Finally warming up?

That was probably the longest pause between the posts on this blog. The author isn’t on vacation. But looks like some of the biggest ETH traders are either enjoying the summer or (more likely) speculating on the other cryptomarkets.

Now, after local highs have been established in XMR (the craziest rise in the last weeks) and AMP (though one more high would fit better into the Elliott Waves count) and also FCT have built nice top. Ah, yes, LSK should also continue its drift down.

What does it mean for ETH?

Quite probable, the traders will switch back to ETH and BTC. These are still two most liquid and long-term “safe” investments.

Here is the updated chart for ETHBTC, which we followed for the last few weeks:

ETHBTCLongTerm
ETHBTC, 4 Hours Chart

As you notice, the last trend line (the red one) after few attempts was finally broken. The rise might accelerate from here. The next stop level would make sense around 0.024.

We will have to asses the sentiment though on our way up.

Talking about the sentiment. ETC. When we last time talked about this “weird” guy, we said that the sentiment is moving down from extremely optimistic to the pessimistic one. You might still remember that optimistic one: “ETH is dead”, “ETC is the new king”, “code is the law” – there were many sayings from mostly pumpers and dumpers. Now the language changed quite a bit. Still, we aren’t in the mood where the author would consider to call it “the pessimistic bottom”.

Here is some visual and textual combination of what might soon happen in ETC land:ETCBTCLongTerm

The author hopes we will get more dynamic in Ethereum trading from now on. So that we can see each other (at least virtually) soon again.

But before we end our conversation for today, one question. Would you be interested to get more precise and sophisticated sentiment tool?

Please, give the author some opinions in the comment area.

Enjoy your day.

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

8 thoughts on “Finally warming up?”

  1. Yes, the sentiment tool would be awesome! If it makes sense me and the other readers may also contribute if that helps (testing, coding, ‘data collection’ or some ETH payments)

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  2. Hey guys! A sentiment tool sounds really interesting to me also. Am fascinated by the idea of visualizing group psychology in a valuable and actionable way. I’m a freelance UI/UX designer so would be willing to chip in some design assistance if needed (html/css also). Sorry have been away for awhile, just super busy. And things have indeed seemed kind of quiet in crypto land this August but looks like ETH is finally inching up a bit now. Woo! (So thanks Ravno for your continued interesting posts.)

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    1. Oh, cool, didn’t know what are you doing. Actually, I put a lot of value into design and UI/UX (have two very nice designers, working part-time with me already), so one more would be great! I’ve just made a notice for me =)

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      1. Sweet! Am happy to collaborate, or just be a sounding board/early user to bounce things off of, if you have the design side covered. Feel free to email me directly if you need anything.

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