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Ethirium

ETH global correctionGlobally ETH still has the possibility of updating the ATH but without a preliminary correction it seems barely possible for me. We can see a huge amount of liquidity from below up to the 2500 level without areas of imbalance though. Positive funding is also the reason for my bearish attitude, a large number of long positions never allow you to grow further. I expect reaction from OB1. It is possible to puncture upwards to collect liquidity and further descend downwards, collect liquidity and further reaction from OB+
Short
by glazirovaniysirok
1
Anticipated Rise of Buterin's Brainchild Before CorrectionIn recent days, the price of Ethereum continues to be under pressure from the Bears, moving in the price range of $1560-$1750. We expect that in the coming hours, the accumulative phase of Buterin’s brainchild will end, and then the upward movement will begin within the last subwave (5). When Ethereum reaches a strong resistance zone in the $1732-$1738 range, a corrective pattern will be completed, namely a single zigzag ⓐ- ⓑ -ⓒ. In the medium term, bearish pressure on bulls will increase due to the growing likelihood of a Fed rate hike in early 2024. As a result, many investors continue to prefer to invest their money in more conservative savings instruments. As a result, we expect Ethereum to reach $1,565 by mid-Q4 2023. Moreover, since the first quarter of 2022, a total of more than $40 billion of capital has been redeemed, representing an overall decline of more than 25% from the peak set at the end of March 2022. As a result, this reflects the impact of the tightening of monetary policies carried out by central banks in recent quarters to contain inflation. Moreover, rising energy prices are preventing the Fed from achieving its desired results, which could ultimately lead to more radical steps. In addition, USDC has shown a decline of about $30 billion since July 2022, partly a reflection of investment funds continuing to invest clients' money in high-yield bonds, REITs, and artificial intelligence-related companies. Some theoretical knowledge for traders/investors who are just starting their journey in the financial markets. In Elliott Wave Theory, a single zigzag is a corrective wave pattern consisting of three waves labeled A, B, and C. It is one of the most common corrective patterns observed in financial markets. The first wave, wave A, moves against the primary trend and is typically a sharp and impulsive decline. Wave B is a corrective wave that follows, representing a partial retracement of wave A. Finally, wave C is the last leg of the zigzag and moves in the direction of the primary trend, often being an extended and strong upward movement. Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
CRYPTO:ETHUSD
by AisenQuantum
1