#ETH = Daily Analysis = 28.12.2021 $ETH #Ethereum #fintwit #crypto #ElliottWave

ETH formed a very nasty bearish combo on a 2-day chart – Falling 3 Methods. Supported by certain indicators, the bearish odds are so high that any move northbound will be treated as a big surprise.

This daily overview contains:
– daily candle charts – analysis of candles and technical events;
– short term EW chart and targets.

CANDLES

Monthly Alert
If ETH closes December below $3915 (Coinbase price), it will form a bearish Engulfing on the monthly frame. Such candle is typically followed by at least a month of lower prices.
As I type – ETH at $3809.

Daily
The 2-daily Falling 3 Methods over the last 16 days is a very strong bearish message. While we can see a little pause (horizontal movement) for a few periods – remember that each candle represents 2 days – a move down is almost guaranteed.
Odds: Strong Bearish

From the previous analysis: “The monthly and quarterly candles will be printed this week. Their current shapes are vulnerable to a sizeable decline if it happens before the end of year. The next five days could be the trend setting for the months/quarters ahead.”

ELLIOTT WAVES
Long Term
The long term forecast will be finalized after the monthly/quarterly candles are printed.

Short Term
The strength of the wave down hints of a possible triangle breakout that I was tracking for a while.
Note that ETH has also moved below the long term channel.

Summary:
Most typical triangle breakout targets: $3210-2950, also possible – $2620.

In order to make an attempt to flip the odds bullish, ETH would need to close on December 30 at least above ~$3950. Until it happens – the odds remain strong bearish.

Bitcoin Daily Analysis:
https://investingangles.com/2021/12/28/btc-daily-analysis-28-12-2021-btc-bitcoin-crypto-fintwit-elliottwave/

Other Analyses:
$SPX, DJIA, NDX – Daily Analysis (no subscription):
https://investingangles.com/2021/12/28/us-indices-daily-analysis-28-12-2021-spx-dowjones-spy-sp500-dia-es_f-ndx-fintwit-qqq-elliottwave/

$Oil $WTI – Long Term Forecast – 2022-2023
https://investingangles.com/2021/12/27/wti-oil-long-term-forecast-2022-2023-27-12-2021-wti-investing-commodities-elliottwave/

NatGas Long Term Forecast (no subscription):
https://investingangles.com/2021/12/24/natgas-long-term-forecast-24-12-2021-natgas-commodities-energy-fintwit/

Gold – Daily Analysis:
https://investingangles.com/2021/12/28/gold-xau-daily-analysis-28-12-2021-gold-preciousmetals-gdx-gld-xauusd-gc_f-elliottwave/

TSLA Long Term Forecast:
https://investingangles.com/2021/12/22/tsla-long-term-forecast-educational-22-12-2021-tsla-investing-fintwit/

VIX Weekly Analysis:
https://investingangles.com/2021/12/24/vix-weekly-analysis-24-12-2021-stockmarket-vxx-investing-trading/

DXY Weekly Analysis:
https://investingangles.com/2021/12/24/dxy-weekly-analysis-24-12-2021-dxy-dollarindex-usd-fintwit/

Bitcoin Weekly Analysis:
https://investingangles.com/2021/12/26/btc-weekly-analysis-26-12-2021-btc-bitcoin-crypto-cryptocurrency-fintwit/

Market Pulse – Weekly – $MSFT $AMZN $AAPL $FB $XOM $NVDA $TSLA $GOOGLE:
https://investingangles.com/2021/12/26/market-pulse-weekly-26-12-2021-msft-amzn-aapl-fb-xom-nvda-tsla-google/

A $10 USD monthly subscription gets you access to the monthly and weekly analyses, mid and long term forecasts for cryptocurrencies, major US and some world indices, volatility index and DXY, precious metals and miners, commodities, popular stocks and more. There is no free trial. For $10 USD you can evaluate the service for a month and discontinue the subscription at any time.
https://investingangles.com/subscription/

%d bloggers like this: