Ethereum Bitcoin ETHBTC Pair Price News Today – Technical Analysis & Elliott Wave Price Prediction!

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Ethereum Bitcoin ETHBTC Price News Today – Technical Analysis Update! Elliott Wave Price Prediction! In this video I talk about a technical analysis of the Ethereum Price and I talk about some important price moves that are happening right now! Ethereum Price Prediction! I also talk about Elliott Waves!

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Hello and welcome to another update video today we want to talk about eth BTC and it is starting to look more and more promising main reason for this video is to confirm that East BTC has has broken a trend line it’s literally just happened so we are going to zoom in

And also that it looks more and more promising that e BTC is actually starting to get into an uptrend why is that important well because it indicates that this sort of medium-term downtrend you could even say long-term downtrend that started in December 21 it seems to be over the potential was always there

But now also the action is there the momentum is turning on and um you know I’ve I’ve outlined this potential um already months ago but we’ve never had a confirmed reversal then I communicated a Target which basically um the price reacted to the earliest one the first

One and we had a first impulse to the upside here into the January highs and um the chart failed to form a nice five-wave move but we still gave it a chance that communicated another support area and it did hold it and it’s now turning on and we’ve got five waves up

Again five up three down five up nice one two one2 setup this could still turn into I mean could it could still fail okay it could still fail but for now because we are getting this momentum and maybe I’m a little too early because I really would like to see a break above

That 0611 level here which is this swing high from the 12th of January I would I would need to see that first for really all three levels of confirmation you can get really an Elliot wave but we’ve reversed nicely in this support region so anybody who traded this pair there you go this

Was a great setup but it’s more useful for determining okay which coin is actually performing which one so eth is outperforming Bitcoin now temporarily at least and if this is turning on then we see um obviously what I’ve been highlighting already months ago that eth has the potential to outperform bitcoin

And it’s actually doing it now okay so it actually acted the Bulls acted on that momentum also probably in light of that ETF speculation so that’s good we want to talk about the structure in a little bit more detail but you know I can in terms

Of momentum I I was very patient I Tred to I try to emphasize okay on this way down okay here is maybe a reversal but okay we cannot confirm it yet no no no no no okay hit Target let’s see if we can form a five wave move up okay we’ve

Got that let’s see if we get a three-wave pullback okay let’s we have that can we see another five wave move up yes and now that momentum is turning on I mean um it’s always worth waiting for you know to get some action to confirm it because you know you can talk

About potentials all the time there are many people who talk about potentials all the time on crypto Twitter anything is possible but does it happen Okay so we want to live in the present and actually focus on what the chart is doing right now and it shows us the

Patterns that we need to see really so the road map is actually being followed now what does the road map tell us well here from this reversal area this could have been a b-wave pullback and ideally ideally we now see this c-wave to the upside and that’s a decent move I mean

Normally what we do is we take the one:1 ratio 100% extension have this a wve to the upside the low of the b-wave and then the 100% extension common Target .25 I mean that is in % from where we are now roughly 300% so that is eth you know

Outperforming BTC now let’s go to the one hour chart what do we need to see next and which levels now need to hold so you have something to watch out for obviously ebtc is breaking a trend line right now we have five waves up again maybe we get a nice pullback I think

It’s due um ideally we would get it uh we’ll see but the trend is up now so what we’d like to see is in any pullback that happens now I needed to hold 0.052 0 Al so 0.059 no 0529 that needs to hold and this is the

78.6 retrace of the current rally that level will of course change a little bit if we go any higher than that um but this level needs to hold because in any pullback if we get a break below that 78.6 FIP level after five waves have formed is an indication it’s failing but

Until that happens I assume we’re now running so um broke the trend line pullback I think is due at some point next resistance obviously that wave one high at 0.0061 and but there is currently no indication that pullback is happening so it could get an extended

Fifth wave whatever so I just wanted to emphasize what is the key support the trend is up against that level next resistance is up there as I said 0061 and I think we can look forward to an uptrend if anything changes I’ll let you know hope you like the update if you

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