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How low will ETH drop? An overview of this and last weekFirst of all I would like to take a moment to say thank you to all of my fans and followers! It is hard to believe, but DataMoney already have over 500 followers! Our community is growing and everyone is excited to see what the future holds! Fun fact - If my post says that ETH will go up, I get 3x more views and 3x more likes compared to neutral or price drop posts 😅 As many of you have noticed, there were fewer posts last week. That is mainly due to 2 reasons: 1) It has been just silly busy the last couple of weeks here. You must have noticed this in my last posts. 2) Last week was a slow-burner. Basically, after you have read my last Monday's and Tuesday's posts "Will ETH follow H&S formation? Get ready for price action!" and "ETH is going down. Opportunity to short", you already had all the info needed for the rest of the week. Macro and Micro level data remained more or less the same for the rest of the week. Market stalled and many traders just took 4-5 day long weekend off 😎 A quick recap On Monday, 15th March, we confirmed that ETH is forming a Head and Shoulders pattern and it seems that strong resistance has formed around $1750 and $1730, we were getting ready for price action! On 16th, we draw to attention a possible worst-case scenario of a stale market. Where too many constraints prevent the price from moving up or down, it can make the rest of the week a bit difficult by pushing ETH into limbo. Unfortunately, that is exactly what happened. On the 18th we went for a long weekend with "kumbaya" till the market drops below 1700 at the start of this week and here we are. This week Both Macro and Micro level data suggest a further drop of ETH price🔻 It is unclear at the moment what will be the bottom, however, $1600 is the #1 suspect and it all depends if data would indicate any strong support formation. Although we all know that crypto markets are unpredictable, current data suggest that this pattern will continue for the next 2-3 days. In case of low volatility, we will remain at the current price range and in case of high volatility, we can end up anywhere on the price chart. As for today, we are looking at standard Mirco pattern breakout either up, if it breaks up and forms support at ETH $1660, OR down, if it breaks below $1620. The latter is more likely in line with the declining H&S pattern at the Macro level. Today's technicals: Position is Short Forecasted highs at $1660, $1690 and unlikely $1710 Mid-way point at $1780 (Yes, ETH is well discounted and at the moment it seems that anything under $1660 is a good buy, unless it drops to $1600 😉) Forecasted lows at $1640, $1600 Have fun trading! 🤑 If you would like to have early access to DataMoney ETH technical analysis, write "I am a DataMoney fan! ETH will go up!" or "I am a DataMoney fan! ETH will go down!" in the comments down below.
Short
by DataMoney
3
Happy long weekend! Will ETH continue to stall?It can be a bit demotivating to do ETH technical analysis this week. Price is dictated by BTC, ETH in limbo and both macro and micro level data is just gone stale. For those who are new to my posts, here is a quick recap of the last 4-5 days: - March 13-14th price movement indicated ETH moving into Head and Shoulders pattern. - Around March 16th ETH should have reached the low of ~$1700 to start formin the right shoulder - Volume, demand and volatility slowed down and for the last 2 days market remained stale (~1.5% price movement) - Many daily traders are taking a long weekend off as 1% profit or loss is not worth the time (compared to 8-12% profit we achieve daily on regular days*) - If H&S pattern will continue, it is very likely next week will start at around $1700-1650 point. - There are a lot of speculations regarding M1, it's effect on all global markets and if it will drive all crypto price up, however at the moment there are no clear indications of a significant rise in the next day or two. Of course, noting is set and stone in crypto markets and things can dramatically shift any second. You will need to decide for yourself if this long weekend is worth being glued to the screen 😄 Today's technicals: Position is Long Forecasted highs at $1860 & $1900 Mid-way point at $1820 Forecasted lows at $1760, $1730 Have fun taking your time off! ☀😎🍹 I am off for the next few days, see you on Monday! 🏖
Long
by DataMoney
2
How long will ETH remain in limbo? What's next?Tuesday passed uneventfully. As per my recent post "ETH is going down. Opportunity to short", we have explored current market trends and "what if" the worst-case scenario with the market dwelling into limbo. ...And the limbo is what ETH got into. Macro and Micro level data remain almost identical to yesterdays. At some point market will have to make a move, the key question remains - up or down? At the time of doing ETH technical analysis and posting market data to our Data Money early access community, ETH was at $1789 with the position of Neutral, the recommendation to Short as the market was more or less 50/50. Since then BTC dropped dragging the whole market 0.5% down. Although the price is slightly down, it seems that did not affect the market at all. Market data and price action probability remain more or less the same 50/50. Volume currently just below the recent average indicates that demand is dropping, the market is consolidating and ready for price action. What does all of that mean? Simply put - the situation is the same since Monday. The market is ready for action, just waiting for someone else to make a move. When everyone is waiting for someone else to make a move - no one moves, low volumes, low demand, low volatility and unfortunately low to none profit for daily traders. If you are interested to understand why this happens, check out my previous post below where we explored "How and why do we put ourselves into the numbers box?". Today's technicals: Position is Neutral (Many of us are shorting since $1789, but now and then market indicates more or less 50/50) Forecasted highs at $1830 & $1860 Mid-way point at $1812 Forecasted lows remain at $1730, $1700 If this is stressing you out, just set a couple of notifications in case the price move above $1830 or below $1730 and just forget it. Enjoy your day off! 😎🍹
by DataMoney
2
ETH is going down. Opportunity to shortYesterday's price action unlocked profit opportunities for Data Money followers to make ~8-12% profit. Great yields for executing 2-3 trades per day, congratulations on your wins! 🏆 The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today. Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑 Today's technicals: Position is short (if you can keep your eyes on the ball, long and short as yesterday) Forecasted highs at $1830 & $1860 Mid-way point at $1815 Forecasted lows at $1730, $1700 Have a great day trading! 💰 If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
Short
by DataMoney
1
Will ETH follow H&S formation? Get ready for price action!First of all, I would like to start with a sincere thank you to all of my followers. I have received a ton of messages from people asking what happened and why all of the sudden my posts stopped. I am well and healthy, thanks 🙏 Just had a really busy week and in situations like these, we sometimes have to make a hard call on what to prioritize. Our Data Money community continues to grow and is active regardless. I am very pleased to see that people are continuing to make a profit albeit TA's turned to be a more difficult part. Back to business Crypto markets have been very active last weekend and we have an exciting start of the week. Macro-level data suggest a formation of head and shoulders pattern, it is likely that we will see nice price action throughout the week opening opportunities for quick profitable long and short opportunities. At a micro level, at the moment price is struggling between ETH $1750 and $1730. ETH price has to break below $1730 to continue on H&S pattern. Please keep in mind that ETH $1750 is a psychological number and $1730 formed strong support next to it. It may again put ETH into a box of "too many constraints" that can send the market into another few days of limbo. Today's technicals: Position is neutral . Our recommendation is to long the dip and exit before it hits the top for H&S continuation. Data Money fans with early access already know that we have opened long positions at ~$1730 this morning 💸 Forecasted highs at ETH $1830 and unlikely $1890 Mid-way point moved down to $1820 Forecasted lows at $1730, $1700 and a must buy $1660 Have a great start of the week! 🤑 If you would like to have early access to Data Money ETH technical analysis write "I like Data Money! ETH price will go up!" or "I like Data Money! ETH Price will go down!" in the comments down bellow 😉
by DataMoney
5
ETH inverse H&S bottom-out and we are back to the bull market!Last week was intense. After ETH hitting the bottom at $1293, there have been many concerns about what direction will the market take. Will the early 2018 crypto disaster repeat itself and the price will just keep falling? Will ETH have a sharp recovery straight back to $2k? All this uncertainty pushed ETH into a situation of too many constraints. As we explored in my recent post "Friday FOMO! How to make profit shorting ETH?", the price recovered and signalled a steep decline into the weekend. The signal was of an inverse Head & Shoulders pattern and required a sharp decline to complete. After US markets opened on Friday the 6th of March, there has been a sudden change of hearts and instead of a ~10% decline, markets went 16% up! What does that mean? Why does that matter? This sudden change of hearts not only changed the market pattern, it changed the macro data! Besides a minor dip last Friday, ETH has been consistently rising and consistently overpriced above the Mid-way point for over a week! That should confirm that we are back to the bull market and we could be in for a consistently rising price this week. We all know that past performance does not guarantee future returns. There is no such thing as a bad price, just trades at profit or loss. Usually, anyone fighting against the market loses. Following data and market trends usually brings profit. Let's stay on the profit side 😉 Today's technicals: Positions is long Forecasted highs at ETH $1760 and $1800 Mid-way point at $1600 Forecasted lows at unlikely $1600 and $1550 Have a profitable start of the week! 🤑 If you would like to have early access to my ETH TA's write "I would like to have early access invite" in the comments down below.
Long
by DataMoney
8
Friday FOMO! How to make profit shorting ETH?And here we are again, after a restless week of persuing profits we enter a Friday FOMO. That magical day of the week where traders are extra pushy to close the week with some profit. What does that mean for you and me? Let's take a look at some market data. 🕶 📊 Monday (1st of March) the start of spring and the start of the week with its all-time-low at ETH $1410. For the major part of the week, the price was slowly recovering from last weeks "grand slam". Although this week's high remains at an uncontested $1657, the "average" price for this week remained around $1550. We have explored this phenomenon with my recent post - "How and why do we put ourselves into the numbers box?". Yesterday's post "Pattern breakout. Is ETH going down?" briefly touched on the opportunity for a breakout for ETH and it definitely did go down. So will the price go up or down? What does that mean for the rest of the week? Historically, crypto price on Fridays does go up. This is due to pushy traders trying to hype the market so they could close their positions at the end of the day with extra profit. One does not need to be a prophet to foresee that it is likely to follow the same pattern today. US open (~1:30 GMT) is likely to push the price up and once positions are closed (around 5-7pm GMT) price is likely to continue to drop 🔻🔨 Today's technicals: Position is short (Data Money fans with early access already know what to expect with the likely pattern for today and this weekend!) Forecasted highs at ETH $1540 and unlikely $1600 Mid-way point moved up to $1510, meaning that it will be easier for pushy traders to move price there. Forecasted lows at $1400, $1380 and likely to go all the way down to retest ETH $1350! Have a happy Friday of trading! 🤑 If you would like to have early access to Data Money ETH technical analysis - write " ETH is going down and I know how to profit " or " ETH is going down and I want to learn how to profit " in the comments down below. All other comments are also welcome, don`t be a stranger 😎🍸
Short
by DataMoney
11
Pattern breakout. Is ETH going down?Today's post is short and sweet - nothing much has changed since yesterday. Today's pattern, however, is promising a breakout. Macro data says up, micro data says down. It seems that a psychological number of ETH $1550 is a strong anchor and the price was quite stable around that price point ever since Monday! From my yesterday's post many of you have learned why the price is in such a limbo at the moment. Volume is slightly higher compared to Tuesday and if you will look a bit closer at the numbers - these are additional sell orders. That means that demand is not picking up. Friday may bring a bit more sense of urgency as traders will try to push to close the week with a profit. 💸 Today's technicals: Position is Neutral (Data Money fans with early access already knows that we have been shorting since ETH $1570 this morning 🤑) Forecasted high at ETH $1680 and $1700 Mid-way point at $1490 (indicating price recovery) Forecasted lows at $1490 and $1470 Have fun trading! 🏓 If you would like to have early access to Data Money ETH technical analysis, write what is your favourite Data Money ETH post and why with a link in the comments down below! 🙌
by DataMoney
How and why do we put ourselves into the numbers box?We, humans, tend to make a lot of interesting decisions. Some of them are good, some of them are bad and some of them are just what we currently see in the market right now. 👀 Generally, there is a lot of great market data out there. There are a lot of great indicators, support, resistance and so on. Then we add some more fancy properties into the market where "previous resistance" becomes a "new support". We draw wedges, triangles and seek to foresee the next market move! Now, all of that is great. We are super smart and that can never backfire - right? Welcome to the land of analysis paralysis and too many limits. A wonderful place where every move faces too much resistance. A "box" where the market can be over-sold and over-bought at the same time. A "box" where the price is struggling between current, past, and imaginary support and resistance. A "box" where the market puts itself into limbo just a day or two after celebrating getting out of the last limbo (last Sunday out and Monday back in). A "box" where a psychological number like ETH $1550 becomes support, resistance, target and major barrier at the same time. Let's just sprinkle some "good-will" actors into the mix, who are plotting for "bull-trap" and "bear-trap" and hey presto - here we are! Today's technicals: Position is short Forecasted highs at ETH $1620 and $1660 Mid-way point at $1470 (basically anything above $1470 is overpriced) Forecasted lows are loads! Not to overwhelm you I will just say - $1470 and $1400 Have fun trading! 🤑 If you like my ETH technical analysis and would like to get early access to it write "I think inside of the box" or "I think outside of the box" in the comments down below.
Short
by DataMoney
2
Is 2018 repeating itself? Will there be an alt-coin season?First of all, I would like to take a moment to thank all of my fans and followers! 🏆 It is mind-blowing that about 1 thousand people read my posts every day and Data Money has already over 400 followers! 📊 And sincerely thank you to all of my fans who write to me. It is amazing that so many of you got interested to use my analysis for building trading bots! 🤑 In my last post "Sell-off! What will it take to find the new bottom?" we explored the recent downtrend and "What will it take to find the new bottom so that the market could move on?". Sometimes it does happen that some posts are crazy accurate - it is a bit scary - maybe Data Money is a prophet? 😂 "Blitz dips" are over and the price has settled for a few days to up demand. We have hit a bottom of $1300 and so far this bottom was not contested (yet?). So, what happens next? Is the bear run (maybe just a walk) over? Is the price going to rise or fall? Where some people look for prophecies - Data Money is looking at data for insights 😉 Current ETH market data indicates that there will be strong resistance at ETH $1550, many of you with early access already know that demand picked up and we have been in a long position since $1440 this morning. If the price breaks through $1550 point, it is very likely to keep rising. This could be early signs of turning back to the bull market. If the price bounces off that resistance line, it should be coming back. That's a great opportunity to short and double your daily profit! If the price retrace to $1440 you potentially could close your shorts. Profitable longs and shorts in a single day - double the profit! 🤑 If the price keeps dragging down - we could be in for another bear treat. Regardless of the micro price actions - the price has settled over the last few days and opened doors for demand to pick up. Current macro data is what matter. It will ultimately define the course of this week. We should have our answer before EOD (6pm GTM). Today's technicals: Price is likely to rise up until ETH $1550. Many of you with early access already taken advantage of this! Position is Long Forecasted highs at $1550 Mid-way point at $1500 (anything above this point is considered overpriced) Forecasted lows at $1350, $1315, $1300 and $1270 If the price drops under $1300 with ease, we could be for further discounting. Have fun trading! 💰💰💰 If you would like to have early access to Data Money ETH technical analysis, write "Alt-coin season is coming - price will rise!" or "2018 repeating itself - price will fall!" in the comments down below.
Long
by DataMoney
2
Bitcoin - An outlook for the future and some thoughts Hello everybody, This is my first post and I would like to give you some deeper thoughts on Bitcoin for you to think about and I would love to talk with you guys and share some knowledge. Generally I am a Scalper, Daytrader mostly in Forex but also in Cryptos and Stocks because what works on one side might work on the other... But we are not here to think but to act and let the market tell us what to do according to our rules. The tricky part is that we as retail traders have a lack of deeper insights and knowledge which only the big guys got way ahead of News and of us. So lately with Bitcoin we see a similar thing. At first this was a great new tool for enthusiasts and others. Later more and more people jumped on and well... we all know the bubble popped and a massive downtrend took place. But I want to tell you not what you already know but more thoughts about the background of Bitcoin. So it seemed like a great opportunity but what now? Well, actually the answer to this might be a lot deeper than what you would expect. Bitcoin was the first Cryptocurrency and look at it now. Go to coinmarketcap or others and look how far we´ve come. But what for? Did you really think Bitcoin would make you rich? Maybe it made some people rich who invested early enough but does this change the world? Look at it now? People must ask themselves if it really is reliable? What about all the other Cryptos, Blockchain technology and so on? People might think: "Well, maybe the time wasn´t right or maybe Cryptos aren´t ready for the public yet"? No. There is a reason why all of this happened. I am really no friend of speculations or some fancy theories but there is clear evidence if you take a deeper look at it that Bitcoin wasn´t made by some mysterious Satoshi Nakamoto who nobody ever saw or worked with. The people who worked with "him" couldn´t proof that and besides that it´s highly questionable how someone could´ve done that without others ever finding out his real identity. But these are just speculations too. It get´s interesting when you think about something else: What if the NSA or employees of the NSA or other "organisations" have created a workplace and concept in 1995 which is exactly the concept of blockchain and Bitcoin ? What if this was made by the real powerful people in the background to shift society to something new which is even easier to control and which will be loved by society just because people are mostly lazy, wouldn´t get educated about that matter enough and love it because it was easy to use? Don´t people love using their creditcards and max them out? Why? Because it´s easy for them and because nobody cares ?! What if people, even the smartest ones, get convinced that blockchain and other following concepts will be freedom and are anonymous while the real "owners" and "creators" laugh because it was just too easy to convince everyone to use it. What exactly has changed since the roman empire? Bread and circuses: latin: "panem et circenses"... It is always about ruling, dominating and dividing society so that they are way too stressed to think and worry about themselves and don´t have enough time and effort to search for the real people who make their lives so difficult. We are highly developed technologically and you could think that it´s harder for them to rule because people would realize today. But it just got easier !!! People don´t use that technology to get freedom in fact they enslave themselves even more. But what has that to do with Bitcoin? Well, I claim that Bitcoin was made by those exact people to initiate a "revolution" to society which leads to something else: No freedom and even easier mass control. If you don´t wanna go on reading from here that´s fine but to trade and to understand the markets you really need to understand the real motives. So Bitcoin skyrocketing into this world happened right after the 2008 financial crisis which is another big theme to talk about for that matter but it is highly suspicious that we still don´t know who created it officially and so on. People get told that this is for the people and even sceptics get convinced as long as they get high returns and as long as they can use it. But what about the future? Well, my theory is this: Bitcoin already made history and that is important because in economics there are two outcomes for this: Either Bitcoin (the first business of it´s kind) stays and will lead the world in that area or other Cryptos, Ideas (other businesses) and so on will follow and put Bitcoin out of business because they are better. So what we now see is the second outcome already going on. Ripple (XRP) and others making mindblowing progress on a much bigger scale right now. Why? Because banks are joining the team. Why? Because you wouldn´t believe that the big guys just get overrun by some tech guys and acceppt that they no longer control the financial systems? All for freedom for the people and so on? It´s just highly unrealistic... ok, but what about Bitcoin? Can we still trade it? Where does it go? Well, of course we can still trade it and it´s even better now because it gets highly manipulated like every big financial asset and that´s predictable because banks need to make money and we can follow the path just like I do for example with Forex and Stocks. So to be more precise: I am not here to think and give some strange predictions but my guess is this: I trade according to my strategy and I don´t care if Bicoin goes in a circle because I follow the Banks but why should we see another rally to 20000$, or even 50.000$ or 100.000$? It would not make sense because others are taking over and will scale up and be better for the user and investor in terms of what I described above. So everything is possible (which is the most important thing in trading to know and respect) but it´s really unrealistic because it´s not in the interest of the big guys. What if Bitcoin was only the first step of that big puzzle and now comes the second piece (step). Banks now have a foundation to max. out their profits in another area, transactions will be even faster, cheaper for users/investors and the transactions are all online and CAN be tracked down no matter what anybody claims. Imagine the bigger geopolitical strategies and interests of countries like the USA and China. China is already controlling it´s people by mass surveilance and similar things and this is just another tool for them. The USA and it´s agencies are happy when more and more people will use this modern technology because it´s just easy for them to see what they are doing. It´s all online ! I can go on for hours. So my guess is that we might see a even bigger range. Because a huge range like you have it in the Forex market can be highly manipulated and create huge returns for the banks who are already in trouble. In fact banks are doing better than in 2008 and the next crisis is just ahead of us but other financial areas are already maxed out and they always need to make profit. Another factor is because Bitcoin is still leading the crypto world (even though others get closer) that we will be still able to trade Bitcoin for a long time in the future but that it just gets less interesting and there is nothing that backs Bitcoin so it´s value could go to 0 over time. But that´s a wild guess. The more realistic guess is still that we will have a huge range which will happen in the next 6 months and is tradeable for a long time until the banks decide that it´s not anymore. Our economy is highly based on creating debt when creating money and this is and always will cause other financial crisis which will just get worse over time. The big guys know that and they mostly profit from it but even they know that this cannot go on forever because people will freak out over time. So they (being smart) create a new system of how we will use money in the future and sell it to us literally as the new freedom and people will literally buy it and everything will be fine until some more 50-100 years and they have another better idea. The show must go on. My guess for Ripple also is that there won´t be a massive rally in % like with Bitcoin but still a huge possibility for long term investors. Also take a look at this documentary because it is backed with facts and explains what I just tried to tell you: www.youtube.com I hope that helped you. Don´t be too harsh with me and yourself and comment if you want. Cheers
BITFINEX:BTCUSD
by PaperChazeTrading