There are 8 Major Harmonic levels on any chart. Each level represents the hardest and most rigid support / resistance form when prices reach those levels. They should be the area of the most difficult value to cross above or below. Where it is currently on the market Ethereum is the last position. The final castle. It is Alamo and Thermopylae.
The eighth major harmonic
The eighth major harmonic is the last major harmonic. Below this price level there is an increasingly weak support – in fact, here it is not an important support. But this represents a fund. The support structure here is enormous – the unfounded comments of Vitalik Buterin have never been seen by the cryptomercati that have never seen exponential growth. Cryptocurrencies are a new resource. They are slaves of the same consistent and consistent patterns of time as the thousands of years of grain markets we have. The Cryptos have not even entered the nascent phase – exponential growth has not yet begun.
Not even the continuous negative news and the fear of this market. When all you hear is fear, frustration, anger and regret, take note. There are new and veteran traders in this market who have gone through significant emotional trauma and a psychological hell in this market. Some have looked at their wallets every day and have seen them fade – lower and lower. Some look at the balance of their wallets on their phone hoping for a truce. Some converted – perhaps too late – to shorting the rallies and getting drunk on expectations of quick profits. Some have been supporters of cryptocurrencies, but now they have become adversaries.
The key word here is capitulation. The price represents it and the same applies to the sentiment. And it is the one that represents the eighth major paraphernalia: extreme conditions of overcapacity. There are strong considerations that identify a background here, a final ending:
- New Moon Phase.
- Annual levels on the 1/8 Major Armory.
- Gann Arc as a support.
- 6/8 ° Pivot in time.
- Angle of Gann supported in Square of 144.
- Parabolic fall – this is important. A significant portion of the Altcoin and Ethereum markets show a parabolic fall – an explosive move and a strong clearance sale
- Gann cycle 225 days. The price is exchanged in this cycle. Gann wrote about this cycle that creates possibilities – it must be interpreted as the 135-day cycle, which says: It can be the last low or, more typically, a bass ending a basic pattern. Always look for a change of trend. Quick moves can start.
What does this mean?
If we compare the current oscillations of Bitcoin, its technical aspects and cycles with those of Ethereum, we have evidence of a low primary swing. Look for a significant increase to start in the next 7 trading days.
All markets are facing this trend change – all markets are facing a violent trend change – not just encrypted.