Ethereum (ETH) awareness of next moves
As requested, here's my analysis of Ethereum. Please let me know if this helps!
The current correction appears to complete the wave 4 correction of the primary cycle. (This is important so you can be aware of the next big correction that other crypto analysts overlooked!)
While we do have to be aware that a longer WXY correction may still be in play, it is perfectly acceptable that an ABC correction completed wave 4 as shown in the descending channel. If that is true, then the last increase that broke out of the channel is indicative that we have begun the 5th wave, with the last bump being the 1st impulse of that wave.
This is also supported by the ABC retrace to .618 which is deep for a wave 4, but in line with what we are seeing in the overall market. The only way to be certain is to watch that we don't see a lower low. However, a head and shoulders top was formed in the last bounce that when measured, supports a very common wave 2 retracement to just below .786 fib line. The only thing that can prevent that is the massive sell volume that begun around the 20th of Feb. Despite that, the indicators are still bearish at the moment. I know most analysts are bullish on this, and I would love to see everything in the market moon, but I see this going lower in the short term, before reaching new highs.
Healthy trading and profitable investments,
The Freedom to Be
Legal Disclaimer: The information provided herein is for informational, or entertainment purposes only. I am not providing financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs, and only invest what you are willing to lose.
If you profit from this idea and would like to keep the charts coming, wallets are below:
BTC: 13mG7EsCBB3wK2pQnV4zXqXUXmnVtCbmS6
LTC: LTfKUD4g4zytwbLFsFCJyG6N55xu3mtZYJ
ETH: 0x800fe4a5a75af9034f4982c04bdd4b557dca0f3f
BCC/BCH: 1QmchfEizCkLLweNySkAJmBCJ6zEtfkBB
Thanks for taking up my request.
until you begin to correlate your crystal ball analyses to actual underlying mechanisms of why things happen the way they do, they're just that - a wild guess devoid of any actual critical analysis.
it is still unclear how tightly correlated things are between traditional finance and crypto economics, but what is clear is the direction ethereum and the few things that fit gloves-in-hands with the logic of its protocol are going. a change by degree transitions to change in kind. this is exactly what i think all of you crystal ball 'technical' 'analysts' might miss.
I love that you bring this up! Although perhaps you are incorrectly insinuating that I don't understand the underlying value of various blockchain technology, which would lead me to believe this is the first time you've met me.
A change by degree transitions to change in kind is why the charts continue to go up, despite the repeated calls for "bubble". That's what people in finance either do not understand, or are afraid of.
What you call a crystal ball (and perhaps unfairly group me with those whose calls you've seen go south (which is precisely the reason I created this blog)), in fact represents the underlying mechanisms of human behavior; emotion, fear, greed, collective reasoning, etc.
While I do agree with you that those many 'technical' 'analysts' who draw a bunch of lines and then predict "UP!" may be throwing darts in the dark--the analysts who are good at recognizing this aforementioned behavior can be an invaluable tool for making educated decisions that many profit from. The trick is to recognize those whose calls are valid, and winnow the chaff from the wheat.
I appreciate your comment.
Good luck!
and i do thank you for your reply.
i suppose your advice might be well suited for day traders and such, however what i see with block-chains and acyclical topologies (another keyword that can be substituted here is non-linear, as i believe the semantic noise in this sphere is one of the most important things to fix) as general direction is the compact packing of strong economic signals as such, which - upon success, invalidate much of human psychology, i.e. metrics of greed and fear become metrics of systemic health. and speaking of health, i think it is a bit unhealthy to go by these analyses.
personal opinion.
One thing I would like to clarify, I'm not encouraging day trading. To the contrary, my goal is to diminish the FUD and show longer degrees of trend, or identify times to buy in if a opportunity was missed, rather than buying too high, and "chasing the dragon."
I value all of the points you have made.
Cheers!