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f-73
Sep 6, 2018 7:57 AM

ETH is dead, long live ETH ;) Long

BITFINEX:ETHBTC1D
Ethereum / BitcoinBitfinex

Description

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Attractive Long trade from here in terms of risk / reward.
Falling wedge, oversold, massive divergence.

Do your own diligence, take care.

Trade active

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Comment

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Welcome aboard, gents.

Price should clear 0.029 and 0.034 in order to grant us a smooth ride.
We'll see.

Comment

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Oscillators are fine and volume is ok as well.

Now we *need* to paint a decent hammer on today close as well as a bit of luck not to repeat August, 14th failed rebound.



Good luck to everybody.

Comment

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Good move.

Now may we have a daily close a bit above 0,030 please ?
I would greatly enjoy a *morning star* here.

Comment

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So far so good.
Yet we'll have to carefully wait for daily close.

We'll *should* keep over that resistance ( see yellow circle ) tonight.



You know what it means, right ?
See on left.

Comment

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At (wedge) resistance.



20% gain already.
Place a SL, sit and wait.

Comment

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By the way, we got a wonderful morning star on volume, as you may notice.
Now patience needed.

Comment

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Seemingly a descending broadening wedge.



It should be considered mere consolidation as long as price keeps roughly over 0,031 mark.

Anyway, think about risk management and place a TP accordingly, especially if you enjoyed so far the ride up from 0,027.

Long does not mean careless.

Comment

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Descending broadening wedge, just some minor adjustments.
Watch for price action on the edges of the pattern for hints.



Also watch *that candle* on 1H, a hammer on hourly close would be interesting.

Take care, good luck.

Comment

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Good luck and have a nice WE.
If you enjoyed the ride "Like" this to see further updated.

Comment

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Caution here.

Comment

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Pushing again the minor resistance which previously rejected price.



Anyway, still into a (wider) rising wedge.
We knew 0,034 was a key resistence ... patience needed.

Remember to protect your trades.

Comment

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It may play a small inverted H&S ... we'll see.
Good luck, good night.

Comment

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Come on, let's move.

Comment

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Pattern is fine, but time works against bulls.
Come on.

Comment

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Now it's very risky.
Break down of rising wedge increasigly likely.

Comment

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It's fine.



Let's move over 0,034, it's about time.

Comment

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Now we have to get rid of this rising wedge.

Comment

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Yesterday close was weak.

Price should break up the channel ( over 0,34 ) in order to resume the rise.
Mosly depends on what BTC is gonna do short term, though.

Comment

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About to make its move.



Slightly bullish bias, as weekly looks good.
It mostly depends on Bitcoin next move though.
Trend Analysis
Comments
StephMoen
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what do you think ? go up or down ?
f-73
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@StephMoen, i think ETH is awaiting BTC next move, which is likely to happen this week.
As long as ETH keeps over 0,034 is perfectly fine. It should not close under 0,033 or it will be troublesome.

However as i said eyes on BTC short term.
StephMoen
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@ft-73, Thank you
f-73
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Good move.

Now may we have a daily close a bit above 0,030 please ?
I would greatly enjoy a *morning star* here.

StephMoen
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Hi what about BTC ?
f-73
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@StephMoen, much fragile. If short term 6370$ holds it's likely to rebound towards 6600-6700$.
StephMoen
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@ft-73, Thanks
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