Short update on ETH

The market wisdom is that the crowd is most of the time wrong. Mostly it is related to buying the tops and selling the bottoms.

However, it is not only limited to this.

Here are two updated Elliott Waves long-term charts from the last ETH related post 5 days ago:ETHUSDLongTermETHBTCLong
As expected ETH is rising.

Here comes the point where the crowd is wrong.

The general expectation is that it will take us long time before ETH can recover (one year to get to 40 $). Some strong resistance is expected at around $ 14, and so on and so on.

However, this might be exactly the point where the crowd gets it wrong. The resistance is already broken. That was the real resistance line (author was watching it very closely):ETHUSDMidTerm

The ETH was depressed for too long time. It’s like a coil. When the sentiment gets “uncoiled”, the move can be amazing fast and strong.

Few words on ETC. As expected the sentiment there keeps moving to the “depressed” level. The author might publish an update in case it reaches the “we are doomed” area. For those interested in highly speculative trades on ETC(hild), just wait till no one believes in ETC anymore. We should be there pretty soon.

Get ready. The next round of shootout is about to begin.

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.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

6 thoughts on “Short update on ETH”

  1. The ETH charts look good! ‘Moonferrari’ comes to my mind.. ๐Ÿ™‚

    It would be interesting to trade ETC as well. The atmosphere on reddit for ETC is already quite negative so that will be a challenge for the etc holders to become even more negative! ๐Ÿ™‚

    By the way, I came across an interesting innovation: (speed/scalability and slicing of blockchain caught my attention). Their ico is closed, but in the long run it could have potential for both investment and trading.


    1. Yes, “heat” is (as fas as I understand) similar to waves (where I btw invested at ico). Basically, the idea of crowdfunding+blockchain is very good one. I still believe it should come up on Ethereum as a product. But anyway, the chances are to make money in any of them.

      As for ETC, yes, the sentiment was depressed enough.
      As I notice from this morning actions, the first real rebound started.


      1. ETC bottom surprised me; I wrote the message at the bottom (now up 30% or so). I didn’t buy into it; maybe next time. Trading ETC probably needs some babysitting. Using sentiment as an indicator does seem to work well! ๐Ÿ™‚


        1. Oh, yes, the sentiment is “the indicator” one needs to make a good trade.
          If you have a reliable sentiment indicator, you don’t need anything else.
          But that is very-very difficult to create a good one.

          I’m working at the moment on some ideas in this area. Will soon come out. The readers will be the first ones to participate in it.


          1. Great — looking forward to it! Something like downloading the relevant reddit trading pages and parsing these for negative/positive words to construct an optimism/pessimism index for each coin?


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