ETHUSD | Ethereum 1H Analysis - ETHParking most of my ETH into USDC as I'm seeing short term downside of about 50% nominal going into the New Year.. This should close out the Daily timeframe correction, which started in mid-May.. Expecting us to see ATH again and beyond after the sell-off is completed.. Seeing the same thing for BTC so perhaps now is a good time to try out ETH3S and BTC3S.. The minimum play is to park in USDC or USDT to ride out the downside.. USD is set to gain some strength during this time so this will also work out in our favour.
Ether
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ETHUSD Double Bullish Rising WedgeAn Idea for ETHUSD showing comparable structures in the current bull run
The rising wedge normally is considered a bearish one, however in this case, it is bullish . As shown by the first rising wedge
The second one will likely result in a larger rise as it is a bigger structural formation
It can also be seen that the previous peak is acting as a support for the current price
Points in white ovals are very similar.
ETH Arcs Mirroring BTCETH trend has mirrored BTC since July. From July to September the arc was nearly identical. Then from September to November there has been a very similar arc for BTC, while ETH has been staircasing up. ETH has now corrected back to the macro trend, and could be a good buy opportunity here, but I think this cycle has a few more days in the broader crypto market.
Ethereum Pulls BackEthereum Pulls Back After Unsuccessful Attempt To Settle Above The 20 EMA
Crypto Markets Are Under Pressure At The Start Of The Week
Ethereum failed to settle above the 20 EMA at $4,300 and declined towards the support at $4,100 while Bitcoin moved back below the 50 EMA at $59,000.
Ethereum is currently trying to settle back below the support level at $4,200. If Ethereum manages to settle below this level, it will head towards the next support level at $4,100.
ETH Will see major recovery this coming period. Watch and Trade safe guys.
ETHBTC Detailed AnalysisOn this chart I have used Fibonacci Circles and the Gann fan tool to create trends and alignments that only are seen when using these tools
The key takeaway from this in short, is the trend alignment along the bear circle and the bull circle, placing the current bull formation directly above it
Also, using prior dates regarding bear run beginnings and bullruns we can hypothesise the end of the current run
Which I place around mid 2022
Obviously I believe ETHBTC will not just hit, but smash the ATH with force before this time
BTC and ETH - Blow off Top AssumptionsUsing the many cycles of the BLX ticker, and observing the many blow off tops, a top in which growth ends dramatically, assumptions can be made about the next top.
Using this on BLX we can apply this to ETHUSD also, as typically ETH will follow BTC
The ABC and green oval I am suggesting a subtle comparison between early ETH and early BTC , each containing three levels (a,b,c)
ETHUSD Has been rejected here beforeAs price has approached this fib line
A comparison can be made with prior bullrun showing 3 rejection points, with the third rejection being the one where price breaks through and hits its prior ATH
This can be seen to be happening again and we are on the third rejection so ETHUSD is saying it will recover and pump to its ATH for this cycle
Looking for ATH at around ~8K