ETH - I love how it looks right nowShort term ETH looks like it is ready for some upwards movement. At least for some short squeeze or dead cat bounce before another drop (in correlation with BTC dump, if it occur ofcourse).
- back to trendline (dotted trendline untouched since breakout) ✅
- oversold condition on Stoch RSI on 3D & W chart ✅
- back above RSI trendline ✅
- big wicks on W chart for every drop ✅
Ether
The last standEthereum has shown weakness recently and has landed on its key support. It's very important for ethereum to hold this level because below this level ethereum is bearish. Also we can see a pretty big falling wedge which is a bullish pattern so we hope price hold the support and break the falling wedge so we will have a rally. In bearish scenario price loses its support and breaks the bottom of the wedge then next key level will be 2700.
Push like button
Good luck.
ETH - just follow these scenarios!!!ETH, like bitcoin, can follow two main scenarios:
- First and best scenario, a return to the $4135 level, squeezing, and a breakout of the level.
-The second scenario is a decline and a re-low of the $3500 level.
Best time to buy in case of the first scenario and also in case of a false breakout of the $3500 level.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
ETHUSD End of 2021 Price TargetsLooking at the 4-hour time frame of Ethereum we can see that just like Bitcoin, it is at a crucial point heading into the new year.
Ethereum found its bottom with the scam wick along the $3,431 level and knocked out all of the over-leveraged longs from early entry prices. From this point on, Ethereum along with many altcoins, has been slowly accumulating and creating higher highs and higher lows.
Just last week, Ethereum finally regained the 2.618 Fibonacci level of support at $3,821 and closed out the support area bullish at $3,821 - $3,921. From here, it gained $4,003 as a level of support and is now headed towards flipping $4,161.
If we can see a flip of the $4,161 resistance into support, Ethereum is headed towards the $4,339 - $4,388 May 2021 ATH price targets for just short of a 10% play.
ETHUSD 100MA Will it HODL?The 100MA has previously been seen as a point of support for price
Price is currently trending just above it, hopefully this is a reversal point and we see a takeoff out of the triangle
The opposing triangle direction to the previous must also be acknowledged and this places a bearish assumption however,
Hopefully price just continues and avoids this emerging rising wedge/triangle
Ethereum to give clear breakout by Dec 31COINBASE:BTCUSD
Ethereum is taking support at the Fibonacci channel base line formed from the lows of July 2021 (as shown at 2 in chart)
Observations in the last 11 trading sessions.
1. Bounced from the lows almost every day and maintained the support line.
2. Faced resistance at 38.2% Fibonacci retracement level (Sep low to Nov High – as shown at 1 in chart)
Support line and resistance line are making a triangular pattern, end point of which is Dec 31, 2021.
Focused triangle area can be observed on the right hand side.
Hence Ethereum to give clear breakout either side on or before Dec 31, 2021.
Long $ETHUSD based on Elliott Wave TheoryHello, friends! I would like to briefly talk to you regarding Elliott Wave Theory and how we can use it to our advantage.
Brief history and intro:
Ralph Nelson Elliott concluded that the movement of the market could be predicted by observing and identifying a repetitive pattern of waves. Elliott first published his theory in the book titled The Wave Principle in 1938. Elliott was able to analyze markets in greater depth, identifying the specific characteristics of wave patterns and making detailed market predictions based on the patterns.
Basic Principles Elliott Wave Theory:
Movement in the direction of the trend is unfolding in 5 waves (called motive wave) while any correction against the trend is in three waves (called corrective wave). The movement in the direction of the trend is labeled as 1, 2, 3, 4, and 5. The three-wave correction is labeled as a, b, and c. These patterns can be seen in long-term as well as short-term charts.
An example:
Elliott Waves are like a piece of broccoli, where the smaller piece, if broken off from the bigger piece, does, in fact, look like the big piece.
Market prices alternate between an impulsive, or motive phase, and a corrective phase on all time scales of trend. Impulses are always subdivided into a set of 5 lower-degree waves, alternating again between motive and corrective character, so that waves 1, 3, and 5 are impulses, and waves 2 and 4 are smaller retraces of waves 1 and 3. Corrective waves subdivide into 3 smaller-degree waves, denoted as ABC. Corrective waves start with a five-wave counter-trend impulse (wave A), a retrace (wave B), and another impulse (wave C). The 3 waves A, B, and C make up a larger degree corrective wave (2). An impulse-wave formation, followed by a corrective wave, forms an Elliott wave degree consisting of trends and countertrends. In a bear market, the dominant trend is downward, so the pattern is reversed—five waves down and three up.
Elliott identified nine degrees of waves, which he labeled as follows, from largest to smallest:
-Grand Super Cycle
-Super Cycle
-Cycle
-Primary
-Intermediate
-Minor
-Minute
-Minuette
-Sub-Minuette
Since Elliott waves are fractal, wave degrees theoretically expand ever-larger and ever-smaller beyond those listed above. Simply because the market is a fractal does not make the market easily predictable. Scientists recognize a tree as a fractal, but that doesn’t mean anyone can predict the path of each of its branches.
Now that being said we can conclude that ETH has completed supercycle and intermediate wave 2. The next wave will be wave 3.
Wave 3 must be an impulse wave, cannot be the shortest of 1,3 & 5. Wave three is usually the largest and most powerful wave in a trend. Prices rise quickly, corrections are short-lived and shallow.
Wave 3 rally picks up steam and takes the top of Wave 1. As soon as the Wave 1 high is exceeded, the stops are taken out.
Keep top resistances in mind.
This is not financial advice, always do your own research before investing in any stocks or cryptocurrencies.
Can ETH retrace a little lower?Looking at the chart marked out, what we can see is that ETH is clearly trending in a bullish manner. Placing a fib on the last impulse we can see we have 2 blue zones of importance marked out that the price can potentially move down into for a further draw of liquidity. The 200 day moving average also lies within those zones that can potentially act as a level of support for the price.
I have also pointed out 2 highs marked by the black line that i would like to see broken in order to say we are back in a bullish momentum.
Btc update : What's next ?Hey guys, today I'm going to share with you my view on Bitcoins next move
As shown in the Bitcoin chart ,
it has been in a downtrend since November 10, and it has started forming a lower low and lower high , and this is a bearich sign .
i have 2 possibitlity in my mind
first one :
the bitcoin will break the black trendline , and the target will be the red zone, and then we will see how Bitcoin react with the $52k area
seconde one :
if the Bitcoin does not break the black trendline we will go to 40k , I am waiting for the candles, how it will react with the trend, and I will make a decision either to buy or sell .
i hope you like my analysis , D'ont forget to follow me for more ideas
Counter-trend Rally in Ether, Target at 4200Trend Analysis
The main view of this trade idea is on the 15-Min Chart.
There seems to be a triple bottom at around the 3650 level for the cryptocurrency Ethereum (ETH). After the third test of this support ETH rallied and hit some resistance around 4125. From there it made a higher low at around the 3700 price level. Currently ETH is trending higher from those levels, after breaking above 3910 resistance the cryptocurrency is attempting to re-test 4200 with the Awesome Oscillator (AO) and RSI corroborating this view. The AO is currently above zero and green and the RSI is above the 50 level. A change in trend would be identified if ETH falls below 3850.
The Point and Figure Chart provides an alternative perspective to ETH’s price movements. From this chart ETH is currently in a symmetrical triangle setup with the higher lows at 3770 and 3912 while the lower highs are at 4110 and 3988. At the time of publishing ETH broke above resistance. This produces a target price of 4160. Complementing this setup is the AO trading above 0 and green and the RSI being above the 50 price level.
However, on the Daily Chart, ETH is still in a corrective mode. To change this view the cryptocurrency has to break above 4412 resistance.
Recommendation
The recommendation will be to go long at market, with a stop loss at 3850 and a target of 4200. This produces a risk/reward ratio of 1.98.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to ETH.
ETHUSD and BTC Monthly ComparisonAs you can see the charts on the monthly (not log) are very similar!
With a 1000% increase on BTC (BLX chart) to the top, applied to the ETH chart puts the price at around 12 - 13K
The MACD's on the Monthly are also very similar
Also the positioning of the 50MA
This chart excites me
Ethereum is Going to $6800 Area Only if..If you are here only for the title , the answer is: ..only if the price action remains above 0.618 Fibbonaci retracement located at $3660 , then the price action is likely to move into to the 1.618 extension located at $6800 .
It's really incredible how Ethereum manages to hold such high value meanwhile Bitcoin is really struggling. Every time Ethereum has seen a much stronger dip, or an correction, than Bitcoin does.
As of right now, Ethereum is just -20% below the all time high at $4870 and Bitcoin is located -32% below the top at $69000!
Intraday dips continue to attract buyers and rallies doesn’t really attract sellers.
Let’s move to the technical. there has to be something hidden that will suggest that a correction that will overcome Bitcoin’s losses will follow, right?
Fibonacci retracements.
It’s very impressive how this Fibonacci has turned out. The key level of 0.618 has been successfully tested as valid and strong support as 4 days of price action are suggesting.
If Ethereum doesn’t fall below this golden ratio 0.618 retracement located at $3660, Ethereum could be very easily for extended gains to the $6800, where the golden 1.618 extension is located.
Price action.
Price action seems to have formed a falling wedge formation, which usually occurs in a correction and suggests a break to the upside from a correction.
Exponential moving averages.
Overall trend indicators are suggesting that currently Ethereum is in daily downtrend as the 20 EMA fell below the slow 50 one. The price action however doesn’t seem to be reacting.
Relative strength index.
Ethereum hasn’t seen a proper bearish momentum yet and RSI tells us the same story. As RSI is able to hold above 40, no bearish momentum is present. However it’s hovering at pretty thin ice and break below 40 will attract sellers.
No divergence can be found.
Moving average convergence divergence.
A selling wave is currently ongoing while the bearish volume continues to decrease. Same as for Bitcoin, both Moving averages need to go above neutral, 0, level in order to give a proper buy signal.
Very Similar Formations A comparison between ETHUSD and YFIUSD
there are some simarilities mostly including structural price formations
The separation between the two includes the 200MA, which is rising in ETHUSD and could act as a support, while on YFIUSD it is descending
Lets see how it plays out
I am long ETH