🔥Ethereum is on Ascending Triangle(Bear Market) 🔥(Road map)🧐
Updated
Today, I decided to publish a Road map for Ethereum.
First, I have to say again sorry (This post is like with post that I published ''🔥 Bitcoin is on Contracting Triangle 🔥 (Road map)🧐'') for the busy chart (ETHUSDT), but my chart needed these lines. Please spend a few minutes on it.🙏
Location: ETH is on Main wave 4 (Zig zag 5-3-5) for about 25 days (From 4372$ until LIVE price) and I think that Main wave 4 will take more time from us (maybe more than one month, just a prediction).
My idea: ETH was able to pass the Microwave A (It had 5 microwave)of the Main wave 4 at 1866$. Now, ETH is running on Ascending Triangle (Bear Market shape). I was able to find the 3 main points of the triangle A-B-C (Ascending Triangle).
For finding Point D, we have to concentrate on Descending Triangle for Bull Market OR Barrier Triangle. (In the following, I will explain the reason for the word ''OR'').
I think that Point D can be around 2552$ == Near the Lower line of our Triangles.
I have three Scenario :
Scenario 1: when the price arrives to Point D, it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave B of the Main wave 4 was at Point C + microwave C of the Main wave 4 has started === Triangle that I spoke about it for finding Point D will be Barrier Triangle.
Scenario 2: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us (It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes DOWN at Point E, we can say that microwave C of Main wave 4 has started ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Scenario 3: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us(It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes UP at Point E, we can say that BTC will go UP by 5 new impulsive waves ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Also, I have to say that Microwave C can not go down less than 1406$ == Elliott's rules will be violated (Wave 4 and Wave 1 can not have overlap).
Resistance zones on Ethereum's way:
Resistance zone 1: 2900$ until 2935$ (The upper line of Ascending Triangle + Monthly Pivot Point) == Heavy Resistance
Resistance zone 2 : 2814$ until 2837$ (38.2% Fibonacci microwave A of Main wave 4 + Weekly R1+ 88.6% Fibonacci (Point A) until (PointB) ) == Light Resistance
Support zones on Ethereum's way:
Support zone 1 : 2264$ until 2180$ (88.6% Fibonacci (Point B) until (PointC)+ 61.8% Fibonacci (Point A) until (PointB) + support (major pivot)) == Medium Support
Support zone 2 : 1900$ until 1865$ (support (major pivots)) == Heavy Support
My Suggestion: please DO NOT buy Coins for Midterm and Long-term investment until the market finds a way.
Do not forget to put Stop loss for your positions (For every position you want to open)
Please follow your strategy, this is just my idea, and I will be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
First, I have to say again sorry (This post is like with post that I published ''🔥 Bitcoin is on Contracting Triangle 🔥 (Road map)🧐'') for the busy chart (ETHUSDT), but my chart needed these lines. Please spend a few minutes on it.🙏
Location: ETH is on Main wave 4 (Zig zag 5-3-5) for about 25 days (From 4372$ until LIVE price) and I think that Main wave 4 will take more time from us (maybe more than one month, just a prediction).
My idea: ETH was able to pass the Microwave A (It had 5 microwave)of the Main wave 4 at 1866$. Now, ETH is running on Ascending Triangle (Bear Market shape). I was able to find the 3 main points of the triangle A-B-C (Ascending Triangle).
For finding Point D, we have to concentrate on Descending Triangle for Bull Market OR Barrier Triangle. (In the following, I will explain the reason for the word ''OR'').
I think that Point D can be around 2552$ == Near the Lower line of our Triangles.
I have three Scenario :
Scenario 1: when the price arrives to Point D, it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave B of the Main wave 4 was at Point C + microwave C of the Main wave 4 has started === Triangle that I spoke about it for finding Point D will be Barrier Triangle.
Scenario 2: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us (It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes DOWN at Point E, we can say that microwave C of Main wave 4 has started ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Scenario 3: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us(It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes UP at Point E, we can say that BTC will go UP by 5 new impulsive waves ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Also, I have to say that Microwave C can not go down less than 1406$ == Elliott's rules will be violated (Wave 4 and Wave 1 can not have overlap).
Resistance zones on Ethereum's way:
Resistance zone 1: 2900$ until 2935$ (The upper line of Ascending Triangle + Monthly Pivot Point) == Heavy Resistance
Resistance zone 2 : 2814$ until 2837$ (38.2% Fibonacci microwave A of Main wave 4 + Weekly R1+ 88.6% Fibonacci (Point A) until (PointB) ) == Light Resistance
Support zones on Ethereum's way:
Support zone 1 : 2264$ until 2180$ (88.6% Fibonacci (Point B) until (PointC)+ 61.8% Fibonacci (Point A) until (PointB) + support (major pivot)) == Medium Support
Support zone 2 : 1900$ until 1865$ (support (major pivots)) == Heavy Support
My Suggestion: please DO NOT buy Coins for Midterm and Long-term investment until the market finds a way.
Do not forget to put Stop loss for your positions (For every position you want to open)
Please follow your strategy, this is just my idea, and I will be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
Note
The location of Point D has changed, the price broke our falling wedge and we have to wait for point E.
Note
Scenario 1 will not happen.Note
Scenario 2 happened 👍.
Note
The pullback to Falling Wedge.
Note
Ethereum is running well on the way of Scenario 2 👍
Note
Bearish Bat Pattern🦇 + Weekly Bat Pattern 🔥
Note
Bearish Bat Pattern🦇 worked👍
Note
🔥Still, we are on Scenario 2.🔥
Note
New Update with New Post.
👑Real & Accurcy Free & VIP Signals👉 t.me/ProTrader_365
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
Related publications
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.