Ethereum Buy Opportunity, Financial Astrology Analysis
Ethereum is dead to me, but as a trader, I can’t deny the stupidity of these extended conditions. As a trader, I can’t let my disdain for the stupidity of the Ethereum team. As a trader, I can’t let my opinions sway my analysis. I really, really don’t like Ethereum. But, as a trader, when I see a stupidly easy entry in a stupidly stupid cryptocurrency, I have to take it. I need to take it.
Concerning my own trading and analysis, I don’t care much for news about what country is banning cryptos or who scammed who or what ‘whale’ (God, I hate that term) is doing what with who and on what timeframe. That’s why Gann and FinAstro (Financial Astrology) are so much more liberating and headache free. Using Gann theory means to look at the world a little differently and to certainly view price action differently. Gannalysts view time cycles and astro events as the true cause of trends and changes in price action. Things like news and sentiment are a result of time cycles and astro events. I’ve written about the insane short-term buy opportunity in Ethereum as recently as last week. The opportunity for the buy here remains, but I want to extend that analysis using Financial Astrology. Again, I will be using by Optuma by Market Analyst for this analysis.
I’ll do a quick rundown of what you’re looking at:
- The horizontal green lines represent the syndonical lines of the planets Mars and Saturn. The longitudinal lines of those planets are then converted onto a price chart. Ethereum seems to be sensitive to these two planets combines syndonical lines. The red lines represent the midpoint between the two lines. Observe how strong these lines represent natural support and resistance.
- The vertical lines and shaded columns represent particular and specific planetary aspects. These are powerful triggers zones for price action and trend changes.
A case for a bullish entry
Ethereum remains the most beaten down major cryptocurrency. It is significantly outperforming Bitcoin, Litecoin and Bitcoin Cash. The pitch of this downtrend has been ridiculously steep and long in its duration. Consider the current daily chart. The blue highlighted boxes on the price chart and in the oscillator below (Composite Index/CI) show bullish divergence. We’ve had a month of bullish divergence on Ethereum’s chart. It’s nuts. We are also basing and forming a strong support zone on top of the Mars-Saturn syndonical line. In addition to this, we have the following three Mars aspects right in front of us: Mars conjunct Saturn, Mars conjunct Pluto and Mars conjunct Uranus. In past price action with Ethereum, these aspects have shown a tendency to move a trend in the opposite direction. Considering that we are at a swing low and have observed significant divergence, we can expect these aspects to amplify any future countertrend move. Additionally, and not shown, the weekly chart of Ethereum is showing extreme oversold conditions and yield more credence to an imminent reversal in price action.