The wave is getting closer

The author hopes you had a nice weekend and the exciting Ethereum (and not only) cryptomarket is readily waiting for you.

This mentioned in the last post “wave of surprises” is getting closer. One can see it pretty clear by looking at ETHUSD and ETHEUR. We are close to ATH and it seems like the only reason we haven’t broken up is the rise and attention to BTC. Which is fine, correct and also according to our view. More probable that BTC will make at least one more high.

But let us come back to ETH:ETHBTCMidTerm

We have had two triangles lately. Wow! As said in one of the previous posts, the triangles are great to trade. One strategy could be to let the break out of the triangle to run its distance (one needs to count 5 waves) and then to play it from opposite direction. More often than not the price will come back close to the origin of breakout. So in our case the authors guess is that we want to see 0.02580 first. And, based on what Elliott Waves (the current pattern looks like a Flat: 3 up, 3 down and then again 5 up should come now) are saying us, this rise could continue to 0.028.

The further potential will be clear when we see more of the price structure.

Ah.. And don’t forget, the new ATH in USD and EUR is likely, but probably won’t lead to any huge gains in the next few days after the break out. The author promised to post some interesting charts from the past of ETH and yes, it’s coming. Just not now.

Take care, as always it’s a pleasure to write for you.

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.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

11 thoughts on “The wave is getting closer”

  1. Yay, triangles! Thanks again, very helpful. I too have the impression that ETH ‘wants’ to go up (ethbtc increased even though the June 3 btc increase) and held twice at 2290. Let’s see!

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  2. Thx for the update… have been distracted with “real life” lately so haven’t been as able to pay close attention. But still peeking in from time to time, waiting for the next big move!

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    1. Ahh, you didn’t miss much. We were stuck into two triangles. Good for short-term traders, boring for investors. These triangles, however, are a clear sign that we are about to break with the next big move. Get ready !

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      1. Thanks — I’m curious if we still have the correction to 2590-2900 on the menu, followed by a (deep) correction below 2000 🙂 — Did you also notice the DAO-discount is slowly growing? DAO-ETH on Kraken is now about 0.00915, a few days before it was more like 0.0094. Can we interpret that as selling pressure? (People accepting a discount just to get out of DAO/ETH?)

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        1. Two short answers:
          1 – yes, it is still possible. Actually, 2590 is already reached and the structre looks complete. So quite likely we will go down from here.
          2 – DAO-discount is normal. Will stay this way for some time. May be month.
          Will write more on both in a regular post.
          Also a bit busy these days =)

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