To keep everyone happy i decided to chart both sides
harmonic comes with a bullish pattern with the last bottom tested at 3.8k also a support line from previous low at 3.660on nov 25th.
target would be 6k but that will be with a big IF it has many resistances to go trough .
Bearish outlook: elliot waves shows an ABC wave with as subwaves 5-3-5...
Hello everyone and welcome to yet another idea of mine, if we look at ETH over the past month you would olmost say it is dieying out
But dont get fooled eth is still by far the number 2 in total value aswell as volume & transactions
Now before we start with the analysis you will have to understand the reason why ETH is losing its value so much.
To start of...
as for right now indicators showing a very bullish signal on daily, rsi overbought rsi stoch bottom
However this time its better not to folow these view indicators as sentiment is overruling in favor for the bears.
regardless i think we are in a inverted widening triangle pattern, wich often leads to continuation of the trend, in this case downwards
we found a...
Main target 11.6k, short term target: 9.7k
The 9.7k target is a fibb resistance in combination of a wedge (yellow lines)
i think this is the end of the road for main wave 3 and we will enter a corective wave back to 8.5k
the 8.5k target is supported by a fibb line aswell if target 9.7k is met the 0.38 retracement would fit as a good support based on older tops and...
Hey there, here is some additional information about the bear market
As for now i see signs of a bear market ending, these signs are not what i think but what the market is showing
to kick of lets start witht he daily, what you will see is a drop to 6k erlier this year and the past 2 weeks we made a second bottom in that zone, these double bottom is confirmed by...