๐Today seems to be the time to decide about the Ethereum ETF. (โ ๏ธThe cryptocurrency market may get excited when the result is announced, so be careful with your positionsโ ๏ธ).
๐Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.
When the Bitcoin ETF was approved, Bitcoin corrected about โ20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".๐
๐กSo there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin.
๐Now let's check the Ethereum chart.
๐โโ๏ธEthereum has managed to break the ๐ดHeavy Resistance zone๐ด (now the ๐ขHeavy Support zone($3,580-$2,930)๐ข) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the ๐ดResistance zone($4,380-$3,950)๐ด.
๐According to the Elliott wave theory, Ethereum seems completed the microwave 3 of main wave 3. Ethereum seems to be completing microwave 4 of the main wave 3 right now.
๐Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.
๐ETHBTC seems to be trying to break the important Resistance line and Resistance zone, and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason.
๐But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.๐
๐According to the above explanations, it seems that if you want to add Ethereum and other Altcoins that are on the Ethereum network to your portfolio, it is better to wait for Ethereum to reach the ๐ขHeavy Support zone($3,580-$2,930)๐ข, if ETHBTC also corrects at the same time, it will be a more suitable situation.
๐If you want to open a position on Ethereum, it is better to have a short position, because if Ethereum ETF is approved, the same scenario as Bitcoin may happen to it, and if it is not approved, the possibility of a fall is very very high, so the risk of a short position may be less now. What is your ideaโ๏ธโ
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the ๐ขHeavy Support zone($3,580-$2,930)๐ข, and this shock will also affect Bitcoin and other Tokens.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT ), 4-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๐Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.
When the Bitcoin ETF was approved, Bitcoin corrected about โ20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".๐
๐กSo there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin.
๐Now let's check the Ethereum chart.
๐โโ๏ธEthereum has managed to break the ๐ดHeavy Resistance zone๐ด (now the ๐ขHeavy Support zone($3,580-$2,930)๐ข) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the ๐ดResistance zone($4,380-$3,950)๐ด.
๐According to the Elliott wave theory, Ethereum seems completed the microwave 3 of main wave 3. Ethereum seems to be completing microwave 4 of the main wave 3 right now.
๐Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.
๐ETHBTC seems to be trying to break the important Resistance line and Resistance zone, and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason.
๐But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.๐
๐According to the above explanations, it seems that if you want to add Ethereum and other Altcoins that are on the Ethereum network to your portfolio, it is better to wait for Ethereum to reach the ๐ขHeavy Support zone($3,580-$2,930)๐ข, if ETHBTC also corrects at the same time, it will be a more suitable situation.
๐If you want to open a position on Ethereum, it is better to have a short position, because if Ethereum ETF is approved, the same scenario as Bitcoin may happen to it, and if it is not approved, the possibility of a fall is very very high, so the risk of a short position may be less now. What is your ideaโ๏ธโ
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the ๐ขHeavy Support zone($3,580-$2,930)๐ข, and this shock will also affect Bitcoin and other Tokens.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT ), 4-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
ืขืกืงื ืคืขืืื
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื:
I took profit 2 times:). Short and Long, what about you?
Ethereum spot ETFs approved by SEC.
Ethereum spot ETFs approved by SEC.
ืืขืจื:
Follow this ascending channel in a one-hour time frame.
Fibonacci lines work well.
Fibonacci lines work well.
ืืขืจื:
In my opinion, Ethereum will go down to at least $3869 and touch the Uptrend line again.
In my opinion, Ethereum will go down to at least $3869 and touch the Uptrend line again.
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื:
Ethereum was able to touch $3869, as I expected, and break the Uptrend line; the next target could be $3750.
Ethereum was able to touch $3869, as I expected, and break the Uptrend line; the next target could be $3750.
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื:
Next Target Done
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Ethereum is likely to touch the Heavy Support zone($3,580-$2,930) once again.