Ethereum ended its 5-wave Elliott wave in Nov-Dec 2022, and since then has started an uptrend.
Considering the indicators in lower timeframes, it's the beginning of the 3rd impulse wave (1D) targeting $2300, but that wouldn't be the end of the 3rd wave.
It's also slightly possible the price quickly touches the $1650 level first and bounces back.
Considering the indicators in lower timeframes, it's the beginning of the 3rd impulse wave (1D) targeting $2300, but that wouldn't be the end of the 3rd wave.
It's also slightly possible the price quickly touches the $1650 level first and bounces back.
Trade active:
Correction continued and touched the 1D MA 200 and the uptrend line at $1640.
$1650 is a major resistance line, the price crossed down the lower Bollinger Bands (1D), and RSI and MACD are oversold on 1D and all hourly timeframes. Looks bullish.
$1650 is a major resistance line, the price crossed down the lower Bollinger Bands (1D), and RSI and MACD are oversold on 1D and all hourly timeframes. Looks bullish.
Trade active:
Going as predicted. Reached the $1900 level quite quickly and broke the downtrend that had started in April.
Don't FOMO, wait for the pullbacks and check indicators on lower time frames to signal buying opportunities.
Don't FOMO, wait for the pullbacks and check indicators on lower time frames to signal buying opportunities.
Comment:
Keep in mind guys, we were on a long-term uptrend, and now also at the beginning of a short-term uptrend. I'd suggest avoiding positions against the trend - i.e. short positions.
Trade active:
Temporarily closing my position to be safe. Seeing some weakness in buying pressure on 1h and 4h timeframes. Keeping the trade status active because I'll go long again soon, once there's more certainty.
Trade active:
The 'play safe' approach worked out well. Started buying back the position gradually at around $1900.
Comment:
Still in an uptrend with higher highs and higher lows. But resistance around $2,000 is very strong. We might have the chance to buy back at the $1,800 level.
Comment:
As expected, price decreased. I see bearish H & S formation on 1h and 4h, meaning most likely we will see $1800 soon.
Comment:
Price dropped and touched $1820. Opened a long position at $1825 and will close it at $1900 - a safe bet.
This is besides the ETH I'm holding for the longer term.
This is besides the ETH I'm holding for the longer term.
Comment:
Closed my long position at $1890 (entry price: $1825).
And still holding my spot position (average entry price: $1700).
NFA guys. DYOR.
And still holding my spot position (average entry price: $1700).
NFA guys. DYOR.
Comment:
Took a couple of months, and reached $2300.
I reckon we'll touch higher prices as BTC is preparing for $50k
I reckon we'll touch higher prices as BTC is preparing for $50k