ETHUSDPair : ETHUSD ( Ethereum / U.S Dollar )
Description :
Break of Structure
RSI - Divergence
Resistance Level
Bullish Channel as an Corrective Pattern in Short Time Frame
Completed " 12345 " Impulsive Waves
ETHBULLUSD trade ideas
The queen will follow the king in a bullish marketGreetings,
Dear friends, I hope you are well and have a week full of successful and profitable transactions.
I haven't been in the service of the companions on the Trading View platform for a few weeks because I was completing an educational resource. I hope I can make up for my absence from now on, but if I see a valuable market, I will share it with you.
The text of my analysis:
Yes, Ethereum is the queen of cryptocurrencies due to its more reasonable price. Like Bitcoin, it showed a corrective structure, which is a zigzag pattern. Based on my view, I have named it the fourth wave, and after that, an impulse pattern was expected to take place in the price, which is quite evident. But what is important is what correction pattern will be formed in this process and, more importantly, how much of the Fibonacci correction will be removed! Is it shallow or deep? (Each wave moves or expands in proportion to its previous wave) that we will again see price action with an impulse pattern. In addition, Ethereum will surpass the progress of Bitcoin in its past trend but in proportion to the growth.
It should be noted that we should be patient until the completion of any type of corrective pattern and in a lower time frame, we should use channeling in the variety of patterns because usually, a corrective pattern ends in two parallel lines.
Note: I am an analyst in the world of principle wave, who has entered the fourth year of my work experience, and I am developing an analytical idea. In financial markets, there is no 100% certainty due to the complexity of different patterns that can change. However, I do my best to back up every analysis I share with you guys with everything I've learned so far.
A brief explanation of the three fundamental laws of the wave principle:
1. The second wave should never go beyond the beginning of the first wave.
2. The third wave should never be the shortest wave between waves 1, 3, and 5.
3. The fourth wave must never enter the territory of the first wave.
Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future, simply.
May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world.
I am attaching the analysis of this market that I shared with you earlier to this current analysis.
The last word of my analysis text is repetitive, except to explain the current analysis because I also trade in the financial markets and I am active in my social networks, and I work hard to improve my skills in analysis and trading to reach my goal.
I apologize for repeating the text.
I welcome suggestions and criticisms, and I will respond, but a logical reason is important to me.
Thank you for taking the time to review my analysis.
First of all, I wish good health and success to all my dear friends and colleagues.
Mr. Nobody
Elliott Wave Analysis on Ethereum (ETH/USD)Major Wave Structure
1. Primary Waves
• W-X-Y-XX-Z: The chart begins with a complex corrective structure indicating a prolonged corrective phase.
• 1-2-3-4-5: Following the complex correction, an impulsive wave structure is apparent, suggesting the beginning of a new trend.
2. Subwaves
• Each primary wave consists of smaller-degree waves, identified using numerical (1, 2, 3, 4, 5) and alphabetical (A, B, C) labels.
Detailed Breakdown
Corrective Phase (W-X-Y-XX-Z)
• Wave W: Indicates an initial corrective phase, typically forming a zigzag pattern.
• Wave X: A connecting wave that can take the form of a triangle, flat, or zigzag.
• Wave Y: Another corrective wave similar to wave W.
• Wave XX: Another connecting wave, similar in structure to wave X.
• Wave Z: The final corrective phase in the complex structure.
Impulsive Phase (1-2-3-4-5)
• Wave 1: Initial impulsive wave marking the beginning of a new trend.
• Wave 2: Corrective phase, typically retracing part of wave 1.
• Wave 3: The strongest and usually the longest wave, often extending to 161.8% of wave 1.
• Wave 4: Another corrective wave, usually less severe than wave 2.
• Wave 5: Final wave in the impulsive phase, often displaying divergence with indicators like MACD or RSI.
Fibonacci Levels
• Fibonacci retracement levels are crucial in identifying potential reversal points and are marked on the chart:
• 23.6% Retracement: Around 3367.855, indicating a potential resistance level during a pullback.
• 38.2% Retracement: Near 3279.830, suggesting a significant support level.
• 50% Retracement: Often considered a strong support or resistance level, located around 3219.320.
Future Projections
1. Current Scenario
• The chart indicates that Ethereum is currently forming wave (2), which is expected to continue downwards, with potential support around 3279.830 or 3219.320.
2. Wave (3) Projection
• After completing wave (2), an upward impulsive phase (wave (3)) is likely to begin. This wave could extend towards new highs, potentially targeting levels above the previous peak of wave (1).
Conclusion
• Short-Term: Expect a downward correction in wave (2), with support around 3279.830 or 3219.320.
• Medium-Term: A strong upward movement is expected to follow in wave (3), potentially reaching new highs.
• Long-Term: Continuation of the upward trend in waves (4) and (5), with final targets determined by the extent of wave (3).
Trading Strategy
• Entry: Consider entering long positions near the end of wave (2), using Fibonacci support levels around 3279.830 or 3219.320 as potential entry points.
• Stop-Loss: Place stop-loss orders below the 50% retracement level to protect against deeper corrections.
• Targets: Set initial profit targets around the previous peak of wave (1) and adjust positions based on the development of wave (3).
ETH - MIXED SIGNALSThe Ethereum chart actually looks stellar, even in light of the expectations, which I will lay out below. Price is testing the center of the red range as support and Trading Alpha has sustained bullish dots. We had the breakout from the blue descending bull flag and a retest as support. All good.
But I have concerns.
It is hard to expect a good performance from the ETH ETFs to start, but this market tends to do exactly the opposite of what you expect.
The rationale is that we see a major sell off, like we did at the beginning with the Bitcoin ETFs. Why? Not because it is a "sell the news" event. The reason is... Grayscale.
When the BTC ETFs launched, GBTC fees were 1.5% - 5x the average competitor. Ridiculous. So we saw billions of dollars in immediate and sustained selling pressure, sending price from $49,000 to below $39,000... before going up to $74,000.
Grayscale set their fees for ETHE at an astounding 2.5%. ETHE has MUN:10B in AUM, which you can expect to largely be sold into the market. That is 10X the fees of BlackRock et al. ETH is a smaller asset than BTC, so this is a huge amount of potential selling pressure relative to the market. Am I bearish? No. Am I looking to potentially buy ETH much cheaper before demand kicks in? Yes.
It may not happen.
Jul.16-Jul.22(ETH)Weekly market recapThe rise from the excellent CPI lasted for 10 days, and Biden’s quit from the next presidential election continues the bull trend. The pricing for CPI has ended. The market has once again entered a macro cooling period. We don’t think PCE on Friday will change anything. The next important macro event will be the FOMC release at the end of the July. Although it is almost impossible for the next FOMC to cut interest rates, bulls need to find reasons to maintain strength from the FOMC statement and Powell's speech.
Also worth paying special attention to in the coming week is the Bitcoin 2024 conference. Trump will take the stage to give a speech on the last day. If he really includes BTC as a strategic reserve of the United States as he said before, then BTC will be crazy about it.
On the other hand, the ETH ETF was officially approved a few hours ago, and will officially trade in the next session. This is a bullish event for ETH in the long term, but in the short term, the market reaction is not ideal. We believe that the trend of ETH may be the same as that of BTC through ETF. Take a break and then go up.
ETH encountered bearish strength after hitting 3500. The performance over the past seven days has been weaker than that of BTC. The ME indicator continues to maintain its bullish trend. But judging from the WTA indicators, like BTC, whale participation has been low in the past seven days, and even the transaction volume has continued to decrease.
In summary, we believe that ETH may remain fluctuating this week. The probability of rising is greater than falling. The approval of ETF will benefit ETH in the long term, and the ETH/BTC rate will rise. We maintain the resistance level 4000 and support level 2800.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
ETH ready for another rally?#ETH
Ethereum’s weekly close was bullish, climbing back above the 20-week moving average. The $3,300-$3,400 resistance level has now turned into support. The next resistance is at $3,980-$4,000.
Disclaimer:
The information is for educational purposes only, not financial advice. DYODD & TAYOR. Don't test the depth of the river with both feet.
ETH ETF approval date todayFor looking back and checking in the future. Bitcoin had an ETF and experienced significant price appreciation, predicting that ETH etf does the same for ETH price growth.
ETH ETFs to Follow Bitcoin's Footsteps?
ETH/USD is expected to experience increased volatility this week, with spot Ethereum ETFs set to go live on Tuesday, according to Bloomberg. The Securities and Exchange Commission (SEC) is poised to finalize updates on the products today.
Ethereum ETFs follow the path of eleven trading spot Bitcoin ETFs, which have amassed over $54 billion in assets under management since their January debut. Bitcoin has surged 47% this year.
Demand for the ETH ETF funds are projected to be 20% that of the spot Bitcoin ETFs, according to Bloomberg analyst James Seyffart. Meanwhile, the Bitcoin 2024 Conference will commence on July 25, featuring Republican nominee Donald Trump, who is set to discuss a potential US Bitcoin strategy. Speculation is rife that Trump may announce the creation of a U.S. Bitcoin strategic reserve during his highly anticipated appearance.
David Bailey, the organizer of the Bitcoin 2024 conference has also hinted that Tesla CEO Elon Musk could make a surprise appearance at the event. Musk recently updated his X profile picture to feature laser eyes, a symbol among bitcoin and crypto enthusiasts as noted by Michael Saylor, founder of bitcoin-buying software company MicroStrategy, alongside a screenshot of Musk's new profile picture.
Ethereum Spot ETF TOMORROW! Expect a HUGE Sell-Off!The Ethereum Spot ETF launches tomorrow, July 23, 2024.
Over the 12 days following the Bitcoin Spot ETF launch on January 11th, CRYPTOCAP:BTC retraced ~20%
If Ethereum follows this pattern, it should fall to ~$2,800 around August 4th.
We know that Grayscale holds ~$9.87B CRYPTOCAP:ETH and it plans on charging its customers 10x the management fee vs competitors.
I very much expect a big sell-off because of this, possibly greater than 20%
ETHUSD morning updateUpdated ETHUSD bullish count. I'm still looking for an extended wave (5) of iii, ideal target 8755.92.
Additional/alternative bullish targets include median lines of drawn pitchforks.
ETH/USD: How To Call It (Range Bound)ETH/USD has been floating within slightly lower highs and higher lows.
Ultimately, you will go either way once sentiment changes. At the moment, there is no real clarity and movement is diverging from FED soft landing rhetoric.
Ideal to either wait, or trade within ranges tightly.
Bullish breakout?ETH/USD is reacting off the pivot which acts as a pullback resistance level and could potentially breakout to the pullback resistance.
Pivot: 3,530.53
1st Support: 3,375.84
1st Resistance: 3,709.39
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Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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Ethereum - Bullish CampaignThe major key-level support of 2920 is getting tested again by price action. This is prime location to pickup the Ethereum with the intention to ride it all the way back to where it came from. Next big resistance levels are at 3216 and 3568
SELL THE ETHUSD STILL EYEING THAT LEVELSwing trader is wat i do.. is how m built .. its within... it remains and we dont give up, we must win, even if there is high probability to lose. THE GAME SAYS U WIN U LOSE.. STAY IN CHECK STILL EYEING 2920 LEVEL ;) WE SEE HOW IT GOES.
REMEMBER:- ALWAYS STICK TO YA SYSTEM, no matter the situation. ;)
ETHUSD - ETHEREUM LongWe are in a nice bullish trend and have a strong monthly rejection. At the start of the week we have a resistance (3420) which we have broken through.
A pullback is quite possible but overall very bullish
Eth could be ready for a major moveEth Daily chart shown here.
Eth is bouncing off a long term support which is also lining up with the 200 simple moving average. It might go to back-test this support before the pump.
RSI is ready to bounce off a rising trendline.
Target for this long is 2,544 which from the expected test is around 50% shown on the infoline.
NFA
Do your own DD
ETHEREUM: 21 JULY, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M (Master's Designation).
(Left Chart) The broad context analysis (2D Chart):
The broader context shows that ETH has started to rise since wave (4)-orange ended as a Zigzag. In fact, wave (4) concluded earlier than my initial expectation, so the Bear market trades from last week did not perform as anticipated.
Wave (5)-orange has resumed and will continue to push higher, with the primary target being the high of 3,973. The price must remain above 2,822 to maintain this view.
On the other hand, analyzing smaller time frames will allow us to delve into details and seek trading opportunities at more favorable price levels.
(Right Chart): Short-term outlook analysis (6H Chart):
The short-term outlook indicates that since the low of 2,822.64, a five-waves pattern has been unfolding to push higher, subdividing into wave (iv), which seems to have completed at the low of 3,367.65. Closer observation shows that wave (i)-orange unfolded as a Diagonal, and waves (ii)-orange and (iii)-orange have completed.
In terms of strength, the third wave performed well, showing strong and sharp price increases. Therefore, there is considerable evidence that this five-waves pattern will continue to push higher.
Current price action suggests that since the low of 3,367.65, wave (v)-orange has been unfolding to push much higher, potentially aiming for targets at the high of 3,973.90 or even further. The price must remain above 3,367.65 to maintain this view.
On the other hand, a drop below 3,367.65 would indicate that wave (iv)-orange may be extending longer than expected. However, this is less likely to occur, and you should generally bet on what happens more frequently to maximize the advantages the market offers. Wave 4 cannot "overlap" with wave (i), so a high of 3,3220 is the level to watch for when the wave count may be invalidated, requiring a re-evaluation of the entire situation.
ETH Sells back to Major Support level *I am in no way a financial advisor and you should always do your own due diligence before placing any trade. Do not trade what you are not comfortable with losing. No trade is guaranteed.
Price looks like it has reached it peak for the current bull move and has reached a level of resistance it wants to react to. From here it should make its way back down to support ( 2800s area) for long buys back to price high on the daily resistance level ( 4,000s price range )
ETH WeeklyI believe Eth and other crypto majors are going to see a huge parabolic run as shown here. Levels listed
When $ETH Money Flow Index turns green, new ATH! CRYPTOCAP:ETH has scaped the downward channel, but is still inside the horizontal channel (both in yellow)
Note the blue diamond from Detonator A Indicator forming now, indicating a possible local end of trend
Price will need to retest the support of downward channel first, as it coincides with both EMA200 (green tick line) and MA200 (red line)
After that retest, price will follow to the upper resistence level of the horizontal channel as the ATH box is a attractor for price because former trends have targets over the ATH box (those purple arrows)
When MFI (Money Flow Index, below pannel) turns green again, you know we will reach new heighs!
ETH Weekend Analysis. Low Risk TradeLooking for a candle close on the 4HR above the last highest wick.
Should guide us straight to the next purple level above around the time of the Spot ETF release.
Wait to scale-in at the edge of box of 4H chartTrump is lenient towards cryptocurrencies, and recently, due to Trump, there has been a significant surge, including Bitcoin.
The daily chart seems to indicate a rebound for several more days. The 4-hour chart shows a consolidation within a range, with a high probability of a future upward breakout. The entry point could be at the bottom of the range if it breaks the support, or upon breaking through the top resistance of the range.
Ethereum / US Dollar | Range Idea | Weekend Crypto SessionWithin a 100K Account Balance the split on Trade & Risk Management = 1/10% - 1/20% margin as an Execution Range, to set up an Order Entry and select to per Trade on Average, to avoid any drawdown hit regarding to Stop Loss & to execute Risk on Management Specifics. Trail Stop efforts are a Focus of Attention to the set up in general when Volatile-Price-Action is involved, mainly because of the usage of an Intraday-Scalp-Position tool on behalf on the Trade Plan in general.
# POSITION | RR | 15 Minutes Time Frame
- Measurement on Session
* 1000 EMA
* Retracement | 0.5 & 0.618
* Extension | 0.88 & 1
# LOWER DEGREE | 1 Hour Time Frame
- Behaviour & Subdivision
- Measurement on Session
* 1000 EMA
* 100 EMA
* Retracement
# HIGHER DEGREE 4 Hour Time Frame
- Subdivision & General Trend
- Measurement on Session
* Retracement
* Support & Resistance
* Trade Area | Focus & Motion ahead
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
* Weekend Crypto Session
