Regularly published in-depth analysis for the Ethereum (ETH) and sometimes other crypto tokens. We talk about the current price and a possible future development.
Some charts again =)
The author can post the charts again. Let us start with BTCUSD:
This illustrates what was written in the last post. 5 waves are completed, we should make a partial retracement now. The most usual area is marked on the chart. When the correction will be over, there must be optimism again. Strong enough so that the decline can continue.
And here we go with ETHBTC (long-term chart):
The structure would look better if we first could make the slightly new high and then corrected down. That’s why the first yellow arrow down goes from 0.029. Will the market follow our predictions so closely? We will see it in the next few days.
Tha last thing to mention for today. As we said in a post right before the DAO fulfilled its destiny and these wild moves started. In trading/investment the history repeats itself in a fractal way. The magnitude in our current situation is much bigger than it was when the ETH price was breaking the ATH at that time (going above green wave 3 on the chart above). The author has to admit, he underestimated by how much wilder the wave will be.
Now when the author was finally able to share in a visual way the big picture, we will come down to some detailed charts in the next update.
Take care and enjoy the summer. Here in Germany it’s in full power now.
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.
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