Member Request: A Look at $ETH

A member has requested an update on $ETH. Better than I able to do with Bitcoin (here), Ethereum is much easier to count as a whole, single triangle for minor degree—the green B up there. If that’s the case, then perhaps this will be done with its correction sooner, rather than later.

And this raises an interesting question: just how far off can these be from each other? Usually not that much. I can make this count also work for Bitcoin, but it looks more forced there than it does here.

So here’s what we should do: I would suggest that these are now competing crypto counts. I will watch them both closely from here to see which one works best for both of them. If green B is already in, then it would suggest that the big pink B I am looking for in equities may also already be in, so it’s important to get this right. Stay tuned, I will try to keep a close eye on these.

ES


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The Great Bear Case

The gamma squeeze, “cubic function” look to the last rally has given me great pause. I have spent a good deal of time thinking about it. I have shared my basic conclusions about it with you already, namely, that it may very well turn out to have been a finishing move, rather than a beginning move (I’ve discussed that here, for instance). But I am now increasingly concerned (excited?) that it may have been the finishing move.

And in fact, in answer to the question “Why on Earth did we go up like that?” I think the answer is essentially this: I think that was the total, utter, final capitulation of the bears.

I am going to run through a whole bunch of things in this article, just laying out pieces of evidence and observations. It is not my intention to sell you on the bear case; rather it’s a truth-telling expedition, in my opinion. I believe strongly in the bear case here, and I will share what I believe is the truth of the market. But it’s not my intention to persuade you, rather, to express what I feel is true.

Read more “The Great Bear Case”


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Here’s a Short-Term $ETH Call for the Plebs

Inverse targets the orange box.

ETH

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Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.


$BTC and $ETH Dump Was the Sweet Spot, New Targets

After bungling the suspected bull flags here and here, I think my instinct was right, but the structures involved larger than I was expecting. That said, the liquidation dumps we just got on both fell right into wave 2 ranges and formed better-looking bull wedges.

$BTC target:

BTC

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Bull Wedge on $ETH and Target

$ETH has formed a bull flag. While it may look like it’s trying to drip out of it, I believe that is a bear trap and that the flag will be saved. Breaking out will target the orange box.

ETH

Read more “Bull Wedge on $ETH and Target”


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Scrambling to Revise $ETH Count

In this tweet, I suggested that $ETH needed to make another low to complete minor (green) 2.

However, since it has broken out of what I interpreted as a b wave structure, it is possible to count green 2 as already behind us. After all, that sledgehammer dump took us almost into the ideal range for a wave 2. We may now produce targets for minute (blue) and minor (green) 3.

ETH


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.