This chart represents a technical analysis of Bitcoin based on the Elliott Wave Theory. It appears that the analyst has used this pattern to predict future price movements. Let's break it down: 1. Elliott Wave Pattern: Waves (1) to (5) indicate a large upward movement, typically consisting of five main waves. In this chart, each sub-wave (1, 2, 3, 4, 5) is...
Hi This is a technical analysis chart of Ethereum (ETH/USDT) on a 1-month timeframe. Here’s a breakdown of what’s happening in the chart: 1. Triangle Pattern (Yellow Lines) The price is forming a symmetrical triangle, with resistance around $4,000 and support near $1,500-$2,000. A breakout above the upper trendline could signal a bullish move. A breakdown...
This chart appears to be an Ethereum (ETH) price analysis with Elliott Wave Theory applied. It presents two possible scenarios: 1. Bullish Scenario (Green Path): A potential upward move toward ~$3,000. After a pullback, a continuation towards ~$4,000+. 2. Bearish Scenario (Red Path): A rise toward ~$3,000, but failing to break resistance. A sharp decline...