gm,
as promised in yesterdays post, i'd share my macro ethereum case if my post got 5 likes.
---
lets start with the basics,
going back to 2015, ethereum came up in a 1-2 1-2
ever since those times, the impulse has been unraveling very nicely.
i postulate that the 2021 peak was the wave (3) high,
and ever since then, ethereum has been consolidating in a wave (4) - contracting triangle.
some might call it a re-accumulation, but i personally view it as a distribution.
old hands, distributing to new hands,
new hands end up holding price up,
and even create another leg up, but it gets faded.
in wyckoff distribution terms, this final leg up is referred to as "utad test".
in elliott wave theory terms, the final fifth wave out of a triangle is a "thrust".
both are, by design, quick and usually artificially created to create a final exit liquidity event.
---
it's tough to say how high we will go,
but based on our research, generally speaking -
if w3 sees an extension, w5 usually sees a truncation (slightly higher high, or even a double top).
based on this information, i level with you and say, ethereum finishes its macro bull count through an ending diagonal, around 10k. this allows momentum to taper off, and distribution phase to complete with a proper up-thrust-after-distribution.
---
🎯 = 10-12k
as promised in yesterdays post, i'd share my macro ethereum case if my post got 5 likes.
---
lets start with the basics,
going back to 2015, ethereum came up in a 1-2 1-2
ever since those times, the impulse has been unraveling very nicely.
i postulate that the 2021 peak was the wave (3) high,
and ever since then, ethereum has been consolidating in a wave (4) - contracting triangle.
some might call it a re-accumulation, but i personally view it as a distribution.
old hands, distributing to new hands,
new hands end up holding price up,
and even create another leg up, but it gets faded.
in wyckoff distribution terms, this final leg up is referred to as "utad test".
in elliott wave theory terms, the final fifth wave out of a triangle is a "thrust".
both are, by design, quick and usually artificially created to create a final exit liquidity event.
---
it's tough to say how high we will go,
but based on our research, generally speaking -
if w3 sees an extension, w5 usually sees a truncation (slightly higher high, or even a double top).
based on this information, i level with you and say, ethereum finishes its macro bull count through an ending diagonal, around 10k. this allows momentum to taper off, and distribution phase to complete with a proper up-thrust-after-distribution.
---
🎯 = 10-12k
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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.