Tuesday update - Important change!
Dear subscribers…
The past week has been difficult for me and my team, the massive pump invalidated our primary bearish scenario and because of this I want to present you our updated bullish count. I have said it many times in the past weeks, bitcoin and ethereum will establish a bullish reversal if they would breach the marked green resistance lines listed above.
On the chart above you can see our bullish scenario for Ethereum, which counts the high from the 14th of August as wave 1 and the low from the 22th of November as wave 2. We estimate that Ethereum might still move in its yellow wave (iii) or it might be already in the corrective wave (iv). As many of you hope, we expect the market to advance higher in the upcoming days. After a complete 5-wave setup Ethereum should lose bullish momentum, and we expect the price to move to the downside until we reach the blue fibonnaci retracement zone. If Ethereum manages to regain enough momentum there, we can expect that a very impulsive wave (iii) of wave (3) will start.
We will continue to build up long positions in the blue fibonacci zone!
Please notice that we are already invested in Ethereum since the 15th of June, back then we announced our first positions here on tradingview.
Read the full statement here:
There is a slight chance that we Ethereum could still expand further to the downside, the chart of our bearish scenario can be seen below. I wrote about this massive triangle before, it still gives me reason to be concerned about the whole movement of the past days.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGERM Target: +8’000$
The past week has been difficult for me and my team, the massive pump invalidated our primary bearish scenario and because of this I want to present you our updated bullish count. I have said it many times in the past weeks, bitcoin and ethereum will establish a bullish reversal if they would breach the marked green resistance lines listed above.
On the chart above you can see our bullish scenario for Ethereum, which counts the high from the 14th of August as wave 1 and the low from the 22th of November as wave 2. We estimate that Ethereum might still move in its yellow wave (iii) or it might be already in the corrective wave (iv). As many of you hope, we expect the market to advance higher in the upcoming days. After a complete 5-wave setup Ethereum should lose bullish momentum, and we expect the price to move to the downside until we reach the blue fibonnaci retracement zone. If Ethereum manages to regain enough momentum there, we can expect that a very impulsive wave (iii) of wave (3) will start.
We will continue to build up long positions in the blue fibonacci zone!
Please notice that we are already invested in Ethereum since the 15th of June, back then we announced our first positions here on tradingview.
Read the full statement here:
There is a slight chance that we Ethereum could still expand further to the downside, the chart of our bearish scenario can be seen below. I wrote about this massive triangle before, it still gives me reason to be concerned about the whole movement of the past days.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGERM Target: +8’000$
Note
PLEASE take the time to read about our bearish alternative and keep our chart in mind! Especially in these times, FOMO can be very dangerous!
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.