Cloud Hosting

Today seems to be the time to decide about the Ethereum ETF. (The cryptocurrency market may get excited when the result is announced, so be careful with your positions).

Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.

When the Bitcoin ETF was approved, Bitcoin corrected about 20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".

Now let's check the Ethereum chart.

Ethereum has managed to break the Heavy Resistance zone (now the Heavy Support zone($3,580-$2,930)) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the Resistance zone($4,380-$3,950).

According to the Elliott wave theory, Ethereum seems completed the microwave 3 of main wave 3. Ethereum seems to be completing microwave 4 of the main wave 3 right now.

Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.

ETHBTC seems to be trying to break the important Resistance line and Resistance zone, and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason.

But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.

If you want to open a position on Ethereum, it is better to have a short position, because if Ethereum ETF is approved, the same scenario as Bitcoin may happen to it, and if it is not approved, the possibility of a fall is very very high, so the risk of a short position may be less now. What is your idea

Note: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the Heavy Support zone($3,580-$2,930), and this shock will also affect Bitcoin and other Tokens.

Note: An important point you should always remember is capital management and lack of greed.

Ethereum Analyze ( ETHUSDT ), 4-hour time frame .

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.

Please do not forget the ' like' button & Share it with your friends; thanks, and Trade safe.

Read more:

Everything You need to Know about Ethereum ETF for BINANCE:ETHUSDT by pejman_zwin - TradingView