Tuesday Update 07.02.2023 - Ethereum
Unfortunately, Ethereum doesn’t give us more clues than bitcoin already did, in Ethereum we are convinced that the wave (i) top is already in place.
The chart movements since January 21st just point towards a corrective a-b-c movement, we wrote about this already last week and don’t have anything more to add to this.
The only possible difference between bitcoin and Ethereum could be that the price may have established one or two bearish wave (i) wave (ii) setups. As most of you know, a wave (c) moves in a 5 impulse and those two bearish wave setups could create enough momentum to push the price below 1500$ again…
We are tracking this possible setup in a micro count, however it is too early to speculate on such a setup, and we will post this microcount here if we think that this scenario gains in probability.
Additionally we want to highlight that our scenario of a possible rally towards 1800$ is still possible, we will update everyone on here accordingly.
Don’t get bored by the slower movements in both Bitcoin and Ethereum and stay tuned for future updates, we could see a return of momentum in this week!
Please notice that we are already invested in Ethereum since the 15th of June, back then we announced our first positions here on tradingview.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGERM Target: +8’000$