The wave of surprises is coming

The author spent the last few days studying the charts of ETH for the last months.

Why suddenly?

Firstly, the price action lately is lackluster to say the least.

Secondly, the author is in crypto investment only since the March this year. So it is a good idea to study what happened before. The price patterns tend to repeat themselves on different time scales.

So if one wants to see the future, it makes sense to check carefully the past. Oh, by the way, in yoga we have a widely known and often wrongly used term “Karma”. Wrongly used, because it is often said “you have good (or bad) karma now!”. Where in the reality the word “Karma” means just “Action” and the results of our actions (which we subjectively perceive as “positive” or “negative”) isn’t “Karma”, it’s, as said above, just the consequences of our actions.

So, if one wants to be able to make good investment decisions, it is not coming by itself. Not does it always help just by listening to others (cause they do mistakes too). It is by making some “positive” effort. At least to study the charts carefully and thoroughly.

Holy Nakamoto, this post is getting somehow long. Let us keep it short. The results of this study will be published shortly.

For the moment the author sees the great possibility for high volatility. The charts from the past say that it is possible for the ETH to rise to the new ATH (in USD and EUR) and  not necessarily in ETHBTC. Then quite heavy and intensive correction could fall upon us and finally break through to the area 20-30 USD. We will talk about it more if some confirmation will come in the next few days.

For the moment:ETHBTCShortTerm

As you can see, we again have plenty of “a-b-c” moves. The only one wave, which can be considered as 5 waves move is the one where you see violet rectangle. If that is correct what is pictured, we should see the break up above 0.02750.

This is, however, the waves structure (and also volume) which will tell us what the mid-term consequences this “probable” break bring with it.

Finally, as said in the last post, the dive below 0.02290 brings bears back firmly in control.

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.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
In no event will we be liable for any loss or damage on your account in connection with the use of our publications.
Advertisements

Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

2 thoughts on “The wave of surprises is coming”

  1. Tested 2290 area twice on btc rise since your post (with eth is $ pretty stable); so it looks like holding/breaking 2290 depends on btc action (how high will it go?)

    Like

    1. Yes, it has some correlation indeed. I’m afraid we cn dive below this level. If it’s really the continuation of the bear move for ETH or not remains unclear at the moment.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s