Wednesday Update Ethereum - Brain freeze?
Greetings...
I would like to present everyone here our more detailed micro-count in Ethereum, as we already published one in bitcoin.
The situation is pretty similar, so I won't dive into this in great detail, and the chart should be pretty self-explaining.
Just as in bitcoin, we estimate that Ethereum could have established two bullish wave (i) - wave (ii) setups, which would trigger a tremendous bullish impulse. The upcoming hours will clear things up, especially if the minor sell-off of the last hours was a corrective wave (ii).
At last, Ethereum should stay above 1739.37$ UNDER ANY CIRCUMSTANCE. If we break below this level, we will activate our alternative (alt.ii) and the count will be adjusted accordingly.
See you next Sunday, greetings from Ben....
12H Chart - Ethereum (Index)
If you should have problems with tradingview's scaling of our chart, feel free to look at the chart below.
Please note that we are already invested in Ethereum since the 15th of June 2022, back then we announced our first positions here on tradingview.
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGTERM Target: +8’000$
I would like to present everyone here our more detailed micro-count in Ethereum, as we already published one in bitcoin.
The situation is pretty similar, so I won't dive into this in great detail, and the chart should be pretty self-explaining.
Just as in bitcoin, we estimate that Ethereum could have established two bullish wave (i) - wave (ii) setups, which would trigger a tremendous bullish impulse. The upcoming hours will clear things up, especially if the minor sell-off of the last hours was a corrective wave (ii).
At last, Ethereum should stay above 1739.37$ UNDER ANY CIRCUMSTANCE. If we break below this level, we will activate our alternative (alt.ii) and the count will be adjusted accordingly.
See you next Sunday, greetings from Ben....
12H Chart - Ethereum (Index)
If you should have problems with tradingview's scaling of our chart, feel free to look at the chart below.
Please note that we are already invested in Ethereum since the 15th of June 2022, back then we announced our first positions here on tradingview.
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGTERM Target: +8’000$
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
As previously discussed, ethereum seems to outperform bitcoin for now, and it's possible that we experience an increasing shift of capital into ethereum and altcoins.
The two wave (i) - wave (ii) setups were covered extensively in the past update and I mentioned them in a video, which I won't post here on tradingview. You guys know where to look for more detailed articles...
Have a great evening...
-Ben