ETHEREUM *HISTORY REPEATS ITSELF?* STRONG ANALYSIS
THE SAME:
Back in May 2017, Ethereum exploded.It went from around $100 to $400 in a month and a half. If you were lucky to be invested in Ethereum at the time, you would have quadrupled your money. That is 300% capital gains
Comparison: December 2017, Ethereum once again exploded. It went from around $400 to $14,000 in about a month and a half. that is a 250% capital gains.
Next...
In both scenarios, the top price was the head of a head and shoulders formations that dropped the price back down.
Next...
Both scenarios reacted to a STRONG support line and formed Eliot impulse waves 1 and 2.
This is where the predictions come into place for today. In the past, Eliot impulse waves 3 and 4 led to Eliot 5 meeting resistance at the previous all-time high. I imagine we will encounter the same situation here.
When the resistance could not be breached, an Eliot Correction pattern that dropped the price back down to the previous STRONG support trend-line.
OK- SO WE'VE TALKED ABOUT WHAT'S THE SAME! WHAT'S DIFFERENT THIS TIME?
The PAST: The initial head and shoulders fall was slower and steeper. This caused a steep slow in the bearish trend and therefore, the resistance line was broken quickly after the STRONG support line was hit.
NOW: We have yet to break through the line of resistance. In the case we don't break the line of resistance, I have marked yellow X's to where things can go seriously wrong. If the yellow support is reached, then we will have formed another head and shoulders. That will push the price down to the green support line. That green support line today is the same STRONG support that we had back in the previous Ethereum explosion. If that is broken, then it's bad news bears for Ethereum. And when those bears show up, the ones that really bring the bad news... Well... You just don't want to see that day.
*This post is for educational purposes*
Back in May 2017, Ethereum exploded.It went from around $100 to $400 in a month and a half. If you were lucky to be invested in Ethereum at the time, you would have quadrupled your money. That is 300% capital gains
Comparison: December 2017, Ethereum once again exploded. It went from around $400 to $14,000 in about a month and a half. that is a 250% capital gains.
Next...
In both scenarios, the top price was the head of a head and shoulders formations that dropped the price back down.
Next...
Both scenarios reacted to a STRONG support line and formed Eliot impulse waves 1 and 2.
This is where the predictions come into place for today. In the past, Eliot impulse waves 3 and 4 led to Eliot 5 meeting resistance at the previous all-time high. I imagine we will encounter the same situation here.
When the resistance could not be breached, an Eliot Correction pattern that dropped the price back down to the previous STRONG support trend-line.
OK- SO WE'VE TALKED ABOUT WHAT'S THE SAME! WHAT'S DIFFERENT THIS TIME?
The PAST: The initial head and shoulders fall was slower and steeper. This caused a steep slow in the bearish trend and therefore, the resistance line was broken quickly after the STRONG support line was hit.
NOW: We have yet to break through the line of resistance. In the case we don't break the line of resistance, I have marked yellow X's to where things can go seriously wrong. If the yellow support is reached, then we will have formed another head and shoulders. That will push the price down to the green support line. That green support line today is the same STRONG support that we had back in the previous Ethereum explosion. If that is broken, then it's bad news bears for Ethereum. And when those bears show up, the ones that really bring the bad news... Well... You just don't want to see that day.
*This post is for educational purposes*
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Comment:
Above is the Past Pattern
Below is Today's Prediction
Below is Today's Prediction
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