First of all, I am a fan of Ethereum. I've been a fan for about 2 years now.
However, to be real, I do not see any significant events like Ethereum Enterprise Alliance conferences set in stone yet.
Additionally, "Due to ongoing network instability, we've disabled Ethereum deposits/withdrawals. We'll enable once we know the network is functioning properly.Posted by MobyDick at 2017-06-22 17:50:3" is a strong bear sign.
We need a metropolis release, blockchain conference, or singificant EEA announcement for a strong bullish FA signal.
Now lets goto TA.
Just a few days ago, the price crashed through the 4 hour cloud. At least 95% of the time, it goes below the 4 hr 200 EMA and then bounces up and down on the 200 EMA line ~.108 for several 4 hour candles.
So far, I've observed a few bounces on bottom side of 200 EMA and then one big fakeout breakout toward the top of 4 hour cloud (which i thought was pretty unreal).
The fakeout breakout we observed hardly ever happens...especially if there is no significant news.
Anyway, I'd say we have 3 potential targets and one other possible pattern:
Target 1. Bounce on or around 200 ema ~.108
Target 2. ~.0925 fib zone
Target 3. .0865
Other possible move: 4 hour candle will have a pump and try to squeeze between the cloud tail (where cloud is thinnest). If it does this, I'd still expect price to fall quickly after.
.0865 falls outside of the latest pitchfork, but I'd still say its a 50/50 possibility since Poloniex has not updated their status.
The safest target is around or before it hits 200 ema. But if you want to be bold go for T2, T3. I certainly believe eventually in the next few days we will see price bounce below 200 EMA, but it may bounce up and down before it hit 200 ema or goes below.
However, to be real, I do not see any significant events like Ethereum Enterprise Alliance conferences set in stone yet.
Additionally, "Due to ongoing network instability, we've disabled Ethereum deposits/withdrawals. We'll enable once we know the network is functioning properly.Posted by MobyDick at 2017-06-22 17:50:3" is a strong bear sign.
We need a metropolis release, blockchain conference, or singificant EEA announcement for a strong bullish FA signal.
Now lets goto TA.
Just a few days ago, the price crashed through the 4 hour cloud. At least 95% of the time, it goes below the 4 hr 200 EMA and then bounces up and down on the 200 EMA line ~.108 for several 4 hour candles.
So far, I've observed a few bounces on bottom side of 200 EMA and then one big fakeout breakout toward the top of 4 hour cloud (which i thought was pretty unreal).
The fakeout breakout we observed hardly ever happens...especially if there is no significant news.
Anyway, I'd say we have 3 potential targets and one other possible pattern:
Target 1. Bounce on or around 200 ema ~.108
Target 2. ~.0925 fib zone
Target 3. .0865
Other possible move: 4 hour candle will have a pump and try to squeeze between the cloud tail (where cloud is thinnest). If it does this, I'd still expect price to fall quickly after.
.0865 falls outside of the latest pitchfork, but I'd still say its a 50/50 possibility since Poloniex has not updated their status.
The safest target is around or before it hits 200 ema. But if you want to be bold go for T2, T3. I certainly believe eventually in the next few days we will see price bounce below 200 EMA, but it may bounce up and down before it hit 200 ema or goes below.
Comment:
4 hour stoch rsi says we should be going down a bit more in price. 1 hour stoch rsi says we already hit oversold levels.
Comment:
We might see 4 hour candle push between the tail of the cloud, and push higher in the next 4-28 hours. With that said, when price does that, it usually goes up quite a bit then drops just as much as it went up. You guys do whatever you want. Either go long at a low price or short somewhere around the top of cloud. I personally think eth/btc price will fall and push downward toward 200 ema - ~.108.
Comment:
Recent bearish tk cross on 1 hour, bearish tk on 4 hour, stoch rsi on 1 hour says it has a little more to go down before it resets for a bounce. I'm going to take profit on my short soon and sit out because we might see it push through the cloud tail on the next couple 4 hour candles. Moves like that go up and then back down usually. Suffice to say the upward momentum is weak and seems to be artificial. I think price will be going sideways or downward. News/Fundamentals to me say it is bearish neutral. Other analytics that I will not mention say Ethereum is going down. I'd say we are in a mildly bearish situation.
Trade closed: target reached:
Closed short at .114, price is now at .112 btc/eth,
reward was about 2.5-3%, if i held a bit longer..ah well I'm happy. Looks like we are going to be near 200 ema or passing further down.
reward was about 2.5-3%, if i held a bit longer..ah well I'm happy. Looks like we are going to be near 200 ema or passing further down.