Hello everyone and welcome to my new ETH idea. The nowdays situation on the crypto market it is not the best. There are too many traders who have failed in the attempt to forecast the price of the cryptos.
This because we are in a phase where there is too much uncertainty on cryptos and so istitutional investor keep away from them.
This is the foundamnetal POV.
From a technical POV, this is because we are in a correction of the preceding impulse and a correction is often hard to recognize, but i want to try to do it .
For this reason, i will give you essentially three possible scenarios.
FIRST SCENARIO: B wave of a ZigZag pattern.
As you can see in the figure, there is the first motive (A) wave that compone the zig zag pattern. This is labeled as an impulse with white numbers. Than , as in all zigzags, we have a correction of the correction and that is the wave B.
In this case, i see a triangle as a B wave. As you know, a triangle ALWAYS appear in the wave that precede the last actionary wave and that's the case.
In a triangle often waves are 0.618 related. So let's see this in the figure below:
If this is the case, we need to wait the E wave and then we will have a strong bear market.
SECOND SCENARIO: WXY pattern
In this scenario we have a different but similar situation of the first scenario. The setting change but the conclusion is the same.
From the first scenario i don't like the structure of the first motive impulse and i think that it is better fitted with the zig zag pattern, but in this scenario the wave A seems to be too low respect to the C wave.
But... the conclusion is the same so this is not a problem.
THIRD SCENARIO: THE STRANGE MOTIVE PATTERN.
This is a really strange shape for an impulse, but that in the wave 4 seems to be a triangle. So i take it in consideration.
If this is true, we are living a flat and we can expect a normal or extended C wave.... A mini Bull market so .
A ZOOM IN THE TRIANGLE OF THE FIRST TWO SCENARIOS
But can be also...
CONCLUSION
So... i think that we will see a rise of price until almost 2200 or 2700. We will see in the next weeks.
Thank you!
This because we are in a phase where there is too much uncertainty on cryptos and so istitutional investor keep away from them.
This is the foundamnetal POV.
From a technical POV, this is because we are in a correction of the preceding impulse and a correction is often hard to recognize, but i want to try to do it .
For this reason, i will give you essentially three possible scenarios.
FIRST SCENARIO: B wave of a ZigZag pattern.
As you can see in the figure, there is the first motive (A) wave that compone the zig zag pattern. This is labeled as an impulse with white numbers. Than , as in all zigzags, we have a correction of the correction and that is the wave B.
In this case, i see a triangle as a B wave. As you know, a triangle ALWAYS appear in the wave that precede the last actionary wave and that's the case.
In a triangle often waves are 0.618 related. So let's see this in the figure below:
If this is the case, we need to wait the E wave and then we will have a strong bear market.
SECOND SCENARIO: WXY pattern
In this scenario we have a different but similar situation of the first scenario. The setting change but the conclusion is the same.
From the first scenario i don't like the structure of the first motive impulse and i think that it is better fitted with the zig zag pattern, but in this scenario the wave A seems to be too low respect to the C wave.
But... the conclusion is the same so this is not a problem.
THIRD SCENARIO: THE STRANGE MOTIVE PATTERN.
This is a really strange shape for an impulse, but that in the wave 4 seems to be a triangle. So i take it in consideration.
If this is true, we are living a flat and we can expect a normal or extended C wave.... A mini Bull market so .
A ZOOM IN THE TRIANGLE OF THE FIRST TWO SCENARIOS
But can be also...
CONCLUSION
So... i think that we will see a rise of price until almost 2200 or 2700. We will see in the next weeks.
Thank you!
Trade active:
As you can see in the chart, a maybe motive pattern is on the way. Maybe is the C wave of the flat that i have forecasted in this idea.
My target is around 2300.
As you can see in the chart, a maybe motive pattern is on the way. Maybe is the C wave of the flat that i have forecasted in this idea.
My target is around 2300.