ETHBTC has broken its support line, but not all is lost! If history repeats itself, it can get back above support if a new bull run starts. As I mentioned in my recent addition to my BTC chart, there's a strong chance we remain pretty flat as an entire market until the end of 2018/early 2019. This timeframe aligns nicely with where ETHBTC is likely to break back up. RSI and volume have pretty much bottomed out.
Unfortunately, the ETHUSD chart is a little more worrisome, as it is even further down from support. Definitely not one of the strongest chart in crypto right now, but for the sake of the hodlers out there, I hope this gets back into the uptrend. I do not hold a position in this coin right now, although I did briefly recently before flipping it for XRP.
This is not investment advice. I am not a qualified financial advisor. I'm just putting this chart here for future reference and will update occasionally.
-Victor Cobra
Unfortunately, the ETHUSD chart is a little more worrisome, as it is even further down from support. Definitely not one of the strongest chart in crypto right now, but for the sake of the hodlers out there, I hope this gets back into the uptrend. I do not hold a position in this coin right now, although I did briefly recently before flipping it for XRP.
This is not investment advice. I am not a qualified financial advisor. I'm just putting this chart here for future reference and will update occasionally.
-Victor Cobra
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Last chance for a rebound in this $140-150 zone. If we fall below, the next supports are in red. The bottom target of ETH should be somewhere between $25-40.
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After breaking down from the $140 area, we have already dropped a substantial amount to the $100 psychological support area. This area really doesn't have that much technical support though, so I wouldn't be surprised if we headed down to the green zone (between $36-70). If ETH wants to die out, it could also drop to the long term support from last year (the lower green zone). That would be pretty drastic though.
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Nice little stop loss hunt below $100. Looks like we MIGHT be gearing up for the first real short squeeze in a while. The last few days of dumping has happened on pretty low volume compared to the last drop, so this was a good time for the bulls to step in. So many fake moves in both directions that trading right now just seems pretty unattractive.
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Another fake squeeze. Most likely ETH is headed down to the green zone, the top of which is around $77. We could get our "real" short squeeze before then though. Shorts are showing signs of getting antsy.
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Very close to the buy zone! This is DCA territory for anyone who's been waiting on the sidelines with extra cash. Anywhere from here down to $30 is accumulation, if you think crypto is here to stay.
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How about THAT for accuracy? We bounced PERFECTLY at the top of the buy zone at $77
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Looks like this could be THE bottom, based on this chart. We're not out of the woods yet, but it looks like the next bullish market cycle could be starting very soon. Be careful though. We need to break out above 0.041 (the previous triangle support in red) in order to confirm.
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We are very close to confirming the end of ETH's bearish cycle, and possibly the start of an even bigger rally. This is ONLY if ETH breaks back out above the red line. If that happens, we could see a violent move up, if history decides to repeat itself.
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