๐ฅEthereum is on Ascending Triangle(Bear Market) ๐ฅ(Road map)๐ง
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Today, I decided to publish a Road map for Ethereum.
First, I have to say again sorry (This post is like with post that I published ''๐ฅ Bitcoin is on Contracting Triangle ๐ฅ (Road map)๐ง'') for the busy chart (ETHUSDT), but my chart needed these lines. Please spend a few minutes on it.๐
Location: ETH is on Main wave 4 (Zig zag 5-3-5) for about 25 days (From 4372$ until LIVE price) and I think that Main wave 4 will take more time from us (maybe more than one month, just a prediction).
My idea: ETH was able to pass the Microwave A (It had 5 microwave)of the Main wave 4 at 1866$. Now, ETH is running on Ascending Triangle (Bear Market shape). I was able to find the 3 main points of the triangle A-B-C (Ascending Triangle).
For finding Point D, we have to concentrate on Descending Triangle for Bull Market OR Barrier Triangle. (In the following, I will explain the reason for the word ''OR'').
I think that Point D can be around 2552$ == Near the Lower line of our Triangles.
I have three Scenario :
Scenario 1: when the price arrives to Point D, it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave B of the Main wave 4 was at Point C + microwave C of the Main wave 4 has started === Triangle that I spoke about it for finding Point D will be Barrier Triangle.
Scenario 2: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us (It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes DOWN at Point E, we can say that microwave C of Main wave 4 has started ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Scenario 3: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us(It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes UP at Point E, we can say that BTC will go UP by 5 new impulsive waves ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Also, I have to say that Microwave C can not go down less than 1406$ == Elliott's rules will be violated (Wave 4 and Wave 1 can not have overlap).
Resistance zones on Ethereum's way:
Resistance zone 1: 2900$ until 2935$ (The upper line of Ascending Triangle + Monthly Pivot Point) == Heavy Resistance
Resistance zone 2 : 2814$ until 2837$ (38.2% Fibonacci microwave A of Main wave 4 + Weekly R1+ 88.6% Fibonacci (Point A) until (PointB) ) == Light Resistance
Support zones on Ethereum's way:
Support zone 1 : 2264$ until 2180$ (88.6% Fibonacci (Point B) until (PointC)+ 61.8% Fibonacci (Point A) until (PointB) + support (major pivot)) == Medium Support
Support zone 2 : 1900$ until 1865$ (support (major pivots)) == Heavy Support
My Suggestion: please DO NOT buy Coins for Midterm and Long-term investment until the market finds a way.
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 be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
First, I have to say again sorry (This post is like with post that I published ''๐ฅ Bitcoin is on Contracting Triangle ๐ฅ (Road map)๐ง'') for the busy chart (ETHUSDT), but my chart needed these lines. Please spend a few minutes on it.๐
Location: ETH is on Main wave 4 (Zig zag 5-3-5) for about 25 days (From 4372$ until LIVE price) and I think that Main wave 4 will take more time from us (maybe more than one month, just a prediction).
My idea: ETH was able to pass the Microwave A (It had 5 microwave)of the Main wave 4 at 1866$. Now, ETH is running on Ascending Triangle (Bear Market shape). I was able to find the 3 main points of the triangle A-B-C (Ascending Triangle).
For finding Point D, we have to concentrate on Descending Triangle for Bull Market OR Barrier Triangle. (In the following, I will explain the reason for the word ''OR'').
I think that Point D can be around 2552$ == Near the Lower line of our Triangles.
I have three Scenario :
Scenario 1: when the price arrives to Point D, it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave B of the Main wave 4 was at Point C + microwave C of the Main wave 4 has started === Triangle that I spoke about it for finding Point D will be Barrier Triangle.
Scenario 2: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us (It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes DOWN at Point E, we can say that microwave C of Main wave 4 has started ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Scenario 3: when the price arrives to Point D, then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market) on this way). Point E can be a Critical Point for us(It is the end of microwave B of Main wave 4), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes UP at Point E, we can say that BTC will go UP by 5 new impulsive waves ==Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) .
Also, I have to say that Microwave C can not go down less than 1406$ == Elliott's rules will be violated (Wave 4 and Wave 1 can not have overlap).
Resistance zones on Ethereum's way:
Resistance zone 1: 2900$ until 2935$ (The upper line of Ascending Triangle + Monthly Pivot Point) == Heavy Resistance
Resistance zone 2 : 2814$ until 2837$ (38.2% Fibonacci microwave A of Main wave 4 + Weekly R1+ 88.6% Fibonacci (Point A) until (PointB) ) == Light Resistance
Support zones on Ethereum's way:
Support zone 1 : 2264$ until 2180$ (88.6% Fibonacci (Point B) until (PointC)+ 61.8% Fibonacci (Point A) until (PointB) + support (major pivot)) == Medium Support
Support zone 2 : 1900$ until 1865$ (support (major pivots)) == Heavy Support
My Suggestion: please DO NOT buy Coins for Midterm and Long-term investment until the market finds a way.
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 be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
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The location of Point D has changed, the price broke our falling wedge and we have to wait for point E.
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Scenario 1 will not happen.ืืขืจื
Scenario 2 happened ๐.
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The pullback to Falling Wedge.
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Ethereum is running well on the way of Scenario 2 ๐
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Bearish Bat Pattern๐ฆ + Weekly Bat Pattern ๐ฅ
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Bearish Bat Pattern๐ฆ worked๐
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๐ฅStill, we are on Scenario 2.๐ฅ
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New Update with New Post.
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