Thoughts on ETH - upward channels and downward channelEth seems to be traveling in 2 opposing channels. A narrow upwards channel, and we might be forming a wider downward channel. The channels provide good support (entry) and resistance exit areas. We are currently in the upper half of the downward channel and the longer we stay there, the higher the probability to break out of it.
The yellow arrow shows just one potential scenario that I think has a fairly high probability.
Trade ideas
One More Dump! With A Very Bullish Aftermath! Many Analysis like this have been done so I will save you the long story. On the 4hour chart a bullish upside down head and shoulders can be seen forming. However, with a bearish head and shoulders forming on a one hour chart, the possibly of the price touching the lower support before recovering seams likely.
As always be patient and see how it plays out.
Elliott Wave Ethereum 2.2.2021Notice the divergence on this Daily chart as shown by the red trendlines. This suggests a sharp trend reversal is forthcoming which also supports Elliott count as a C corrective wave is expected in the count following this strong B Wave up. Look for favorable entry points in the $1000 - 1100 range which should allow traders to establish a profitable entry point for the next leg up as this coming C wave plays out over the next few days. Be patient and wait on price decline and the C wave to fully count out before entering a new order at the entry price level as suggested above. Protest gains made in this B wave rally now by setting stops or take profit limit orders. Watch and enter a new position as this coming C wave bottoms in a few days. Good trading.
ETH/USDC 15 Minute Falling WedgeThis falling wedge will terminate and pump approx 40% of the overall height of the wedge then fall to a double bottom bounce slightly higher then the lowest point of the wedge. Then we will uptrend which will consist of three climbs after the double bottom pump. Each climb has a subsequent fall each being slightly more than the last with the 3rd fall being approx 35% of the overall uptrend and then a hard pump. target approx $345-350