Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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The Price of Ethereum increase a lot due DEFI most likely.
I think more price appreciation to come.
Remember:
"Money is earned by patience"
Focused on Quality of Trade than Quantity of Trades
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Ethereum’s 1 Year Elliot Wave Counts in Weekly Timeframe
Detailed
Simplified
Ethereum’s price action is extremely bullish. Every weekly closed it makes a green candle most of the time. I think Ethereum more bullish than Bitcoin. From March 2020 Market Crash until Today, it made a 32x gains. Potentially, it can make 220x gains (if everything goes well).
Wave 1 starts on October 2015 and ends June 2016. Wave 2 starts June 2016 and ends December 2016 after US Election on November 2016. Wave 3 starts on December 2016 and ends January 2018. Wave 4 starts January 2018 and ends December 2018. Wave 5 starts December 2018 and potentially to end on January 24, 2022. The US Election had just happened on November 2020. As you see based on historical chart: (1) Wave 1 is the shortest impulse wave; (2) Wave 3 is longer than Wave 1; and (3) Potentially Wave 5 is the longest wave of those impulse waves. Wave 5 is a very extended impulse wave. For corrective waves: (1) Wave 2 is the shortest correction; (2) Wave 4 is the largest correction. The extent of each wave: (1) Wave 1 is 8 months; (2) Wave 2 is 6 months; (3) Wave 3 is 13 months; (4) Wave 4 is 10 months; (5) Potentially Wave 5 is about 38 months (up to January 2022). Therefore, Wave 5 is potentially extended wave.
I think whales accumulated a lot of Ethereum from 4th Quarter of 2018 up to 1st Quarter of 2020 and may potentially sell it at $ 19,138.05 or the 1.000 Fibonacci on January 24, 2022.
Only time tells for sure.
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Technical Analysis
1M
Looks like a price that goes on a straight line. What I mean very bullish.
1W
Consistently above EMA 9 in Weekly timeframe for the past 41 weeks. RSI hold above 70 level for the past 25 weeks. MACD shows consistent buying pressure. Stoch RSI is above 50 level. Simply Bullish.
1D
Resistance is at $ 3,617.95 while Support is at $ 3,211.00. No Weakness of the trend.
4HR
Bearish Divergence. Most likely pullback to Moving Averages in Daily Timeframe.
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Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
__________________
Update for Bitcoin
Potentially to reach 400K by November 2021 or December 2021
Previous TA on BTC:
Other Coins
ETCUSD:
ADAUSD:
___________________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
________________
The Price of Ethereum increase a lot due DEFI most likely.
I think more price appreciation to come.
Remember:
"Money is earned by patience"
Focused on Quality of Trade than Quantity of Trades
________________
Ethereum’s 1 Year Elliot Wave Counts in Weekly Timeframe
Detailed
Ethereum’s price action is extremely bullish. Every weekly closed it makes a green candle most of the time. I think Ethereum more bullish than Bitcoin. From March 2020 Market Crash until Today, it made a 32x gains. Potentially, it can make 220x gains (if everything goes well).
Wave 1 starts on October 2015 and ends June 2016. Wave 2 starts June 2016 and ends December 2016 after US Election on November 2016. Wave 3 starts on December 2016 and ends January 2018. Wave 4 starts January 2018 and ends December 2018. Wave 5 starts December 2018 and potentially to end on January 24, 2022. The US Election had just happened on November 2020. As you see based on historical chart: (1) Wave 1 is the shortest impulse wave; (2) Wave 3 is longer than Wave 1; and (3) Potentially Wave 5 is the longest wave of those impulse waves. Wave 5 is a very extended impulse wave. For corrective waves: (1) Wave 2 is the shortest correction; (2) Wave 4 is the largest correction. The extent of each wave: (1) Wave 1 is 8 months; (2) Wave 2 is 6 months; (3) Wave 3 is 13 months; (4) Wave 4 is 10 months; (5) Potentially Wave 5 is about 38 months (up to January 2022). Therefore, Wave 5 is potentially extended wave.
I think whales accumulated a lot of Ethereum from 4th Quarter of 2018 up to 1st Quarter of 2020 and may potentially sell it at $ 19,138.05 or the 1.000 Fibonacci on January 24, 2022.
Only time tells for sure.
__________________
Technical Analysis
1M
Looks like a price that goes on a straight line. What I mean very bullish.
1W
Consistently above EMA 9 in Weekly timeframe for the past 41 weeks. RSI hold above 70 level for the past 25 weeks. MACD shows consistent buying pressure. Stoch RSI is above 50 level. Simply Bullish.
1D
Resistance is at $ 3,617.95 while Support is at $ 3,211.00. No Weakness of the trend.
4HR
Bearish Divergence. Most likely pullback to Moving Averages in Daily Timeframe.
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
__________________
Update for Bitcoin
Potentially to reach 400K by November 2021 or December 2021
Other Coins
ETCUSD:
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
Comment:
Just in case. Only time tells.