The sharp decline in BTC price this week is a strong signal for reversal. Now I expect a rebound that will retrace this down move with a target $660-680 range and then the best is to be prepared for a new slide to the area of green supports $465-500.
After the break out of the yellow resistances the price is staying above that level transforming it to support. This price action makes me trust the bulls for the next move. The shown scenario is unfolding like wave 5 (pink) with a target between the two red resistances. To be done wave 5 (pink) needs waves 4 and 5 (green) of 3 (blue) and than a longer correction...
When we analyze the markets we deal with uncertainty. At any moment we have several potential scenarios. To make the forecast easier to understand we choose one of them as preferential and keep in mind that if important supports and resistances are broken we have to adopt the alternatives and accept one of them as a new preferential. This is exactly the case with...
The bulls made a good job for Ether investors, but their romance might be close to his end. Even though the short term traders can profit from a last push that can go above the top at 0.037. If the shown scenario is the correct one we need to see an up reversal and resumption of the bull trend. Any further sell off below 0.026 will decrease the chanses of the...
As a technical analyst I am used to take into account only the waves and the price action but the picture around the price of Ether start to look like hype and I will give some more details confirming that in the coming weeks a biger correction will be needed. Indeed for the short term I am an ultimate bull but for the medium term my bias is quite bearish. For the...
The best bullish scenario looks like this:The price stays close to the yellow resistance at 0.0235 and today or tomorrow the rally resumes with a skyrocketing move. If this bullish scenario is the correct one, wave 1 (read) is formed and we expect wave 3 (read) of 3 (green). Wave 3 of 3 is usualy the strongest and the sharpest. A shallow correction for wave 2...
The bullish scenario seems to be on track. To keep our trust for it we need to see two main supports to hold the price above them. If the bulls are preparing to accelerate then the price will not go below 0.01978 and today or tomorrow the price can explode above 0.023476. If Ether needs a bigger correction then we will see several more days shallow correction with...
Five waves up and three down is a strong confirmation for the bullish scenario. The zig zag correction might be over but it is good to bear in mind that the price can retrace to the area of the blue elipse before the resumption of the bullish trend. 0.5 and 0.618 fibo levels are used to give a better support for the end of wave 2. If ETH/BTC choose this scenario...
The best confirmation for the bullish scenario will look the way shown on the chart. The broken neckline of the Head and Shoulders is making the target at 0.02 very likely. If only a shalow range follows as wave 4 (green) and then a new top for wave 5 (green) is formed this will be the best evidence for the preparing bullish trend.
The bulls are making some steps to regain trust. The most important resistance for the short therm is 0.018. If the price of Ethercoin breaks above this level and manage to stay there transforming it to support it will be a sign for the end of the bearish move. If the ziz zag corrective pattern for wave 4 (blue) is over we can expect a rise above 0.037. That means...
The most likely scenario is bullish for Ethercoin. The price action and the waves favor the support at 0.001860 as a very important one. As the price is above that level I will expect a test at 0.02950 and then at 00.3670. If those resistances hold we will have to axept a ranging scenario for several months. A break out above 0.03670 will signal resumption of a...
Ethere needs to shake out more investors before an up reversal. Yesterday candle closed below the previous low of sunday candle. This is a signal that the decline may resume. A reversal can start any day of this week but in my opinion before this happens Ether coin needs to test the blue trend line which is the parallel of the green line between waves 1 and 3...
I expect two likely scenario and bothe of them will lead Ether above 12.50$. One of them is bullish and we will see a strong break out above 15.20$ and the other is a range between 8.07 and 15.20 that will stay for weeks. Only a break down below 8.07 will neglect both scenarios.
The picture shows clear five waves in two degree of trend. For that reason I partially sold out 2/3 of my BTC exposition. The pink elipse envelopes five waves down and abc up followed by the the yellow elipse where we see a smaller fegree five waves down. Right now the price is making an up correction that can unfold several hours. This set up used to bring...
The correction started on Feb. 21 seems to be over. The bottom formed on Mar. 5 at 394 is main support now. I waited to see what kind of pattern BTC will drow. The picture again favor the bulls. We have 5 waves up. According to Elliott wave rules wave 4 must not overlap wave 1. As per BTC-e chart the overlap contradict this rule. But according to the Chinese...
After the strong rally ethercoin is ready to take a rest. The price has some potential to achieve one more rise to 0.017-0.018 before starting a longer correction for several months. I consider such move as wave 5 (green) of 5 (pink) of 3 (blue). My plan for the next two or three days is to sell 1/2 or 2/3 of my investment in ether depending on the pattern. Some...
The resistance at 427 is now support. Untill it holds I expect higher prices for wave 5. Next resistances are at 439 and 445 levels. Depending on the development around these resistances I will asses the posibility for much higher prices. If correct that wave 5 is unfolding it's difficult to forecast his size. It is used to be smaller then the third wave which is...