My Friends. • The future includes infinite possibilities. Out of all the possible outcomes, I chose three scenarios that are, IMO, the most likely. Of course, I cannot predict the future. I would ask you to consider these scenarios as an exercise and I would appreciate your feedback and suggestions. • In this post, I am looking for possible long trades, beginning from the most optimistic scenario and proceeding to find potential reversal zones in case ETH loses the uptrend. Scenario One – The most bullish scenario • In this scenario, ETH doesn’t lose the uptrend. Instead, it finds support on the junction of the diagonal upward-sloping trendline and the horizontal support at the 1780 level. • To confirm this scenario, ETH has to surpass the 2146 USDT level to confirm the uptrend. Scenario Two – ABC correction • IMO, this is the most likely scenario. • In this scenario, ETH loses the trendline. It then finds support at the convergence of the 0.382 fib retracement and a nested demand zone. Then, it will push up, in an attempt to reclaim the trendline and fail at the juncture of the trendline and the 1880 horizontal resistance level. • In this scenario, ETH can turn around, and resume the uptrend between the 0.5 fib to 0.618 fib retracement. Scenario Three – Straight dump. • IMO, this scenario is not very likely, or at least not right away. The reason is that bullish sentiment for ETH is still strong. Currently, I don’t see a cause that can create such a scenario. • In this scenario, the head and shoulders pattern is in full swing, and ETH dumps until it retraces all or most of the uptrend. Note: I am not an EW expert. I labeled the uptrend as five waves and the correction as three. I
הערה
Note: I am not an EW expert. I labeled the uptrend as five waves and the correction as three. I did not check if it fits with myriad EW rules and regulations. IMO, the proportions fit, and this just meant to reflect a structure including an uptrend and a correction.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.