In my last idea I posted about why I believed ETH would see 500-700 levels before reversing. I have re-visited that idea since it was invalidated and now see a reversal nearing. Here is why: Currently, we are in a complex corrective wave (based on Elliott Wave Theory), otherwise known as a WXY correction. A WXY correction is a correction in which there are 3...
Projects ETH to reach a high of ~0.43 BTC around mid 2018, before falling back to ~0.07 BTC around December
I try to keep my charts clean and simple here are my next two predictions for ETH/USD. My previous BTC was accurate. Also FYI I always set my bars lower as common practice. Better safe than sorry. I would expect a little run then some sell of on ETH. In the next 3-5 days I would look for either a drop or to breakout side the range I have.
Possible ETH Long preparing. I also have a Short position which may fail. Checked down to the 15 minute and see clear Elliot structure--although we do have a leading diagonal. So technically we are still putting in the 1st wave if bullish count holds. Waiting for technical confluence on pullback before position and updates.
As you see, ETH is forming a clear bearish pennant. We have to wait and see if it breaks down. Targets still the same (green boxes). Everything will depend on what BTC does. Let's see!
We got the pullback I was hoping for the in the video for the daily pattern to get tighter, and levels more clear. We will now look for a daily higher low to form today, and hourly higher lows and higher highs will mean our daily higher low is likely in. I am still patiently waiting and will play ETH if we get a bull break on the daily as it still shows small...
I think that if Eth hits 630 again, it would be a good entry point to go long. with a possible 88% gain over 2 weeks. Please comment if you've a different view. It's always better to have multiple opinions.
We can see here a classic ZigZag ABC correction on ETH after 5 impulse waves (not shown). However, with wave C stopping short of the ideal target (550-750 with 350 possible in extreme cases!) we are witnessing a small X wave in the form of an expanding triangle before we continue down to our target. X waves are known to connect two correction patterns together...
Here we have ETH/BTC on the daily candle chart. What I attempted to indicate here is the formation of the cup and handle formation. I believe the strong psychological resistance at .1 will cause the price to pull back, forming the "handle" and this could indicate a bullish continuation.
ETH just crossed key resistance and now let's see if it can push through the 61.8% retracement level at 1169 that proved too tough for the first leg up off the lows. If it can, then we should see new highs for ETH.
BUT the correlation still stands and we are not likely to see that break at this point. This means ETH bulls are holding up slightly better than BTC, but will still pullback with it. This means BTC will continue to be our gauge of strength, and right now the bears have the upper hand. Not playing any bounces unless both 5 and 15 min RSI are oversold on BTC. We...
Bulls consolidating at EMA 12 and 26 4 hour resistance overnight. Higher low is set and the bulls are looking for a higher high to follow through with the 4 hour bull MACD cross. If we lose the 15 min higher low pattern this morning we will look to trade sideways for the morning. If we break to a higher high, bulls still have full control and will be looking...
The day after tomorrow or what should I call the last day correction. Its massive, but its not something we did not see before. I’m posting 1H chart ETHUSD, you can see we had the same correction in DEC, when market fell 47%. It bounced back from trendline and in 10 days completely recovered. Now its almost the same story. ETH lost 44% from top, rebounded from...
Still waiting for some more of a dip here to snatch some cheap ETH up.
I am pretty sure we see price moves similar to the ones around christmas. ETH should check the support at around 660 like it did after the big gains in december. Buy at about 660 and wait for new all time high. --- All trades on your own risk.
This is just an idea of a chart formation that I think could be forming. If the market is indeed needing a correction than this chart formation could prove to be a good opportunity to add to your ETH position if it presents itself. On the four hour chart, I've noticed a potential Adam and Eve chart pattern. Others can look at the potential of this pattern here...
The second analysis of ethereum, this time on the eth / tether pair, I believe we may be witnessing the wave B of Elliot waves, reaching values in the range of $ 840 which would be a retraction of 61.8% of wave 5 and then a possible resumption into the $ 1040 band forming the B wave, stay tuned.