🔔Everything You need to Know about Ethereum ETF🔔🌐Today seems to be the time to decide about the Ethereum ETF. (⚠️ The cryptocurrency market may get excited when the result is announced, so be careful with your positions⚠️ ).
🔔Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.
When the Bitcoin ETF was approved , Bitcoin corrected about ➖20% and this correction lasted about 12 days . This happened seemed to express the proverb, " Buy the Rumor, Sell the News ".👇
💡So there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin .
📊Now let's check the Ethereum chart .
🏃♂️Ethereum has managed to break the 🔴 Heavy Resistance zone 🔴 (now the 🟢 Heavy Support zone($3,580-$2,930) 🟢) of Ethereum with the help of the Classic Falling Wedge Pattern . It is currently moving near the 🔴Resistance zone($4,380-$3,950)🔴.
🌊According to the Elliott wave theory , Ethereum seems completed the microwave 3 of main wave 3 . Ethereum seems to be completing microwave 4 of the main wave 3 right now.
📈Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market .
📈 ETHBTC seems to be trying to break the important Resistance line and Resistance zone , and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason .
📈But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines .👇
🔔According to the above explanations , it seems that if you want to add Ethereum and other Altcoins that are on the Ethereum network to your portfolio , it is better to wait for Ethereum to reach the 🟢 Heavy Support zone($3,580-$2,930) 🟢, if ETHBTC also corrects at the same time, it will be a more suitable situation.
🔔If you want to open a position on Ethereum, it is better to have a short position , because if Ethereum ETF is approved , the same scenario as Bitcoin may happen to it, and if it is not approved , the possibility of a fall is very very high , so the risk of a short position may be less now. What is your idea❗️❓
❗️⚠️Note⚠️❗️: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the 🟢 Heavy Support zone($3,580-$2,930) 🟢, and this shock will also affect Bitcoin and other Tokens.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.