Are we looking at a raging bull count unfolding in ETH?Greetings traders! After checking through a few different sources in the Elliott Wave community, there seems to be a line of thinking that we are on the verge of a true raging bull that will probably make this years rally seem like the entree! The general line of thinking is that we had topped out in the 3rd wave, but most people were at a bit of a loss to put together a convincing picture on how to label a possible 4th wave. Most agreed that the pattern the market was showing didn't look right.
Well, now it looks like there is a growing chance it wasn't and what we are seeing is the openings of another impulse that is set to take us much, much higher!. We can make the case for a smaller subwave impulse completing soon, and it potentially already has, but I believe traders should be waiting carefully now for any sign of a pullback in 3 waves because if that happens, we could see a blistering rally that takes even the most bullish crypto lover by surprise! Please keep yourself open to this count, be be aware it still has more work to do to unveil itself as the correct one
Ethusdtlong
₿ ETHUSDT 1D ₿ : 06.Sep.2021 (Update)As we can see, the price has reached the important resistance of 0.618 Fibo projection, and if the price can close above the $ 3948 price, we can expect this rally to continue.
BINANCE:ETHUSDT
⚠️ This Analysis will be updated ...
👤 Arman Shaban
📅 06.Sep.2021
⚠️(DYOR)
$ETH Crushing all its resistance and don't just care#ETH breaking all its resistance after a couple of tries.
Price is only a couple of percent away from ATH, which is its major resistance level too
the major reason for the pump is coinbase announced staking rewards on #ETH for the U.K and German users.
ETH Speculative Analysis & TargetSo what I'm thinking here is that ETH is going to head up to all time highs and that is going to become the neckline for some kind of cup & handle pattern. If this actually were to play out the price target would be right about $7k. It just so happens that when you pull the fib from 0 to all time high, the 1.618 perfectly aligns with the target that this pattern would have. Very interesting
💡Don't miss the great buy opportunity in ETHUSDTTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (3343.00).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 71.
Take Profits:
TP1= @ 3591.00
TP2= @ 3974.00
TP3= @ 4213.47
TP4= @ 4367.64
TP5= @ 4643.47
SL= Break below S2
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💡Don't miss the great buy opportunity in ETHUSDT". There is a possibility of temporary retracement to the suggested support line (3343.00).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 71.
Take Profits:
TP1= @ 3591.00
TP2= @ 3974.00
TP3= @ 4213.47
TP4= @ 4367.64
TP5= @ 4643.47
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Rectangle pattern in Ethereum* Ethereum in 4H time frame forms a Rectangle pattern chart pattern.
* A rectangle pattern appears when the price bonds between two parallel trend-lines opposite to each other, where the lower trend-line works as support and the upper trend-line as resistance.
* Rectangle pattern is a trend continuation pattern.
* In order to continue the bull run Ethereum needs to break the resistance.
* Ethereum is bearish below the support.
🟢 ETHUSDT 1D : (Update) Read The Caption 🟢The price is still fluctuating in this sideway range and does not follow a specific trend, we must note that in this range where the price is currently, there are all kinds of resistances and it will not be easy to break all these .
Personally, I expect the price to rise by 60% and I only give a 40% chance of the price falling.
⚠️ ETHUSDT 1D (Update) ⚠️The price is still fluctuating in this sideway range and does not follow a specific trend, we must note that in this range where the price is currently, there are all kinds of resistances and it will not be easy to break all these . We have to see how the price reacts to the X-Point.
ETHUSD Opportunities Read DescriptionIf you follow my previous analysis that I did for ETH a couple weeks ago I explained and marked the area in where there was going to be the possibility for a reversal because of profit taking. I closed my longs positions around that area after I saw that price was starting to create a distribution schematic. Now, with that being said, it never provided a reason to go short until a couple days ago when the daily trendline was broken. It was the only cryptocurrency that broke the long term trendline as many of the others remain in a bullish state. I waited for a retracement and failure to go above the 61.8% of the fibonacci on the smaller timeframe (1HR) and opened short positions, one already took profits and the other at break even and let it run for continuation.
Now, where could the next opportunities be taken? Well, if price manages to break the B point marked on the chart which in my opinion will do, we will have to wait until it reaches one of the two important key zones marked on the chart as not only they are key fibonacci levels, but are also the ones that have the most structure/ confluence with structure. It is important to understand that even though I opened shorts positions, price structure remains bullish and this will be just a pullback of the higher timeframes. However, if price manages to break the levels marked in the chart then the long term bull run will be invalidated. I do still believe that price will continue higher after reaching the first area marked on the chart, but it is highly important for us to be patient and wait for price to reject the area and create a support in such area before taking a long position. Stay safe, good luck, good trading!