Hello friends.
Today we decided to share our understanding of market patterns on ETHUSD and BTCUSD on weekly charts.
ETHUSD.
The cycle of price correction continues in the long term. This can be clearly seen from the zigzag nature of the price movement.
At the moment, the ETH price moving is also in a zigzag, and with a high probability, the model will finish its formation in the range of 380-700.
Why does the price can reach 700? The fact is that during a surge of volatility on the crypto market, price movements occur on a logarithmic scale, especially when operators have insufficient liquidity (the moment of liquidation of large positions).
Our recommendation is to full fix profit for ETH above 360 or in parts upon subsequent growth above 360.
In general, such a medium-term model subsequently leads to large losses for those who crave easy money.
Don't expect easy money - take a profit now.
BTCUSD
A very contradictory model is formed by the price of BTCUSD in the medium term.
Unlike ETHUSD, here we consider the likelihood of two patterns forming: an ascending plane or a triangle.
In a logarithmic scale, the price of BTCUSD can reach 20,000 and above.
As for the triangle, it can be used to trading after the complete pattern has been formed.
For BTCUSD, the triangle model can be either very positive or very negative.
If we look at the dynamics of the ETHUSD price, we can make the assumption that it is the triangle pattern that is most likely to form by the BTCUSD price. And at a locally, the price will not exceed 13,000.
Now is a good time for intraday operations as there is good volatility. As for medium-term operations - very bad period (can expect prices to drop significantly below current levels).
Good luck to all!
Today we decided to share our understanding of market patterns on ETHUSD and BTCUSD on weekly charts.
ETHUSD.
The cycle of price correction continues in the long term. This can be clearly seen from the zigzag nature of the price movement.
At the moment, the ETH price moving is also in a zigzag, and with a high probability, the model will finish its formation in the range of 380-700.
Why does the price can reach 700? The fact is that during a surge of volatility on the crypto market, price movements occur on a logarithmic scale, especially when operators have insufficient liquidity (the moment of liquidation of large positions).
Our recommendation is to full fix profit for ETH above 360 or in parts upon subsequent growth above 360.
In general, such a medium-term model subsequently leads to large losses for those who crave easy money.
Don't expect easy money - take a profit now.
BTCUSD
A very contradictory model is formed by the price of BTCUSD in the medium term.
Unlike ETHUSD, here we consider the likelihood of two patterns forming: an ascending plane or a triangle.
In a logarithmic scale, the price of BTCUSD can reach 20,000 and above.
As for the triangle, it can be used to trading after the complete pattern has been formed.
For BTCUSD, the triangle model can be either very positive or very negative.
If we look at the dynamics of the ETHUSD price, we can make the assumption that it is the triangle pattern that is most likely to form by the BTCUSD price. And at a locally, the price will not exceed 13,000.
Now is a good time for intraday operations as there is good volatility. As for medium-term operations - very bad period (can expect prices to drop significantly below current levels).
Good luck to all!
