Hello,😃🖐 this idea is just for fun 🥳 don't mind me and my strange drawing 😆🕷🕷
IMO, this looks like it could be a classic 🧐🤵head and shoulders playout!! 🕷🕷
ETH-USDT has been performing very well👏👍 during BTC's ⏬ 🐻down trend/bear market.
Immutable-X ❌, came out earlier this month, which means ETH has a lot less tasks✔👌 to perform overall😃.
This would make ETH desirable🤩, due to lower ⏬💲transaction costs in the form of gas🚙🚗.
Immutable-X ❌has the scalability to protect☂🌧 ETH until ETH 2.0 comes out in the near future 🤔🕑🕙💭(we are not sure of an exact date📆📅.)
Ethereum currently runs many liquidity pools💲💱🔷🌊 (holders can earn🤞 various tokens by investing in said pools)
Many Decentralized applications 🌏🖥📳🕹🎮(Dapps) are run🏃♀️ on ETH.
As mentioned, I am clearly bullish 🐮 on ETH, and will be waiting to see if we can get a nice dip🤸♂️🔽, followed by a huge upswing⤴⬆⬆ to make a picture perfect📷🌄 head and shoulders🕷😅😄🤩!
🛑🛑🛑 This is not financial advice 🛑🛑🛑
ETH is EXTREMELY volatile, more-so than BTC, if you are investing large amounts please keep a proper stop loss ✋🛑💲⏬
Any questions 🙋♂️❓, thoughts 🤔💭, like👍, dislike👎, always welcome in comments below🔽
@SwissMail, why thank you!!! Your feedback is much appreciated 🔥💚🙏
md1312
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As often, great analysis ! Thanks @jazerbay !
Do you mind sharing the method you use for this analysis ? My TA is a bit wobbly and I could use a better method. :)
jazerbay
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@md1312, Hello! Thank you for your comment, on this specific chart I used fib retracement/projection, major trend support/resistance lines based off of the fib and price action, and also the fact that (if this plays out,) we have a cute little slightly lopsided head and shoulders on 3-4 H timeframe! I always recommend looking at multiple ideas, and coming up with your own view based on information gathered, before entering any trade. Good luck!! 😃👋
md1312
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@jazerbay, thanks a lot ! I wil dig the Fib retracement/projection method. I'm new here and tying to learn, so far it's challenging but very fun 😁
Henry_Ross
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thank you for everything. Really good analysis. 😁😁😁
Beautiful ART