ðToday seems to be the time to decide about the Ethereum ETF. (â ïļThe cryptocurrency market may get excited when the result is announced, so be careful with your positionsâ ïļ).
ðLet's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.
When the Bitcoin ETF was approved, Bitcoin corrected about â20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".ð
ðĄSo there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin.
ðNow let's check the Ethereum chart.
ðââïļEthereum has managed to break the ðīHeavy Resistance zoneðī (now the ðĒHeavy Support zone($3,580-$2,930)ðĒ) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the ðīResistance zone($4,380-$3,950)ðī.
ðAccording 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.
ðLet's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.
ðETHBTC 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.
ðBut right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.ð
ðAccording 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 ðĒHeavy Support zone($3,580-$2,930)ðĒ, if ETHBTC also corrects at the same time, it will be a more suitable situation.
ðIf 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 ideaâïļâ
âïļâ ïļNoteâ ïļâïļ: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the ðĒHeavy Support zone($3,580-$2,930)ðĒ, and this shock will also affect Bitcoin and other Tokens.
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT ), 4-hour time frame â°.
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 â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
ðLet's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.
When the Bitcoin ETF was approved, Bitcoin corrected about â20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".ð
ðĄSo there is a possibility that if Ethereum ETF is approved, Ethereum will be corrected for a while like Bitcoin.
ðNow let's check the Ethereum chart.
ðââïļEthereum has managed to break the ðīHeavy Resistance zoneðī (now the ðĒHeavy Support zone($3,580-$2,930)ðĒ) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the ðīResistance zone($4,380-$3,950)ðī.
ðAccording 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.
ðLet's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.
ðETHBTC 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.
ðBut right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.ð
ðAccording 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 ðĒHeavy Support zone($3,580-$2,930)ðĒ, if ETHBTC also corrects at the same time, it will be a more suitable situation.
ðIf 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 ideaâïļâ
âïļâ ïļNoteâ ïļâïļ: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the ðĒHeavy Support zone($3,580-$2,930)ðĒ, and this shock will also affect Bitcoin and other Tokens.
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT ), 4-hour time frame â°.
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 â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
āļāļēāļĢāļāļ·āđāļāļāļēāļĒāļĒāļąāļāļāļāļāļģāđāļāļīāļāļāļĒāļđāđ
āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļģāļāļģāđāļĢ:
I took profit 2 times:). Short and Long, what about you?
Ethereum spot ETFs approved by SEC.
Ethereum spot ETFs approved by SEC.
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
Fibonacci lines work well.
Follow this ascending channel in a one-hour time frame.
Fibonacci lines work well.
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
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.
āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļģāļāļģāđāļĢ:
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.
āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļģāļāļģāđāļĢ:
Next Target Done
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Ethereum is likely to touch the Heavy Support zone($3,580-$2,930) once again.