet again another bull trap, before another major descension into next year.
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nobody knows what comes next, we can only really theorize - but what we do know is, we've gotta be very strategic in this market, and use all of the resources we currently have access to at all times.
stay nimble, and humble, be vigilant and top of your toes - expect the unexpected, and bear with me while we get through this wicked market together 😎
cheers 🥂
🔥🔥 Futures on ETH: The roof, the roof, the roof is on fireBitcoin, Ethereum and most other cryptocurrencies fell on Tuesday 08-11-2022 following Binance's announcement of its intention to acquire FTX, heightening concerns about liquidity in the industry.
According to TradingView, the Total Market Cap - the global value of the entire crypto sector was down 15% on the past day, reaching $813 billion.
Bitcoin lost 12%, Ethereum lost 17.5% and Dogecoin lost 25%.
The FTX token crashed 84% and Binance's BNB also reversed a sharp previous 17% gain and turned negative, falling 6%.
“To protect users, we have signed a non-binding Letter of Intent, planning to fully acquire FTX.com and help manage the liquidity crisis,” Binance CEO Changpeng Zhao tweeted.
Zhao added that the deal is pending confirmation of his firm's ability to conduct due diligence on the FTX purchase and the exchange itself.
A liquidity crisis plagued the FTX exchange at the beginning of the week amid a sharp decline in FTX Token.
A CoinDesk report last week suggested that FTX-owned Alameda Research's balance sheet is heavily dependent on FTT, raising concerns that the two parts of the Bankman-Fried e mpire depend on illiquid cryptocurrencies rather than cash or other liquid assets.
The liquidity problems of the crypto sector arose after the crash at the beginning of the year, which erased $340 billion of market capitalization and lowered ETH from $3,900 to $2,200, followed by the collapse of the “stable” Terra UST coin, forming a steady series of crashes in the industry, following behind the increase in interest rates of the Federal Reserve against the backdrop of its fight against "indomitable inflation".
The technical picture in ETH futures points to potentially increased risks of further erosion and disruption of the crypto market as the U.S. Federal Reserve’s interest rate cycle nears its climax and logical conclusion before the end of 2022.
The left scale shows market expectations for a Fed rate by the end of Q1'23. That is well above 10-year US Government Treasuries yield.
Ethereum - Due to drift lower In August 2022, we stated a bullish narrative regarding Ethereum's “merge” is absolute nonsense that will be proved wrong as time progresses. Then over the coming weeks, we also expressed our worries about the FED meeting in September 2022. Indeed, just hours before the FOMC, we speculated that Ethereum could have experienced a short-lived bounce, followed by a sharp drop. Our assessment proved to be correct, and Ethereum bounced up after the FED decision and then fell with the rest of the market. Because of that, combined with fundamental and technical factors, we continue to be bearish on Ethereum. Accordingly, we stick to our price targets of 1000 USD and 900 USD.
Illustration 1.01
Illustration 1.01 shows simple support/resistance levels for ETHUSD.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SPX vs. NASDAQ vs. BTC1! vs. ETH1!: filling the gapsWe are in for a big week with the Fed's announcement on potential interest hikes and further tapering of their bond buying program. Are they already priced in? Let's have a look...
We have seen the typical panic across the board for the Fed's announcement (we knew this since last July!), the expectations are increased interest rates and potentially more than 4 hikes this year. Obviously, this is needed because of the record inflation numbers. However the Fed also wants to prevent heavy corrections in the market. Since the March 2020 lows, both stocks and crypto have been flying on monetary expansion and inflation creating a buy the rumor, and - when inflation numbers hit the market - sell the news.
We have seen a strong correction in Bitcoin, the S&P500 and the Nasdaq. Does this means interest hikes are priced in and this is the bottom? Maybe. But I still lean towards; no. There are many factors at play here, the most obvious one are the futures and options on Bitcoin, the S&P500 and the Nasdaq. With increasingly bearish action and bearish puts or shorts, market makers had to respond with a squeeze. Most obviously in Bitcoin, where a few hundred million of short liquidations were within reach. I also posted about a potential squeeze on Friday - even though price dipped further - a squeeze was expected and therefor always take profits before you get wiped out.
The ball is now with the Fed and I assume market makers already know the outcome of their new policy or have a clue. This defines also my trading strategy: what would I do if I was the market maker. Now, puts and shorts have been favor for the last week, creating reason for a squeeze, however, net gamm is still long and institutions have taken a hit with bullish calls on BTC. In the last 24 hours has seen a total of 300M liquidations (on all coins) and there is still liquidity to take out to the upside but offset that with immense call volume above 40K uptill 100K+ there is room for downside as well. With a relatively big options expiration on Friday, further downside towards the 30K zone could be favored even though max pain is at 42K. This is also seen in the higher volume in at the money options traded by the market makers to hedge against lower prices. Furthermore, puts at the 30K zone could be consumed by the market maker to create liquidity for a short squeeze in February - unless see a rally on Wednesday already if the Fed announces mild policies.
Short conclusion is: the market maker is neutral at this point having hedged against the recent drops and now awaits the reaction to the Fed on Wednesday. Mind you, they will know it much earlier than you so they will start to act before the news is out.
We can not trade any direction at this point and you're not missing out on anything if you're in cash right now. Risk / return wise cash is the place to be and it has been ever since my first warning in early December. Sentiment around Bitcoin is becoming increasingly bearish and Ethereum increasingly bullish; something that I expected for a while now and a full story on that later.
All gaps to the upside are filled here and there are only gaps left to the downside, a direction that market makers have been preparing and retail has not considered. Short term we can expect a choppy market again, long term I do expect further continuation of the trend especially if we can not reclaim the weekly 50 EMA. First, lets wait for Wednesday.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
ETH: new targets for May!After a strong run and a strong consolidation around ATH, ETH isn't done rallying yet! We see a bullish divergence on the RSI + a potential double bottom and a breakout out of its bullish triangle! As long as there are dollars, there will be higher ETH prices!
I hope to see further confirmation with more volume and if so; we have 3600$ as a first target this week and 4400$ as a second target for the coming weeks! The appetite for Ethereum hasn't stopped just yet and ETH is still a good buy on spot, be careful with leverage at these price levels! ETH is still bullish against BTC as well. We are on the road to 10K but we have to be patient to get there... (see my analysis linked below)
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
CRYPTO WATCH // 05: ETH to 3K and beyond (2 May)Its time for ETH to break the historical 3K mark today (or Monday) and set a new range of highs in May. Granted, a very bullish projection and prices wont only just go up but a 3400$ ETH in May is definitely within reach. First, break 3K!
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Ethereum CME Futures now live! BuyKeep your eye on ETH futures over the next 24 hrs. They will be a good guide as to where the crypto market is headed.
Press the follow tag below and ill keep you updated as an when with my thoughts ;)
Nice buy power tonight in the main ETHUSD chart ahead of futures opening so I'm back long. Price bounced strongly of support and is currently trading above the control line in the upward channel which shows bulls are back in control
Lets see how far up we can ride ETH now that CME futures are live!