Intermediate roundup

Emotions are interesting part of our life. Just few days ago it was so difficult to write the text like “Bottom line. The rise is expected…”. Everyone and their mother was bearish. There were plenty of concerns and reasons for further decline. And to be honest they are real (concerns and reasons for low ETH price), no doubts about it. However, the markets are working not in a straight logical way. Quite opposite. The main purpose of market is to fool the majority of its participants. Ok, joking. At least partially.

The emotions for trader/investor (as in the real life) can be friend or can be enemy. It’s not the emotions itself, which becomes your friend of enemy. It’s our skillful attitude to every particular emotion. If this attitude is trained over and over again, we gain the ability to use the underlying power of every single emotion. This power can, in case of investment, manifests itself in making the right investment decisions.

Now, to work with the emotions and its “hidden” power in a direct way is a very high level mastery, which can never be learnt online or through the reading.

However.

Luckily for us, Elliott Waves give us tremendous tool to predict and point out exactly those emotional turn points. Besides, you have the author on your side. He can gather the needed sentiment information for you.

Ok, we were able to pinpoint pretty exactly the last bottom.

The mentioned in the last post bearish trend-lines are broken for all ETH pairs (ETHBTC, ETHUSD and ETHEUR).

So, sky is the limit now? One million question.. Let us try to find an answer with the help of Elliott Waves:ETHBTCShortTermFirst, look at how perfectly the mentioned trend-line was broken. The price goes pierces it the first time, retraces back to “kiss it again” and then rise more, and more, and more..

Today the author will open another his secret.

We have now the first finished 5 waves (yellow arrow with the text on top), then the retracement and the new rise is in the process right now. What we can do is to use “Fibonacci extension” (see the dotted lines). We want to check the following: is there any relation between the first 5 waves and the next ones? For instance, if it will be 1:1 (you see red 1 with the price in the brackets afterwards) the chances are it’s just a correction. To make a more clear call, the author would normally have to check some secondary aspects. This is just one example as there are many other possible scenarios. For those who are seriously looking for learning and applying the Elliott Waves principles, the author would advise including this technic into regular analysis.

Bottom line for today. The rise should continue.

Tomorrow will be most probably very interesting day with Bitcoin halvening on the agenda. So it will give us more price action and patterns.

To finish for today, consider subscribing to this blog (the button should be somewhere on the right side). As the experience shows, quite often updates are coming just in time.

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.

Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

6 thoughts on “Intermediate roundup”

    1. Obviously I’m not the expert here, but for btc I keep an eye on the moving average (50 SMA, the default) on the 4hr chart, see: https://cryptowat.ch/bitfinex/btcusd/4h
      It acts as an important support/resistance and crossing it is usually ‘violent’ (it is currently below this moving average). I am ‘waiting’ as well for btc to behave and come down ๐Ÿ™‚

      Like

      1. The BTC picture is still the same as discussed the last few posts.
        There is no bullish pattern at the moment.

        Regarding moving averages, I see them as pretty useless.
        They don’t help to make any trading decisions with strongly defined SL (stop-loss).
        Without SL position size can’t properly calculated.
        Without position size there is no trade =)

        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