Decentralized Financial Losses? Advanced Elliot Wave analysis
The chart above is what I believe is the most likely scenario (apologies to the mETH heads)...be vewwy vewwy careful.
The next two most likely scenarios are presented below (bullish counts). If I am wrong then the price could easily go as high as the mid 0.08x's or higher.
What is strange is that btc dominance looks like it is going to continue to fall off a cliff. So to me this says either
a. i'm wrong and the bullish picture is in tact for eth
b. this could be something specific to defi/eth
gluck. Will eventually be publishing this on the Truth Social Network in my >ltc-joe block as on official TSN Reference (using 3/3 signing) under the charts directory.
The next two most likely scenarios are presented below (bullish counts). If I am wrong then the price could easily go as high as the mid 0.08x's or higher.
What is strange is that btc dominance looks like it is going to continue to fall off a cliff. So to me this says either
a. i'm wrong and the bullish picture is in tact for eth
b. this could be something specific to defi/eth
gluck. Will eventually be publishing this on the Truth Social Network in my >ltc-joe block as on official TSN Reference (using 3/3 signing) under the charts directory.
Kommentera:
Price should likely retest this pink box (basic TA)...how she reacts from there should be telling.
Kommentera:
bounce came, now it's time for wave 5? don't NF-tease me baby lolz
Kommentera:
after the short term carnage me thinks nft defi liquidity flows into traditional alt cons
Kommentera:
guess i'll add this here, this was a response to a comment in another public chart asking about eth usd:
Arite so, I'm not sure how much longer we can do this going forward (making charts take time) and we are always very busy over here at LARP Capital but i'll make an exception since I was interested in this anyway.
I usually start with the micro picture and, once finding a reliable count, work in reverse and zoom out to the big picture. So here is the 1h, 6h, and daily view of how I see ETH USD right now.
s3.tradingview.com/s...shots/x/xiZ3awZ6.png
s3.tradingview.com/s...shots/3/3eYUnPDJ.png
s3.tradingview.com/s...shots/5/5CFQlTKz.png
As you can see this is a totally different scenario than what I see when I independently and objectively analyze Bitcoin. ETHUSD appears to be in a giant zig zag correction (to the upside), as opposed to bitcoin which just (IMO) completed a giant impulsive wave up. In a zig zag, once you have confirmed your count, the first approach is to assume the price action subsequent to wave c completion should break the 0-b line within the time it took c to form. So that would mean, given we are right about bitcoin of course, ETH is going sub $1000 within the coming months. Now, if you take the low end targets of where I think bitcoin is going, and do some 5th grade math (we're not talking euclideon geometry here) by appling my eth/btc targets to the projected bitcoin price, the picture for ETH starts to look real, real ominous. Now of course this all depends on the btc break down, but you an see how absent a greater understanding of what degree and corresponding coutn we are talking about for a given pair, comparing the end of a move in one pair to the end of a move in another is far from an apples to apples comparison.
Arite so, I'm not sure how much longer we can do this going forward (making charts take time) and we are always very busy over here at LARP Capital but i'll make an exception since I was interested in this anyway.
I usually start with the micro picture and, once finding a reliable count, work in reverse and zoom out to the big picture. So here is the 1h, 6h, and daily view of how I see ETH USD right now.
s3.tradingview.com/s...shots/x/xiZ3awZ6.png
s3.tradingview.com/s...shots/3/3eYUnPDJ.png
s3.tradingview.com/s...shots/5/5CFQlTKz.png
As you can see this is a totally different scenario than what I see when I independently and objectively analyze Bitcoin. ETHUSD appears to be in a giant zig zag correction (to the upside), as opposed to bitcoin which just (IMO) completed a giant impulsive wave up. In a zig zag, once you have confirmed your count, the first approach is to assume the price action subsequent to wave c completion should break the 0-b line within the time it took c to form. So that would mean, given we are right about bitcoin of course, ETH is going sub $1000 within the coming months. Now, if you take the low end targets of where I think bitcoin is going, and do some 5th grade math (we're not talking euclideon geometry here) by appling my eth/btc targets to the projected bitcoin price, the picture for ETH starts to look real, real ominous. Now of course this all depends on the btc break down, but you an see how absent a greater understanding of what degree and corresponding coutn we are talking about for a given pair, comparing the end of a move in one pair to the end of a move in another is far from an apples to apples comparison.
Kommentera:
I have updated the progress labels to reflect recent price action, in the grand scheme of things doesn't really change much, wave 5 of c down should be on the way:
s3.tradingview.com/s...shots/g/gAzKb7x0.png
s3.tradingview.com/s...shots/g/gAzKb7x0.png
