ETHUSD (15min) return to new highs by 5/22?ETH looks poised to continue sideways and slightly bearish for next few days
ETHJPY
Ethereum broke downSeems like the entire crypto market is in heavy correlation. This is ETHEREUM INDEX! Find similiar structure on ETHUSD chart and trade accordingly.
Same structures on BTCUSD, XRPUSD and ETHUSD. So all this applies to BTC as well.
At any case, we have enough DM qualifiers to define this as VALID and GOOD breakdown.
Max where price can go it is descending trendline and pivot (red line) retest...
Breakout projection points exactly where we will end!
PS When you trade use only the most recent price action levels. It is irrelevant what price did centuries ago!
This is my viewpoint and no financial advise.
ETH is Getting Tight! - How to TradeETHUSD is currently getting squeezed between several major Daily EMA levels. These being the 100 and then higher up 200 EMA which are acting as major resistance. Then we have the 50/20 DEMAs which are acting as support.
These Daily EMA's have not been this tight for several months. Which once there is a close above or bellow these levels, it is generally a signal of a breakout.
My Plan:
With ETHUSD sitting just above the current support level, I have entered a small spot long with a S/L at a lower low.
However IF ETH were to break down below the 183 I plan to swap this for a short with a primary target of ~155.
IF the 20/50 DEMA continues to hold and we see some upward movement, I plan to add to this position with a close above 191 and then again at 197.
From there I would likely take some profit at the trendline around 205 and re-evaulte whether I think ETH is about to breakout or not.
I will update this idea as time progresses.
Wish you all the best of luck!
Ethereum 371 Target in SightThis analysis above entirely based on time based fib extensions and trend based extensions.
Time based and trend based extensions use historical data to plot Fibonacci Levels rather than traditional Fibonacci levels which are just percent levels between two points. Both are extremely useful however I have found trend based levels to be more helpful in a trending market.
The chart below shows how these levels were created:
As you can see, the .618 levels marked as a perfect intermittent target which was hit successfully.
Continuing this method of analysis, mixed with a few major trend lines, 371 on Jul 30th as a perfect target for this wave.
At the moment Ethereum is facing major trend line resistance at 320.
If ETH is able to break through this level, 371 would be a very viable target.
My Plan:
Mixing this exact method with additional Fibonacci fractals, the ideal entry point for this move would be 285.
Therefore I am keeping myself from entering a large long position until the 320 trend line is broken OR Ethereum retraces back to the 285 level and finds support before July 30th.
We already have one perfect target. Lets see if we can get another!
I hope you all found this analysis interesting and maybe even helpful.
I wish you all the best of luck!
A Different Perspective with Line ChartsLine charts not only provide a cleaner version of what your are trading, but a different perspective.
The chart above displays my take on ETHUSD using the 1 hour line chart which is one of my favorites.
While comparing this to the candlestick chart, you will see that this provides a much cleaner and maybe even clearer analysis of what the market is doing.
The chart below displays both trendline created from both so that you can see the additional noise created by the wicks.
Taking a closer look at the published chart above, you may notice a pattern of ETHUSD hitting intersection points of trendlines created on the hourly timeframe.
IF ETHUSD would continue to do so, we could possibly get a pattern similar to the one charted above with the red arrows.
I created this pattern by assuming that we may create an ABCD correction in conjunction with:
BTC sitting on one of my major support lines
My Volume Extension PRO indicator has been giving multiple buy signals between 234 & 243 with no substantial pullback
A major intersection is coming up
We have yet to create a Lower Low
ABCD patterns are extremely common in corrective waves
ETHBTC looks extremely bullish
Thank you all for reading & I wish you the best of luck!
cheers!
It's Time to Look for SupportCorrections are needed for more upward movement :)
The last several weeks Bitcoin has seen amazing price action while Ethereum has been lagging behind.
Finally Ethereum is making moves! Just not in the direction many hoped..
Over the last 24 hours, Ethereum has been knocking out support trendlines one by one. Creating nearly an 8% drop from its local high of $175, and smashing through one its vital support trendlines.
The break in these trendlines in combination with the Bitcoin price action has led me to believe that we may be starting a correction wave .
If this is indeed the start of a correction wave , I expect further breakdown to follow.
Currently most oscillators are bottomed or overextended on lower timeframes. Therefore we may get a little upward movement to restest the recently broken trendline.
My plan of action:
I am hoping to get a small short entry around 167.
Currently my first target will be 154 followed by the Harmonic Anti-Alternative Shark completion at 142.
Long Term:
Until the bottom major trendline is broken. I see no reason to turn full bear. The crypto market has seen quite the turn around since the bottom.
Just remember:
Corrections are needed for more upward movement :)
ETH Daily Candle BreakdownFor those of you following my ideas recently know that I am very bullish on ETH. This is primarily based on my previously conducted Volume study. link below
That being said, Ethereum just closed a daily candle below a multi-week trendline. Just about 2 weeks after the VPSI showed complete buyer exhaustion on the daily at about $250.
These signs lead me me to believe that IF ETH fails to reclaim this trendline, a larger pullback may occur within the next couple days.
Overall I wish to remain bullish on ETH.
Therefore posted this as a Long, and have shown possible support levels on the chart above.
Be sure to check out my Ethereum Volume Analysis on why I think the bottom could be near & my Long Targets!
I hope you all found this idea interesting and maybe even a little helpful!
I wish you all the best of luck!
Clear buy signal on ETHWhat you wanna call it ?
Adam&Eve? or maybe H&S bottom
anyway it's time to buy ETH guys.
ETH 'Piercing' the 5 Month ChannelFor the last 8 months, ETH has found itself in a strikingly powerful downtrend. It is now down ~86% from its all time high of $1400, and down over 30% in just the last couple days..
Currently Ethereum is piercing downwards out of a 5 month Trendline/Channel.
As you can clearly see on the chart below, this is the second time we have found the price below the trendline, however ETH has yet to break a daily candle below the level.
Bear Scenario:
IF ETH fails to close the fastly approaching daily above this line, I would expect to continue to correct to the next support around $150
Bull Scenario:
IF somehow ETH is able to succeed in redeeming this trendline, I would expect a correction upwards to at least the $230 region.
It is very upsetting to see this market in such a bearish state.
I hope this analysis was helpful to you all, and I wish you all the best of luck.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
ETH Capitulation - Is there an end in sight? During the beginning of the crypto sell off earlier this year, Ethereum was one of the highest performing alts for a great period of time.
I believe this was because during the beginning of this bear market, people were not as hesitant to take risky investments such as ICOs, AND also, many ICO developers were likely cashing out their tokens for Ethereum, all in turn, helped levitate the price.
However, as time went on, and the bear trend did not reverse, people began to panic.
ICO bag holders went running for cover, cashing out what little was left of their investment.
All mean while ICO developer whales realized it may be time to cash out their MASSIVE stacks of Ethereum while the price is still relatively high.
All in turn we get Ethereum capitulation.
Now I do not know if the end is in sight,
however, based on harmonics, we have a possible Bullish Gartley setup on the ETH/ BTC pair.
Not only that, but ETHUSD is nearing my first support level buys at 230.
Based on my trading strategy, 2 out of the 2 currency pairs show possible support around these levels. I plan leverage against my USD to start building a ETHBTC long. If all goes to plan and ETHUSD finds support, I will start purchasing Ethereum outright.
My preferred entry is right at the 1.618 fib level
I hope you all enjoyed my analysis!
Please let me know what you think in the comments below!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Time to buy ETH again?I think it's time to jump back into altcoins or at least $ETH which the chart shows a great buying opportunity, both on ETHBTC and ETHUSD chart.
If you take a look at the chart on 4 hour time frame (4h charts works well most of the time in crypto space especially when both RSI and MACD is at a low level). ETHBTC 4h makes me want to switch BTC to ETH, another reason I decided to do so is the rising wedge pattern completion point on ETHUSD 4h chart.
***THIS IS NOT AN ADVISE, I AM NOT YOUR FINANCIAL ADVISER!***
ETH is about to beat BTC hardETHBTC has likely formed a falling wedge pattern which is bullish. Entering a long position here is ideal considering the fact that ETH is easier to analyse on weekly chart. if we keep going up the MACD will certainly give us a golden cross which would accelerate the move to the upside.But, as I said in LTCBTC idea , considering the current situation that BTC -3.28% is in, I will only risk 10% of my crypto portfolio on this trade.
TRADE WITH YOUR OWN RESPONSIBILITY, THIS IS NOT AN ADVICE.
