Ethereum is dead to me, but as a trader, I cannot deny the stupidity of these extended terms. As a trader, I cannot allow my disdain for the stupidity of the Ethereum team. As a trader, I cannot allow my opinion to influence my analysis. I really, really don’t like Ethereum. But when I as a trader see a stupidly simple entry in a stupidly stupid cryptocurrency, I have to take it. I have to take it.
In terms of my own trading and analysis, I’m not particularly interested in news about which country bans cryptos, or who cheated on whom, or which “whale” (God, I hate that term) doing what with whom and in what timeframe . That is why Gann and FinAstro (financial astrology) are so much more liberating and free of headaches. Using Gann Theory means looking at the world a little differently and certainly looking at price promotions differently. Gannalysts consider time cycles and astronomical events to be the real cause of trends and changes in price movement. Things like news and mood are the result of time cycles and astro events. I wrote about the crazy short term buying opportunity in Ethereum just last week. The option to buy here remains, but I want to expand this analysis using financial astrology. Again, I will use Optuma by Market Analyst for this analysis.
I’ll give a quick rundown of what you’re looking at:
- The horizontal green lines represent the syndonic lines of the planets Mars and Saturn. The longitudinal lines of these planets are then converted into a price chart. Ethereum appears to be sensitive to these two planets that combine syndonic lines. The red lines represent the midpoint between the two lines. Notice how strongly these lines represent natural support and resistance.
- The vertical lines and shaded columns represent certain and specific planetary aspects. These are powerful trigger zones for price movements and trend changes.
A case for a bullish entry
Ethereum remains the most run down cryptocurrency. It clearly outperforms Bitcoin, Litecoin, and Bitcoin Cash. The pitch of this downtrend was ridiculously steep and long in duration. Look at the current daily chart. The blue highlighted boxes in the price chart and in the oscillator below (composite index / CI) show a bullish divergence. We had a month of bullish divergence on the Ethereum chart. It’s crazy. We are also establishing and forming a strong support zone over the Mars-Saturn syndonic line. In addition, we have the following three aspects of Mars right in front of us: Mars conjunct Saturn, Mars conjunct Pluto, and Mars conjunct Uranus. In previous price promotions with Ethereum, these aspects have shown a tendency to move a trend in the opposite direction. Given that we are at a low point and have seen significant anomalies, we can assume that these aspects will reinforce future countertrend movements. Additionally, and not shown, Ethereum’s weekly chart is showing extreme oversold conditions, adding more credibility to an impending reversal in price action.