ETH, ETH. What are your plans?

Almost every time when we are calling for trend change (be it a top or a bottom), it’s a special feeling. The emotions among the traders are getting more and more extreme. The author feels it is trying to help them to navigate through this special time.

There is one very important point to mention, however.

Please, don’t use the reports here for aggressively shorting the market. The reason is following. The author believes the ETH is in a long-term bull market. We publish this chart from time to time (for instance here), now take a look at it once again:ETHBTCVeryLong

So, yes, we will most probably see 0.03 then 0.04 and 0.05 and so on.

Will it happen right now? Unlikely. Why? Simply because we still see the current Elliott Waves structure either to be completed or almost so.

But we also mentioned on these pages before. The ETH (and BTC too) are behaving often like commodities, not like currencies. It means they often have extended 5-th waves (check again the chart above). So, don’t get you caught on this extended move. If you are short, will be quite unpleasant. And can be expensive too.

Now, back to Elliott Waves.

Are the 5 waves we are tracking since some time still our prefered count? Yes. However. After the last days action we are considering to change the structure quite dramatically. Have a look here:ETHBTC-MidTerm

The whole structure looks much better now.. We divided it into separate 3 waves moves (“a-b-c”). See how nicely the wave “c” is in every case extends the wave “a” with Fibonacci 2.618? This is kind of perfection one always has to look for when dealing with Elliott Waves. As a side-note, we do have truncation and failures but even they represent the perfection, the perfection in sentiment which gets skewed to one side extremely.

Now, one can ask: “wait a second, if we have three pairs of ‘a-b-c’ isn’t it a simple correction?”. And the author will reply: “Yes, possible. But not probable at the moment”. The reason is that the shape of the leading wedge at the moment is almost perfect, with even thrust over the upper line in the final leg. And the Elliott Waves is everything about the perfection, right?

If this is what ETH is prepared for us, expect the top to be formed around the current level and then first sharp decline to around 0.02460 with the consequent drop to around 0.019.

We will see how the reality will manifest itself.

As we are in a very important point of market development, expect again the next update in no longer then 24 hours.

Take care. Waiting for the sun to show up again on the german sky =)

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

7 thoughts on “ETH, ETH. What are your plans?”

  1. I’m almost sure – if I’ll buy now Ether, the price will drop just as you have predicted. It already happened several times πŸ™‚

    Like

  2. actually i’m thinking we just saw the end of a third wave at .0276, entering brief correction to ~.0265 before hitting .03.

    i’d appreciate another update since a lot has changed πŸ™‚

    Like

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