📊#ETH double bottom target achieved, be wary of callbacks⚠️📊#ETH double bottom target achieved, be wary of callbacks⚠️
🧠We followed the daily-level double bottom long structure and broke through the short defense point after skyrocketing. This means that the double top short structure was destroyed, which means that this period of correction is over. Combined with the general trend, it is a bull trend, so we have a view on the future trend. It's going to be very optimistic.
➡️Although it is an optimistic attitude, we are currently in the daily-level selling zone. I will not chase the increase under the selling pressure, so we have locked all the profits from the long orders in our own pockets very early.
➡️If we choose to continue rising, then we will use the ETH spot purchased in the daily level buy zone to look forward to more.☕️🙏🎯
👀From a structural point of view, the breakthrough of the short defense point means that it will be sooner or later for us to break through the previous high, so when the price falls back again, it is a good time for us to enter the market again. The first support can be focused on near the inflection point.🔥
Don’t forget risk management💯
✔️Trade safe✔️
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ETHUSDTPERP
📊#ETH can continue to look forward to the goal🎯🧠From a structural point of view, we started to rebound according to the small double bottom structure and successfully broke through the downward trend resistance line, so there is still room for us to continue to rise.
➡️For future expectations, we can refer to the trend of BTC horizontally. The best case scenario is that BTC continues to consolidate horizontally to build a new long-short structure, and ETH continues to rise to achieve the remaining goals.
⚙️Therefore, we subtracted part of the added positions within the phased target area, and then chose to retain part of the position to look forward to the remaining targets. At the same time, congratulations to the friends who followed Wolf King to print money and received a return of 400%+.🎉💰🚀🌔🍻
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"ETH". I should eat this RBI firstNice to meet you, friends. It's called E.s.s, which hits the exact target like an eagle
In the long-term bearish, We found and substituted short-term uptrend line with important angles.
If it breaks down the current short-term uptrend line, ETH will drop to the RSI oversold.
The standard is to BREAK DOWN the short-term uptrend line.
#ETH FORMING FALLING WEDGE PATTERN!On the daily ETH chart, there's a notable pattern emerging, potentially forming a substantial falling wedge. Statistically speaking, a falling wedge tends to signal bullish momentum. About two-thirds of the time, a falling wedge pattern breaks to the upside, while the remaining third breaks to the downside. However, it's important to note that until we observe a confirmed breakout above the significant resistance level currently at around $3450, any price target remains speculative.
Once a breakout above this resistance level is confirmed, it sets up a bullish target at the top of the wedge, approximately at $4060. Additionally, another method to gauge the price target for a fall suggests a potential rise to around $4300. This implies a likelihood of the price returning to above $4000, contingent upon the confirmation of a breakout above $3450.
Nevertheless, it's essential to remain cautious as there could still be resistance encountered along the way, even after the breakout above $3450. Keep in mind that other levels of resistance may pose challenges to the price's upward movement. So, while there's potential for a bullish trajectory, it's prudent to monitor the situation closely for further developments.
#DYOR #NFA CRYPTOCAP:ETH BINANCE:ETHUSDT BITSTAMP:ETHUSD
📊#ETH breaks out of descending triangle📈🧠From a graphical structure point of view, we have formed a descending triangle. The current price has broken through the upper edge of the triangle, which means that we will continue to rise. If we successfully break through the inflection point, then we will have a high probability of sweeping the upper liquidity pool.🚀
➡️If you are not involved in long trades, then you can focus on the buy zones marked on the chart. You can use DCA to participate in spot transactions, which is continuously effective. The ideal target is 4877.☕️🙏🎯
⚠️Don’t forget risk management💯
✔️Trade safe✔️
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Elliott's Wave analysis at Ethereum ETH priceToday's wave analysis based on #ETHUSDT
The only open question, at least for us, is whether the A-B-C correction within the 4th wave has already been completed or not.
↗️ If it has, then buyers should not allow the price of CRYPTOCAP:ETH to fall below $2925 and, accordingly, continue to grow according to the blue scenario.
↘️ If it hasn't ended yet, then market players are still waiting for an impulsive drop in the #ETHUSD price to the $2525 area. After that, the price may recover according to the white scenario.
Which scenario do you prefer, which do you believe in more?
#ETH is holding the price above this 183 days long support!#ETH is currently staying above a support level that has held for 183 days, and the 100-day Simple Moving Average (SMA) is also acting as support.
As long as we remain above this support, things look positive for a potential bounce back up in price.
However, if the price falls below this level, we may see some corrections.
Keep an eye out for further updates.
DYOR, NFA
#Crypto CRYPTOCAP:ETH BINANCE:ETHUSDT BITSTAMP:ETHUSD
📊#ETH key inflection point, structural evolution ideas🧠➡️From a graphical structure point of view, the structure of ETH is very standard.
🧠If we continue to break through the turning point after the pullback, it means that the long structure is established, which means that we will most likely go higher from here.
⚠️Note that if it falls below the previous low, it means that we will continue the downward trend. If this scenario occurs, then when the price reaches the non-contradiction zone 2400-2500, you can buy directly, and both futures and spot can participate.
Trade safe✔️
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📊#ETH has a chance to form a smiley face structure📈🧠What we always look for in the buying zone is the opportunity to go long. From the perspective of graphic structure, we have the opportunity to build a smiling face bullish structure in the buying zone. If this structure is established, then we will most likely break through the turning point. This It means that a larger double bottom long structure is established, which means that we will rise even more.
Let's see
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📊#ETH key turning point⚠️🧠Since the price has entered the buying zone at the weekly and daily levels, there is an expectation of a rebound. But from a structural point of view, we are suppressed by the short structure, so there are some contradictions here.
➡️Therefore, it is best for us to wait until the contradiction is resolved before participating. For example, breaking through the turning point means that the small double bottom long structure is established, and there is a chance to break through the short defense point. If this scenario occurs, it means that the large double top short position The structure is broken, and the subsequent pullback is our opportunity to continue to go long.
➡️If we continue the downward trend and fall below the previous low, then we will continue to buy near the 2400-2500 non-contradictory zone.
➡️Of course, if your position is not heavy, you can also hold some spot positions here.
Because we still hold some ETH spot stocks, we will wait patiently for a better range to appear before adding more positions.
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📊#ETH most noteworthy buy zone💥🧠We have entered the daily and weekly level buy zone, so it makes sense to continue to rebound from here for a while. But since the entire market is in a pessimistic state, maybe we need to enter a deeper adjustment range. 2400-2500 is an area worthy of attention, and I plan to continue buying ETH in this area.
Let's see👀
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📊ETH has a higher probability of rebounding in the support zone📊#ETH has a higher probability of rebounding in the support zone📈
🧠ETH's decline was even greater, but the price once again stopped near the support zone, reacted well when it was touched, and was expected to rebound after sweeping the long liquidity pool. From a graphical perspective, we have the opportunity to form a falling wedge pattern, and generally we will follow this pattern to rise. Even if it continues to fall, there is a high probability that we will rebound first and then fall.
Let's see👀
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📊#ETH has a chance to form a double bottom structure🚀🌕🧠From the perspective of the macro cycle, we have broken the weekly short defensive point, which means that sooner or later we will challenge the historical high, so we remain bullish.
➡️Judging from the current structure, if we successfully break through the inflection point, then a double bottom and long structure will be established, which means that we will most likely use this structure as a supporting power to pump.🚀🌕
Let's see👀
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📊#ETH double bottom structure rises🚀🌕💥We started long ETH after stabilizing above the support zone, locking in more than 80% of the main profit after reaching the short defense point at the weekly level. When the price returned to the support zone again, we increased our position again. At present, 900%+ profits have been obtained. Congratulations to the friends who followed Wolf King to print money.💰🍻🍻
🧠From a structural point of view, we successfully broke through the short defense point resistance line, and the resistance line turned into a support line. A double bottom bullish structure is established and we may continue to move higher based on this structure.🙏🚀🌕
Let's see👀
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📊#ETH weekly level view📈👀We can easily find that the overall trend of the market is upward, so it will be smoother to go long in line with the trend.✔️
➡️The ETH we bought near the 12H buy zone locked in major profits when it broke through the short defense point at the weekly level, because the goals of the double bottom long structure at the weekly level were all achieved. Therefore, I am worried that there will be a major cyclical adjustment that will lead to a profit retracement. In fact, a pullback did occur, and we started buying ETH again after the price pulled back to the support zone.
🧠From a structural point of view, after we break through the short defense point at the weekly level, it means that we will continue to challenge historical highs with a high probability. Maybe we don’t need to enter the daily level adjustment.
➡️Of course, if we enter the daily level adjustment range, we will buy again.✔️
Let's see👀
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📊#ETH bulls’ goals unfulfilled☕️🙏💥In the end, we obtained effective support near the support area, and formed a smiling face bullish structure here. Our long orders under this structure successfully captured 800%+ profits. Congratulations to the friends who followed Wolf King to print money.💰🚀🌕🥳
🧠At present, we have encountered heavy resistance near the short defense point at the weekly level, but it does not have much impact on the larger trend direction, and we still have the opportunity to go higher.📈
Let's see👀
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📊#ETH may build a smiley face structure☕️🧠We finally found good support near the support area and have the opportunity to build a smiley face bullish structure here. If this structure holds, then we will most likely go to around the 3880 level.
Let's see👀
⚠️At the same time, don’t forget about risk management.
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📊#ETH next structural evolution ideas🧠➡️We entered the correction phase after completing the daily and weekly level targets, which is very reasonable. The ETH spot we bought in the 12-hour buying zone also successfully broke through the weekly level short defense point of 3580. Choose to lock in more than 80% of the profits.✔️
🧠The following structural evolution ideas:
➡️If we start to rebound in the support area and form a new long structure, then we can use this structure as a support force to continue rising, and even breaking through the historical highs is possible, because the weekly level short structure is destroyed.
➡️If we continue to fall below the support zone, then the most pessimistic scenario will occur. We will most likely go to the daily level buying zone, which will be regarded as the best buying zone.
Let's see👀
⚠️At the same time, don’t forget about risk management.
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📊#ETH reaches the buying zone✔️🧠The structure of ETH will look clearer. The goals of the double top short structure have been fully achieved, so we stopped the decline in the buy zone, which makes perfect sense.
➡️Waiting patiently and trying are processes that must be experienced in trading. We don't know how the market will go, so we don't need to guess. We just need to look for the long structure in the buying zone and try it.
⚠️Only if we can accept failure calmly can we enjoy profits.💯
⚠️At the same time, don’t forget about risk management.
📊#ETH reaches support zone✔️🧠We ended up going down in a rising wedge pattern, exactly as I expected.✔️
➡️The current reaction after we hit the support area is good, new participation opportunities need to pay attention to the image structure of this area, let us give the market a little more time.
Let's see👀
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📊How will #ETH behave after the upgrade❓🤷♂️Unfortunately yesterday, we failed to successfully break through the resistance zone, so we placed a long order to lock in 50% of the profit near the resistance zone, and then continued to look forward to a breakthrough in a low-risk manner.🙏
🧠From a graphic point of view, a rising wedge is also formed here. Both rising and falling are possible, so it is quite contradictory.
➡️If we are able to successfully break out of the resistance area, a move back into this area would be a good time to buy.
➡️If we follow the rising wedge downwards, then when the price returns to the daily buy zone and around 3580, this is also considered a suitable buy zone.
Let's see👀
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