D4rkEnergY is back with one if his VERY sharp TA-analysis. I'm working day and night to monitor the market to help you guys to become better at trading and TA, and basically make some money!
I have found a really interesting correlation between B.itcoin and E.thereum, which I think, everyone should know about. So let's jump in.
We are here taking a look, at the Weekly ETHBTC Chart.
I've used LOG-scale to make this chart, and it's pretty clear to see, what's going on. First of all we are in an up-trending channel. We are going back and forward, from upper trendline to the support line. E.thereum was on it's All Time High June 12th 2017.
Since January 29th 2018 B.itcoin has fared better than E.thereum. BUT, according to my chart, it will soon have an ending for several reasons:
- Please pay attention to the volume bars. It's clear how the bearish volume is decreasing in height. - Also MACD is showing us, that the bears (B.itcoin) are losing momentum. - Take notice of the lows on the RSI and the price (red circles). It also indicates, we soon will have a reversal.
So WHEN will E.thereum start kicking B.itcoins behind?
Please look at the Volume Profile, and the longest node (black line) we call this P.O.C. or Point of Control, which means, that most trades has been made at this price point in the past, why we can assume, that this is also a strong support level. On top of that, you can see on the chart, there has been a lot of support and resistance at this level.
CONCLUSION
Ladies and Gentleman, when we take all the above mentioned things into consideration, we can expect a reversal, and a STRONGER E.thereum than B.itcoin from 28th of May 2018, since the P.O.C are crossing the trendline at this point!
D4 Loves You <3
PLEASE give a LIKE - Thank you SO much :)
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SO different! Same chart - but not LOG.
<3
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Bitcoin is SUPER interesting to follow at this very moment! Is this just an ABC-correction on the B-wave or is it an attempt to make a 5th EW... But hey, don't we have an EW Failure?
Please give a BIG LIKE, and I will make a new chart for you soon :)
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I promised: FINALLY! The TRUTH About BITCOIN - This Is What Will Happen Now!
I have once again been working for 20 hours - that deserves a LIKE, please <3
Really? Adding the Youtube Clickbait stuff now to your titles? I guess you need to do something when your analysis are all wrong. Keep re-drawing them lines fam. Imagine if TradingView had a success rate and not go off of daily 'likes' on a given entry...you would be probably dead last. Good news though -- I am creating a 3rd party website to track results of all top 10 user analysis's. We will see your success rate much clearer here within a few days.
skeanparty
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@deadlyeffect, hope that you'll spread the word about it later, it would be very interesting service
NewYork888
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@deadlyeffect, Excellent. That type of trading tracking will save new traders that try to make these crazy trades a lot of money potentially. Thank you for your efforts.
tenzor7
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@london55555, this trade isnt crazy. It will happen sooner or later.
NewYork888
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@deadlyeffect, This guy @D4rkEnergY Called us a "troll" the other day when we called him on the carpet on his calls (and im sure he'll do the same to you) and he then reported our posts as "violations". I certainly hope that @TradingView sees this post of yours - Im going to see that they do - I think I'm correct that he's been now banned 3 times for "promoting" his memberships etc and here he is doing it right out in the open to catch new traders. -I wouldn't mind if his track record was a great one but we all know what's going on here. support@TradingView really needs to do something about this guy for the protection of new traders.
Mungee
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@deadlyeffect, This is the one thing that should be 'spammed' in every comment section. Sign me up!
MoonShot_LLC
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@deadlyeffect, I think that is a great idea! I think that success rate is exactly what this website needs. While I think that everyone should listen to their own instincts instead of blindly trading off of someone else's recommendations, there is no harm from getting input from people that genuinely and consistently provide correct analysis. Good luck!
Russslayer
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@D4rkEnergY you still think if it follows 5th wave it will breach 7.5k. Don't you think market fear and Lack of Volume is big factor now. FA is strong now than TA. I follow TA always but it's just gambling right now in this market. Would love to know your thoughts.
streamDr
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@Russ1239, summed up nicely. Whale-on-whale action is the key driver here, TA only taking us so far before...boom...another unambiguous, clear-as-day whale-group manoeuvre utterly destroys all sensible, well thought out analysis. Result? We do NOT let the MARKET decide the price of any given asset (as would be healthy), some group decides. That makes it a gamble.
TA works well, up to a point, then it becomes a complete waste of time. And TA that vague and flimsy cannot be regarded as a true discipline. Gamble is the right word. Until (if ever) the SEC gets hold of these exchanges and the manipulation groups, it will remain a gamble because I cannot see the market growing large enough to make manipulation more difficult when it is so obviously a gamble and, sadly, no longer interesting. Only a MUCH larger market would make it less prone to pump dump manipulation. Ain't gonna happen.
raccoon4me
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AM i the only one worried about EMA50 and EMA 200 having just crossed on 1D candle for BTC/USD ?? Look to me no other option than a proper going down!