ETHEREUM ERREICHT $3500 PREISZIEL ! NIEMAND IST VORBEREITET AUF DIESEN BREAKOUT ! ETH Chartanalyse

Bitcoin Trading DE

29 Feb 202410:02

Summary

TLDRIn this insightful video on bitcointrading.de's YouTube channel, we dive deep into Ethereum's remarkable rally, reaching a $3500 price point. The video kicks off with a technical analysis update, highlighting Ethereum's strong performance alongside Bitcoin, and discusses the successful trade strategy that led to a substantial 45% increase within just 21 days. The presenter shares insights on key resistance levels, the impact of Ethereum's upgrade, staking hype, and the speculation around the approval of an Ethereum spot ETF. The video also covers strategies for realizing profits and addresses potential market movements, reinforcing a bullish outlook for Ethereum. Viewers are encouraged to leverage this analysis for informed trading decisions and are introduced to Femex for trading and investment opportunities.

Takeaways

😊 Ethereum has reached the target price of $3500
👍 The trading setup discussed 3 weeks ago played out very well, with Ethereum rising 45% since then
🔥 The price increase is attributed to hype around ETH 2.0 staking, scaling solutions like Optimism and speculation around an Ethereum ETF approval
😎 For those with open trades, take partial profits if the price drops below $3270
📈 The 4 hour chart still looks good as long as the green box around $3270 holds
🔮 Even a drop to $3000 on the daily chart would still keep the uptrend intact
🎯 The 0.68 Fib level lines up with resistance around $3500, making it a good area to take some profits
👀 The weekly chart shows a pattern similar to early in the 2017 bull run before a 400%+ increase
⏳ Expect rotations from Bitcoin into altcoins like Ethereum in the coming weeks when Bitcoin tops out
👍 The ETH/BTC chart shows a massive ascending triangle over years that could break out soon

Q & A

What price level has Ethereum reached recently?
-Ethereum has reached a price of $3,500 recently.
What was the trading setup that was discussed a few weeks ago?
-The trading setup discussed a few weeks ago was to go long after the descending blue trendline breaks above the horizontal resistance at $2,400.
What percentage gains has this Ethereum trade seen in the last 20 days?
-This Ethereum trade has seen gains of close to 40% in the last 21 days.
What price levels were projected for Ethereum by May?
-The projected price levels for Ethereum by May were $3,500 to $4,000.
What are some of the reasons given for Ethereum's strong rally?
-Some reasons given for Ethereum's strong rally are hype around staking, Eigenlayer updates, and speculation around a potential Ethereum ETF approval.
What support levels should be watched on the 4-hour chart?
-On the 4-hour chart, the green box around $3,270 should hold as support. A break below it could signal a drop to $3,000.
What Fibonacci level aligns with resistance around $3,500?
-The 0.618 Fibonacci level aligns with the resistance around $3,500.
What happened historically in Bitcoin after reaching all-time high prices?
-Historically after Bitcoin reaches new all-time highs there has been a rotation into Ethereum and altcoins.
What large ascending triangle pattern is identified on the weekly ETH/BTC chart?
-There is a very large ascending triangle pattern identified on the weekly ETH/BTC chart spanning multiple years.
What kind of breakout is expected from this ascending triangle pattern?
-A massive breakout to the upside of this ascending triangle is expected, likely surprising Ethereum bears.

Outlines

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Mindmap

Keywords

💡Ethereum

Ethereum is a decentralized, open-source blockchain system that features smart contract functionality. In the video, Ethereum is discussed in the context of its recent price achievement of $3500 and its performance in comparison to Bitcoin. The speaker analyzes Ethereum's price movement, attributing its success to factors like network updates, staking interest, and speculative activities surrounding potential Ethereum-based ETF approvals.

💡Price Analysis

Price analysis refers to the process of examining historical price data and market indicators to evaluate an asset's potential future movement. The video focuses on a detailed price analysis of Ethereum, mentioning its significant rise from a specific entry point and the successful prediction of reaching the $3500 mark, showcasing the importance of technical analysis in trading.

💡Technical Indicators

Technical indicators are mathematical calculations based on historical price, volume, or open interest information that aim to forecast financial market directions. The video discusses various technical indicators like trend lines, resistance levels, and the Lux Algo indicator, used to analyze Ethereum's market behavior and predict future price movements.

💡Resistance Level

A resistance level in trading is a price point on a chart where upward price movement is halted by a concentration of selling. The video mentions Ethereum facing a horizontal resistance at $2400 before breaking through it, which was a critical point for deciding to enter a long position towards the $2800 target.

💡Retest

In trading, a retest refers to the price of an asset returning to a key level of support or resistance after breaking through it. The script discusses Ethereum's price action, where after breaking a downward trend line and a resistance level, it retests these points, confirming the validity of the breakout and serving as the entry point for a long trade.

💡Long Position

A long position in trading is when a trader buys an asset with the expectation that its price will rise in the future. The video script highlights a scenario where, after certain technical conditions were met, a long position was suggested towards a target price, reflecting the trader's bullish outlook on Ethereum based on the analysis provided.

💡Lux Algo Indicator

The Lux Algo indicator is a trading tool that provides buy and sell signals based on market trends and volatility. In the video, this indicator is mentioned as a critical component of the analysis, helping to confirm trade entries and exits based on its sensitivity settings and the signals it generates on the chart.

💡Fibonacci Retracement

Fibonacci retracement is a technical analysis tool that uses horizontal lines to indicate where possible support and resistance levels might occur based on prior price movements. The video references using the Fibonacci retracement tool to identify the $3500 resistance level for Ethereum, illustrating its relevance in predicting significant price points.

💡Bull Market

A bull market refers to a financial market condition where prices are rising or expected to rise. The script discusses Ethereum's performance within the broader context of a bull market, suggesting a positive outlook for Ethereum's future price based on the pattern of ascending triangles and the sequence of higher lows and higher highs.

💡Profit Taking

Profit taking is the act of selling an asset to realize gains after its price has increased. The video suggests moments where traders holding Ethereum might consider taking partial profits, especially after a significant price rally, to secure gains and manage risk in a volatile market.

Highlights

Ethereum has reached our target price of $3,500

The trade over the last 20 days has been extremely successful

We predicted a 70% price increase for Ethereum by May

We hit our target price much earlier than expected

I personally attribute this strong rally to anticipated staking rewards, Ethereum 2.0 hype, and speculation around a possible Ethereum ETF

As long as we hold the current level around $3,270, the short-term 4-hour chart still looks good

Even a pullback to $3,000 would keep the daily uptrend intact

For those with high unrealized profits, now could be a good time to take partial profits around $3,500 resistance

I remain extremely bullish on Ethereum for this bull run

I personally use Phemex exchange for buying and trading Bitcoin and altcoins

We have failed to break Ethereum/Bitcoin resistance several times now, but I still expect the breakout in coming weeks once Bitcoin tops

Historically, once Bitcoin makes an all-time high, money tends to rotate strongly into Ethereum and altcoins

I think those still bearish on Ethereum will be extremely surprised by the size of the eventual Ethereum/Bitcoin breakout

We have formed a massive ascending triangle on the ETH/BTC weekly chart over multiple years

If we break the upper resistance of this massive triangle, I expect a huge breakout for Ethereum against Bitcoin