eth,long,White line support.The local downward target happens to be supported by the white line, which is the upper boundary of the oscillation range.
ETHUSD trade ideas
feeling the vibes man. ETH to Moonjust the vibes. I feel like this is going to get going soon. did well in the past.
Eth to 3.8-4k before end of yearTest recent lows and break ath. Will follow BTC price action and use new ETFs to boost volume
Less is more...If you don't know me, I have been a trader a very long time. Nearly 25 years to be exact.
Over the years, I have spent a lot of time studying a wide array of techniques, tools, patterns and market sentiment. Lucky enough, the markets have also been very kind to me.
I've been fortunate enough to have two trading books published by large traditional publishing companies. So it's safe to say, I live and breathe trading.
I am going to do a series of posts here covering a couple of key educational topics - starting with Elliott Wave theory.
When it comes to Elliott Wave theory, there seems to be a love hate relationship for many people. Some get it, some see it as not relevant. To be honest, both are correct.
Now before you jump on the high horse "it doesn't work for crypto" - let me start by saying, this is not a lesson on how to use Elliott Theory. I covered that in these posts below;
And step two;
In terms of using Elliott, it's not as simple as trying to figure out each and every move. (this is often why, it does not work.) Instead the benefit of Elliott, is to accept it as a bias tool that aids in understanding the current market sentiment.
We often see posts online about things like the Wall Street cheat sheet. I also covered this in another post here on @TradingView
Where the theory has any real value, is simply to obtain a bias. The market is always searching for liquidity. In order to obtain liquidity, the market needs to attract players for the game.
Now, you have probably entered a trade and felt almost immediately that the market has pushed against you, it's out to get you and the brokers are playing 1 vs 1 against you.
This is where sentiment really comes in.
As a retail trader you have likely been exposed to tools such as RSI, MACD or even dabbled with Elliott and Wyckoff. But the reason the market does, what the market does, is not to get you as an individual, instead it's there to collect liquidity from a crowd.
Elliott wave theory isn't a technical tool, it's a sentiment tool.
So instead of trying to guess every internal and nested swing, you can make an awful lot of money by simply giving a directional bias.
I wrote an article in 2021 here -
About the emotions, I used the Simpsons to get the point across. The general idea is to understand where liquidity is likely to be and use that to make informed trading decisions.
If you have any specific questions, even topics you would like covered, leave a comment below. I'll add to this in another post as part of this series.
Stay safe and wish you all the best.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
eth long so easy Purple red upward channel, the lower boundary support position begins to rise, at least reaching the upper boundary
Ethereum priming for MAJOR upside target 2 at $5,421Symmetrical Triangle is forming on the daily.
There is also a Cup and Handle in the middle of it confirming upside along with a strong uptrend line.
Target 1 hit at $3,527 with the previous W Formation. So now we can expect the next target $5,421.
Uptrend (Check)
Target 1 hit $3,527
Target $5,421
The ETH RUN ? With the crypto halving this year and upcoming elections, the countdown to more mass adoption in crypto has begun. Ethereum (ETH), being the second largest cryptocurrency, now sits above the $3,000 level and has been creating a range for the last 147 days. soon I speculate $4000 then $5000
Why Ethereum (ETH) Will Be Bullish
1. Recent ETF Approval
Increased Investment: The approval of Ethereum futures ETFs makes it easier for big investors to buy into Ethereum, boosting its demand and liquidity.
Legitimacy: Regulatory approval signals that Ethereum is seen as a legitimate investment.
2. Recent Halving
Reduced Supply: The halving event will decrease the supply which can lead to higher prices if demand stays the same or increases.
3. Growing Adoption
Institutional Interest: Big companies and financial institutions are investing in Ethereum, driving up its value.
DeFi Growth: The rise of decentralized finance (DeFi) increases the use of ETH for transactions and as collateral.
4. Technological Advancements
Ethereum 2.0: The upgrade to Ethereum 2.0 will make the network faster, more secure, and more energy-efficient.
Smart Contracts: Ethereum is the top platform for developing decentralized applications and smart contracts, which are essential for the blockchain ecosystem.
5. Positive Market Sentiment
Historical Performance: Ethereum has shown strong growth after key upgrades and market events.Market Perception: There is increasing recognition of Ethereum’s value, boosting demand.
6. Regulatory Clarity
Clear Regulations: Better regulatory clarity in major markets reduces uncertainty and attracts more investors.
7. Economic Factors
Global Trends: Economic issues like inflation can drive more people to invest in cryptocurrencies like Ethereum as a hedge against traditional financial markets.
Ethereum trend analysisIt seem likely that ETH holds 3000 level, we go down till RSI is down, it will touch EMA 200 and verify trend, and then maybe time to 5000, who knows.
ETHEREUM BEARISH BIAS|SHORT|
✅ETHEREUM made a retest
Of the horizontal resistance of 3,400$
And we are seeing a bearish reaction
So we are locally bearish biased
And we will be expecting a
Further move down
SHORT
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Sideways market.Market isn't showing any clear direction. After a bullish move its just taking time for a direction most probably for high side.
$ETH Swing Long- Parallel channel retest
- failed break below previous week value
- Bouncing off yearly VWAP
The Progression of the Market!!! (Intro to ETH Update)I will do another video going further into the ETH chart specifically using these concepts - but this is a great introduction because exactly what I pointed out in my drawing is what is happening in the Ethereum chart.
Stay Tuned!
Happy Trading :)
Jul.23-Jul.29(ETH)Weekly market recapTrump inspires crypto market at Bitcoin 2024. He stated that if he enters office, it will remove Gary Gensler from SEC leadership as soon as possible. And the US government will not sell BTC holdings, whether currently held or potential future purchases, as a special way for strategic reserve. The market was attracted by his promise and BTC began to rise away from ETH, touching 70000. If Trump is elected and keeps his promise, BTC will start a new bullish channel after November.
On the other hand, this week is a big data week. The FOMC will be held on Thursday. Although we all know that there will be no interest rate cuts, as long as there are no hawkish views in Powell conference and the FOMC statements, the market will price in further interest rate cuts. On this Friday, the U.S. Department of Labor will release employment data for July. Likewise, as long as the employment data does not strengthen significantly, the rise will not be interrupted.
ETH’s performance last week was weaker than BTC’s. Because Bitcoin 2024 did not mention ETH, ETH trading volume on Saturday was the same as usual. Judging from the WTA indicator, the number of blue columns representing whales increased significantly last week, which is different from BTC. Perhaps it is because the listing of the ETH ETF has attracted whales to hold ETH. Judging from the ME indicator line, the long-term fluctuation has further narrowed the purple wavy area.
In summary, we continue to maintain a bullish view on ETH. ETH is more likely to rise than fall this week. We maintain our previous 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.
Buy at 3274Ethusd has found some temporary support at 3264 on the 30 min tf. A retest of this zone is expected and a lower is expected from Eth with the TP being at 3390.
ETHEREUM Showing Continuation PaternETHUSD Showing continuation pattern despite devirdence. making lower lows and lower Highs
it will furthur continue the Bearish Trend
$ETH forecast next 4 years. I see a lot of exceptionally bullish posts for ETH for the remainder of 2024. In my opinion, this is not correct — the S&P looks very toppy, and I think a reasonably large pull back is to be expected.
$ETH forecast next 4 years. I see a lot of exceptionally bullish posts for ETH for the remainder of 2024. In my opinion, this is not correct — the S&P looks very toppy, and I think a reasonably large pull back is to be expected.
Bitcoin Investing Essentials(7/29-8/4)A Sneak Peek at This Week's Big Events (7/29-8/4)
This week is a big macro week, last week's bitcoin conference released the goodwill of the U.S. political community on crypto, this week's main news returns to the macro market —— the Bank of Japan and the Federal Reserve's interest rate resolution are very noteworthy, because despite the market's expectations of a more consistent, but once there is a news of exceeding the market's expectations are going to be the heavyweight bomb.
🌟 Heavyweight events this week:
7/31 Wednesday**
💼 US ADP Employment for July
💼 Bank of Japan announces rate resolution and outlook report
8/1 Thursday***
💼 US initial jobless claims for the week
💼Fed interest rate decision
💼Bank of England interest rate decision
💼 U.S. ISM Manufacturing PMI for July
8/2 Friday**
💼 U.S. July Unemployment Rate
💼 U.S. non-farm payrolls for July
📌 Crypto Market Outlook:
This week is very full of macro events, but market expectations are more consistent, so the IVs for all major terms are nowhere near the levels seen during last week's Bitcoin conference. The crypto market has formed a wide oscillatory trend since March, BTC has approached its all-time high, while ETH is more sluggish, the exchange rate has fallen sharply, ETH IV of all major terms is only slightly higher than BTC. Timing to choose the right IV, the traders can buy short-term options, especially short-term BTC call options are particularly cost-effective.
📌 crypto interest rate market, Bitfinex interest rate market is relatively quiet, occasionally good interest rate orders, encounter the right interest rate orders can be actively traded.
ETH/USD Elliott Wave AnalysisEther ETH/USD Elliott Wave Analysis
Minor Wave 3 of Intermediate Wave (5)
TradingLevels Support Major level TL3|3,000
Ethereum Is Poised For More GainsEthereum with ticker ETHUSD is nicely waking up after recent higher degree A-B-C correction in wave (4) that can be bottoming at 2700-2850 area as price recovered sharply in the last two weeks that can be first wave 1 of a higher degree wave (5). Notice that there was also a broken channel resistance and five waves up from the lows up to 3565, followed by a sharp drop which can belong to wave 2 correction. So, more gains can be seen now after a Trump's speech at Bitcoin conference in Nashville. There were a lot of positive comments from Trump that can send the price at least up to 3800 area, but we believe it can be trading in wave 3, especially if ETH breaks above channel resistance line near 3800 level. At this stage, alternatively just be aware of more complex wave 2 that can retest 3000 support level.
Ethereum (ETH) at a Major Inflection Point Amid ETF ApprovalVolatile Market Action:
The crypto market's volatile price action continued last week, with much of the previous week’s gains being retraced.
Focus on Ethereum:
This week, Ethereum CRYPTOCAP:ETH is at a major inflection point given the approval of ETFs by the SEC.
Trend-Following Concerns:
From a pure trend-following standpoint, a potential lower-high was completed last week. Following the low from July 5, which exceeded the low from May, this could indicate a short-term downtrend for Ethereum.
Key Support Levels:
Support: $2,900-$3,100
Ethereum is still given the benefit of the doubt as long as prices hold above this support range.
If this support holds, Ethereum could be considered in a broader consolidation within the broadening wedge formation.
Maintaining this support is crucial to avoid further downside.
Key Resistance Levels:
Resistance: $3,400-$3,600
For Ethereum to look bullish again, it needs to clear this resistance range.
Breaking through this resistance would negate the bearish scenario and potentially set the stage for a bullish run, bolstered by the positive sentiment from the ETF approval.
Stay informed and monitor these key levels as Ethereum navigates this critical period! ⚠️📈
#Ethereum #ETH #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #Trading #SupportAndResistance #ETFApproval #Bullish #Bearish #Volatility
