ETH let's analyze this monster to wake up!
Well first of all, it is worth highlighting our incredible work when it comes to predicting a little. Or speculate. We have hit ETH 2 times in a row. From W possible, From 1900 to 2600 until the fall at 2100.
At ETH we have been right, 2 times in a row. The tests are on the Referral Channel as always.
Now let's see .We have strong resistance at 2610 USDT. Although ETH on April 22 managed to mark a new all-time high and incidentally break 2,500 USDT very easily. In full fall of BTC rose like never before.
If we find out, we recently broke the EMA20 on the decline of BTC from 61k to 55k. In that period ETH broke and went below it. Touching the SMA50 and almost nothing to break it. But a few days ago we managed to get around this, taking ETH above the EMA20 again.
This could mean that there is demand for ETH despite all its scalability issues. Which is really quite positive since you need it.
The sale of ETH continued until it touched 2040 USDT. Which is positive, since it means that we are accumulating a possible balance to enter a large amount in a touch of Support.
The indicators are trying to turn bearish , but remember I told you a long time ago. ETH is a cryptocurrency with too much liquidity, and its wealthy users often take advantage of these falls to inject more money. A bounce to the upside can happen right now touching the EMA20 or if we break out of the channel at the SMA50. Returning to the upside.
Possible Impulse Wave Pattern
¿What is IWP?
What Is an Impulse Wave Pattern?
An impulse wave pattern is a technical trading term that describes a strong move in a financial asset's price coinciding with the main direction of the underlying trend. It is used frequently in discussion of the Elliott Wave theory, a method for analyzing and predicting financial market price movements. Impulse waves can refer to upward movements in uptrends or downward movements in downtrends.
Understanding Impulse Waves
The interesting thing about impulse wave patterns in relation to the Elliott Wave theory is that they are not limited to a certain time period. This allows some waves to last for several hours, several years or even decades. Regardless of the time frame used, impulse waves always run in the same direction as the trend at one-larger degree. These impulse waves are shown in the illustration below as wave 1, wave 3 and wave 5, while collectively waves 1, 2, 3, 4 and 5 form a five-wave impulse at one-larger degree.
Impulse waves consist of five sub-waves that make net movement in the same direction as the trend of the next-largest degree. This pattern is the most common motive wave and the easiest to spot in a market. Like all motive waves, it consists of five sub-waves; three of them are also motive waves, and two are corrective waves. This is labeled as a 5-3-5-3-5 structure, which was shown above. However, it has three rules that define its formation. These rules are unbreakable. If one of these rules is violated, then the structure is not an impulse wave and one would need to re-label the suspected impulse wave. The three rules are: wave two cannot retrace more than 100 percent of wave one ; wave three can never be the shortest of waves one , three and five.
The reality will be seen in the resistance zone of $ 2,500 to $ 2,640.
If the cost downloads again from this degree, the pair could consolidate between $ 2,500 and $ 2,100 over the course of a few days.
However, a dissolution above $ 2,640 could resume the uptrend that can reach $ 2,700 and then $ 3,000. This positive view will be invalidated if the bears sink the price below $ 1,900.
There is a possibility to break out of the bullish channel and retest the SMA50. But I think it is unlikely.
If we invested 100 USDT. We could take into account entry 2300 or 2215. As entries. And a close stop.
The maximum fall in my personal idea is 1900 USDT.
We could make an expected profit of $ 100. Or a loss of $ 15. Going down to 1900.
At ETH we have been right, 2 times in a row. The tests are on the Referral Channel as always.
Now let's see .We have strong resistance at 2610 USDT. Although ETH on April 22 managed to mark a new all-time high and incidentally break 2,500 USDT very easily. In full fall of BTC rose like never before.
If we find out, we recently broke the EMA20 on the decline of BTC from 61k to 55k. In that period ETH broke and went below it. Touching the SMA50 and almost nothing to break it. But a few days ago we managed to get around this, taking ETH above the EMA20 again.
This could mean that there is demand for ETH despite all its scalability issues. Which is really quite positive since you need it.
The sale of ETH continued until it touched 2040 USDT. Which is positive, since it means that we are accumulating a possible balance to enter a large amount in a touch of Support.
The indicators are trying to turn bearish , but remember I told you a long time ago. ETH is a cryptocurrency with too much liquidity, and its wealthy users often take advantage of these falls to inject more money. A bounce to the upside can happen right now touching the EMA20 or if we break out of the channel at the SMA50. Returning to the upside.
Possible Impulse Wave Pattern
¿What is IWP?
What Is an Impulse Wave Pattern?
An impulse wave pattern is a technical trading term that describes a strong move in a financial asset's price coinciding with the main direction of the underlying trend. It is used frequently in discussion of the Elliott Wave theory, a method for analyzing and predicting financial market price movements. Impulse waves can refer to upward movements in uptrends or downward movements in downtrends.
Understanding Impulse Waves
The interesting thing about impulse wave patterns in relation to the Elliott Wave theory is that they are not limited to a certain time period. This allows some waves to last for several hours, several years or even decades. Regardless of the time frame used, impulse waves always run in the same direction as the trend at one-larger degree. These impulse waves are shown in the illustration below as wave 1, wave 3 and wave 5, while collectively waves 1, 2, 3, 4 and 5 form a five-wave impulse at one-larger degree.
Impulse waves consist of five sub-waves that make net movement in the same direction as the trend of the next-largest degree. This pattern is the most common motive wave and the easiest to spot in a market. Like all motive waves, it consists of five sub-waves; three of them are also motive waves, and two are corrective waves. This is labeled as a 5-3-5-3-5 structure, which was shown above. However, it has three rules that define its formation. These rules are unbreakable. If one of these rules is violated, then the structure is not an impulse wave and one would need to re-label the suspected impulse wave. The three rules are: wave two cannot retrace more than 100 percent of wave one ; wave three can never be the shortest of waves one , three and five.
The reality will be seen in the resistance zone of $ 2,500 to $ 2,640.
If the cost downloads again from this degree, the pair could consolidate between $ 2,500 and $ 2,100 over the course of a few days.
However, a dissolution above $ 2,640 could resume the uptrend that can reach $ 2,700 and then $ 3,000. This positive view will be invalidated if the bears sink the price below $ 1,900.
There is a possibility to break out of the bullish channel and retest the SMA50. But I think it is unlikely.
If we invested 100 USDT. We could take into account entry 2300 or 2215. As entries. And a close stop.
The maximum fall in my personal idea is 1900 USDT.
We could make an expected profit of $ 100. Or a loss of $ 15. Going down to 1900.