What do we have here?

firstly, as expected and written in the last post, two things happened. BTC resumed its rise and the ETHBTC continued its decline. So we can say that ETH went into the shadow of BTC yet once again.

Secondly, one expectation isn’t fulfilled yet. Namely that we break the ATH in ETHUSD and ETHEUR.

So this is what the author is still expecting to take place.

But as we are in the shadow of BTC, what is going on there? Here is the long-term chart (the subscribers of this blog see it from time to time):BTCUSDLongTerm

As you can see, we are now most probably in the wave 5, after breaking out of the triangle. How high can it go? Nobody knows. Possible to find it out, based on the Elliott Waves? Hardly. The wave 5 in crypto tends to be (as in commodity) the most crazy and often extended one. So it’s really difficult to predict where the craziness will stop. However, we have another tool to predict the trend change. Namely sentiment. The author doesn’t follow as much as before the forums and chat rooms. However, even with this little time it should be enough to notice when the crowd will become unreasonable again. Stay tuned for it. It will definitely happen.

Let the BTC craziness not to overcome the real thing, which is Ethereum. The next big move will happen in ETH.

In the next post the author will finally share the long-term charts, which have been mentioned already several times on these pages. One of the subscribers, by the way, was very on spot with sharing his chart (in a comment to one of the last posts). Good eye!

Enjoy the rest of the weekend and get lucky with your football team. The Germany is playing in several hours and the streets here are already getting very quiet.

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.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

3 thoughts on “What do we have here?”

  1. Great! New ATH on Kraken ($15.2899) just now. Are we still expecting a deep correction for ethbtc as btc is doing its 5th wave?

    Enjoy the game!

    Like

    1. Haha, yes, indeed. Again shortly after I post, the price goes to where expected.

      Now there will be interesting movemenets to see in ETH.

      I’m not sure I can watch the game.. Need to work a lot lately for my new project. And you, are you in Europe or somewhere else ?

      Like

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