Ethusdlong
ETHUSD to go longDon't forget to click on the follow button for more daily detailed analysis. Also, should you have any questions, please do ask them!
Similarly to BTC we are looking for an intraday fall so we can go Long at some great support + Key MA’s.
Alike to our BTC chart if you want a good price with lower risk.. Wait a little and lower your trade size.
Make sure your RM is correct when dealing with HVA’s or it can get nasty.. This means you do not HAVE to buy/sell everything all at once.
Price direction is shown by our arrows.
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.
ETHUSD turning longFor more daily detailed analysis, don’t forget to click on the follow button. Also, please ask any questions you may have and I will be happy to answer them.
Similarly to BTC we are looking for an intraday fall so we can go Long at some great support + Key MA’s. This is important as an aspect in getting a good entry. Price points must have exactly that.. a point!
Use correct RM when dealing with HVA assets. This is important because you can have larger swings than regular assets you are trading.
ETH/USDT 12 HOURS UPDATE Welcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures .
I have tried my best to bring the best possible outcome in this chart.
ETH bounce from this blu line support we are expecting a bounce from this level but we have to wait for 12 hours candle close if it will close upside the 21MA then I am bullish on it.
let see how the daily candle closes.
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section.
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.
ETHUSDT | Best Entry & Target PointIf you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of ETHUSDT , I think we are going to see an upward movement. If you are going to go long now, make sure to place the stop below the previous support area .
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
ETHEREUM NEAR FUTURE ANALYSIS (1HChart)Technical Analysis Summary
ETH /USDT
TREND ANALYSIS
We have 3 Downtrend in red color (1 Long term 2 internal)
We have 1 Uptrend in green color
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
The Yellow Daily Support Level is a level already tested and is not an entry level I added it only for explanation purposes but it could be a reversal level.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
If you find this content beneficial please don't forget to LIKE and FOLLOW
Trading Involves High Risk
Not Financial Advice
Exercise Proper Risk Management
ETH - two scenarios for Dec./Jan. price actionSince it became a deflationary currency ETH holders are holding much better in bearish market condition.
Recent flash dump was driven by liquidations which you can see even on volume, you don't need onchain or any other tool.
Since ETH broke through previous ATH resistance, the volume has been steadily declining expect for the May crash.
I don't expect new low for ETH in coming weeks. Pullback to daily support and very long trendline (orange scenario) or bullish one (green scenario) are 2 possibilities here in my opinion.
Also, notice my two "Untouched trendline since ATH breakout" trendlines which I didn't adjust since ATH breakout. Each time ETH dumped price dropped under it and recover. Because of that I place some buy order in "D support" area for wicks chasing.
In some crazy dump continuation I will wait for consolidation and bottom confirmation before any big buys. I always leave some % of FIAT in wallets. Green boxes are my targets in dump continuation case. I don't expect ETH to drop under "W + M support" box, but who knows, this is crypto and it can always surprise us all.
ETHUSD bouncingDon't forget to Click the follow button for more detailed daily analysis, also if you have any questions, please do ask them!
Here we have our ETHUSD chart.
We have looked long recently and we have confirmation on this Daily candle turning green.
Profit target is off from the current comfortable support up to Key MA's.
Trade small and incorp Proper risk management when dealing with assets like this.