ETH could be entering the volatile period

From looking at the ETHBTC chart, the eye of Elliott Waves practitioner doesn’t get excited. No clear 5 waves structure in any direction, be it up or down:ethbtcmidterm

We are only left with the trending channels at the moment. And the author believes this is exactly where the action will take place now.

The upper trend line was broken on the way up and the price came back to touch it again. This is typical and normal. What happens next, however, is of an important meaning.

If ETHBTC can’t sustain the rise and goes down below this line again, the chances are we will witness the slide all the way back to around 0.016.

If, we, however, can resume the rise again, then nothing can stop the ETHBTC from reaching the 0.028 area.

The sentiment is pretty neutral or even below average at the moment, so it does easily allow the move in both direction with slight preference for a rise.

What we will pay attention to is the reaction of the crowd to the next price move. That is a subtle yet very insightful key if one has to make some decision in such “indecisive” market environment as we have now.

Stay tuned, the author coming back slowly to normal writing schedule after the DevCon2.

By the way, as one of the main results from visiting Shanghai and talking to many great minds with pretty reasonable approach to how we can build the sustainable blockchain environment, the author wrote the following article – pets.com of the blockchain era is coming ?

Talk to you soon and get ready for XMR, it is very ripe for a rise.

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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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

2 thoughts on “ETH could be entering the volatile period”

  1. I’m thinking BTC could be about to make a significant move UP, especially if the Winkelvoss ETF gets the green light. But if it doesn’t…….maybe BTC gets dumped? Perhaps given the lack of obvious wave structure in ETH, the next big move will be determined by BTC, with ETH moving inverse to BTC?

    In other news, this latest XMR dump looks to have decent volume and plenty of “XMR is dead” type comments in the polo troolbox. I had a very small nibble at getting back in on the long side at 0.014 a day or two back, which is now comfortably underwater. I’ve put a much bigger buy order in at 0.011.

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    1. Yes, XMR is getting ripe for a reversal. We only miss some “bad news” and the longs can be built up. For Elliott Waves the are around 0.012 is also the most typical one for reversal.

      As for ETH and BTC. I would expect BTC spike up soon, combined with some good news. May be segwit or some smart contract platform on top of BTC would be the best turning point.

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