D4rkEnergY is back with an analysis on Ethereum. Let's jump in. First of all D4 wants you to pay attention to, how Ethereum has fared compared to Bitcoin lately. The short answer is: Not good. When BTC goes up, ETH also usually goes up, but not as much. When BTC goes down, usually ETH falls even lower.
But let u take a look at the 4h ETHUSD Chart. So right now BTC is in process of making a 5th Elliot wave up, even though it is struggling trying to get out of the downtrend channel. Ethereum on the other hand already had an Elliot Wave Failure on Wave 4. That happened after it fell out from it's ascending wedge, which D4 predicted it would, in an earlier post.
At this moment Ethereum is trying to climb up at a new trendline (dotted green) inside the descending channel, where it has found support. But at this very moment, we are fighting with EMA100 and EMA50 just above our head. Also D4 wants you to take notice of the MACD. A bearish MACD-cross is about to happen, which means that the bulls has lost their momentum to the bears.
It would be devastating for ETH if it falls through the green trendline. We are not far from doing that. And it is almost 100 % sure it will happen if Bitcoin will fall even lower.
Therefore Ethereum needs a lot of help from Bitcoin, so it slowly and safely can climb the ladder - and hopefully also trough and out of the descending channel.
Let's cross our fingers!
D4 loves you <3
PS. Remember to hit the LIKE button like a boss - and follow for more updates! And remember - next Wednesday it is! Thanks in advance, my friends! :)
评论
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ETHEREUM is still in huge problems. It seems like it had found support in an small ascending channel, but a smaller bear flag has taking form, and might push us out from the channel already now.
If we manage to go up, we are still in trouble if we don't make 3 higher highs. An HS pattern will then be created, and once again we will fall through.
ETH really needs help from BTC!
Please give a LIKE if you like the updates. Thx a lot my friends <3
I want to buy some ETH - just to add to my current long term stash - so should I buy now or wait?
hegelkant
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pretty much any coin could use the bitcoin help at this moment
Kotaiba_Watted
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what about BTC? any update
MrRenev
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@Kotaiba_Watted, It's testing the downtrend right now.
Making the suspense last a little longer as 24 horus weren't enough.
Maybe we just get a 0.5 retrace from the impulse that got us above it and then we go back up after that.
Sidney-CWB
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D4rkEnergY and friends, and about ETC? In my opinion, it has a better potencial to rise than ETH, hasn’t it?
houseofari
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In the last few months I haven't seen ETH go down while BTC goes up and here we are, about to live it.
KTRAD
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Agree! I think that 821 and 790 are in play.. the worst case would be something a little under, i would'nt be confortable with holding it under 789
SorinBlajan
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eth is paying for the failed attempt to become the father of... his father
RealCashCannon
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Hey Dark,
I had a similar theory it can break out but I am leaning towards breaking low as you will see with volume decline. We need to break volume before we can confirm move wouldn't you agree?