Hello Traders Investors And Community,
Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspective. Ethereum especially the last times is one of the more volatile currencies within the market forming movements to the up as well as to the downside and indicating traps into both directions, this is important to not underestimate, and especially for inexperienced traders it can prove fatal however when lined-up rightly such price-swings can lie ground for good opportunities as we have also managed within the channel to take up such opportunities, therefore I detected the current fractal structure, important levels and what are main scenarios we should consider within the upcoming times.
Fractal Developments:
As when looking at my chart now we can watch there how Ethereum already once completed this major expansion-fractal in which it firstly develops a accumulational-phase with the waves reaching from A to E before it finally managed a breakout and validation to the upside showing up with the expansional-phase as it is marked. Currently, Ethereum is about to form a very similar structure in the schedule with the accumuational-phase still ongoing and the waves A to C already completed, now when Ethereum stays within this channel and manages to continue with the wave-count in the channel this can lead to a similar breakout above the boundary as it was seen within the first fractal already.
Upcoming Determinations:
Taking all these factors into the consideration, Ethereum is in a situation where it can complete this main fractal once anew and as when comparing the structure this second fractal is much steeper than the first one which can indicate that Ethereum completes a stronger bullish breakout however the possibility is also higher to invalidate it which will happen when Ethereum moves below the lower-boundary, therefore, in this case, it is of high importance to wait for the proper validations before moving into the final direction. And it is also necessary to distinguish Ethereum from other currencies as not each is building such dynamic formation to build upon, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Ethereum, we are looking at the 6-hour timeframe perspective. Ethereum especially the last times is one of the more volatile currencies within the market forming movements to the up as well as to the downside and indicating traps into both directions, this is important to not underestimate, and especially for inexperienced traders it can prove fatal however when lined-up rightly such price-swings can lie ground for good opportunities as we have also managed within the channel to take up such opportunities, therefore I detected the current fractal structure, important levels and what are main scenarios we should consider within the upcoming times.
Fractal Developments:
As when looking at my chart now we can watch there how Ethereum already once completed this major expansion-fractal in which it firstly develops a accumulational-phase with the waves reaching from A to E before it finally managed a breakout and validation to the upside showing up with the expansional-phase as it is marked. Currently, Ethereum is about to form a very similar structure in the schedule with the accumuational-phase still ongoing and the waves A to C already completed, now when Ethereum stays within this channel and manages to continue with the wave-count in the channel this can lead to a similar breakout above the boundary as it was seen within the first fractal already.
Upcoming Determinations:
Taking all these factors into the consideration, Ethereum is in a situation where it can complete this main fractal once anew and as when comparing the structure this second fractal is much steeper than the first one which can indicate that Ethereum completes a stronger bullish breakout however the possibility is also higher to invalidate it which will happen when Ethereum moves below the lower-boundary, therefore, in this case, it is of high importance to wait for the proper validations before moving into the final direction. And it is also necessary to distinguish Ethereum from other currencies as not each is building such dynamic formation to build upon, it will be an interesting development.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.