Firstly, the hard fork Ethereum occurred successfully, now there are only 105,047,016 ETH, this figure will not change. It's a good news. But I want to talk about technical analysis. in December 2018 Ethereum was at the bottom of $ 82, after which smooth growth began. we made x2 and found resistance $ 168. and after that they went to 100 and then they rested against 168$ and from there they fell from a big red candle. We are now moving in a large triangle and after t we touched and did not break through the resistance line we go to the support line. (yellow square) ETHUSD already break out black trend line. I have one question. We will test the trend line that we have broken or we will go straight to the support. Your opinion I waiting in the comments.
Leading with a false statement...."Firstly, the hard fork Ethereum occurred successfully, now there are only 105,047,016 ETH, this figure will not change." ....What? Lol.
joesnuffy
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@rodev, Yeah came here to note this. If the monetary policy can be changed by a group of devs, how can you say what it will or won't be later?
rodev
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@joesnuffy, Fortunately he was incorrect in that there was no hard cap put in place and coins will continue to be mined. Devs could make proposals on changes to this in the future but it would need to be approved via network consensus. Devs cannot dictate monetary policy alone, only put forth proposals.
joesnuffy
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@rodev, Sure I suppose proposal may be a better word. It's contrast to BTC where it's pretty clear there will never be consensus on changing the supply. Just like putting in a difficulty bomb and removing it over and over, nothing is set in stone. I'm a huge fan of ETH. Never say never with it though.
I agree with the triangle idea being a possibility, however I think the first point you marked is not a valid A of ABCDE. Therefore in order to complete the barrier triangle, an upward bounce from the ascending line is necessary, even if Wave E undershoots the top of it (as you have correctly drawn in the white ellipse). Leaving out E completely would invalidate the triangle idea in my view.
I'm however seeing a 5th wave up of the lower degree above the current top as a possibility, too (within either a bigger abc correction OR within a higher degree wave 3 of an impulse). Anyway, the next move will be critical in defining the way forward.