Hello everyone !
Sorry for the lack of updates, It's been a busy couple of days.
Taking a look back at my previous chart we have progressed quite nice, however I must admit that i was surprised about the fast move up to 800, and even more surprisingly was the steep drop to the 740 area (broke my channel).
We have since then stabilized in the 760 area which keeps my bullishness intact as we keep making higher highs and higher lows.
Looking at the 4 hour chart i have expanded the channel wider, to the lower end range of the initiation of the bullish swing to create some more room as we are going more of a sideway pattern right now (what could be called healthy growth/recovery sign). I have drawn out two extra trendlines in my chart that intersect, and these are pathing the way to two possible outcomes for me, either we will continue on the long trendline following way back (larger rise) or more of a slower push (smaller vertical trendline that's touching the channel).
The green dashed area has displayed a resiliance to further decline in the recent upswing from 680-690 which is also another bullish sign that enables us to go back and re-test 800 again soon. MACD is slowly turning it's wheel in our favor again.
I see 800 happening by Monday or Tuesday next week, perhaps earlier. And by that i mean that we actually should claim that area, just like we did with 700 (not touching 800 and get bullied down like the recent attempt). This is a progress, we need to push back each resistance point step by step.
When we get to 800 i see us digging through it in a decent pace, and when we eventually break 850 we will probably smash our way up to 900.
I am fairly certain that we will see ETH above or near all time high again in a near future.
So let's talk a bit about the value proposition of ETH!
Are you a moon kid? Crypto hater? Lambo dreamer or Bubble-about-to-pop talker?
Is it all a pipe dream? Are the gains we're seeing unrealistic, is it a bubble? Will it burst? What's going on?
We need to be unbiased and understand the technology that is emerging, to be more precise - what foundation Ethereum stands on and which problem it tries to solve, to truly understand what it's value proposition is.
Many people that are entering the crypto space today have no clue what they're buying into, that is what makes this space so volatile.
Yet, with stocks, people do their due dilligence and read all about quarterly earnings, dividends and what not, why should crypto currencys be an exception?
How many that own bitcoin or ethereum actually knows what blockchain is or what it does?
Let me get to the point, if you were asked the question "how much will the internet be worth" 15 years ago, how would you answer and why?
Even the smartest people on the planet could not give you a good answer, some even claimed that it was doomed to fail, just like they do with Bitcoin and Ethereum.
Little did they know that internet would be the single largest marketplace in the world, today accounting for 21 percent of GDP growth over the last five years among the developed countries.
If you are only looking at the day-to-day price and are in this for a quick buck - you will be dissapointed.
Unfortunately many of us are driven by greed and speculation, and those who are driven by those means will quickly lose out on what could be the next big thing.
Every "crash" is someone elses oppertunity and at the same time, anothers persons loss.
The question remains, have we even begun to see the tip of the mountain?
We can only begin to imagine a world driven by something like Ethereum and what value it could bring to the society as a whole.
It is an idea about transparacy and immutability, cutting the middle man and enabling unlimited possibilities.
When enough people believe that blockchain is the future we will adapt to it, and when we have adapted, we will see far less of these crashes and only then discover the true value of ETH/Blockchain.
Sorry for the lack of updates, It's been a busy couple of days.
Taking a look back at my previous chart we have progressed quite nice, however I must admit that i was surprised about the fast move up to 800, and even more surprisingly was the steep drop to the 740 area (broke my channel).
We have since then stabilized in the 760 area which keeps my bullishness intact as we keep making higher highs and higher lows.
Looking at the 4 hour chart i have expanded the channel wider, to the lower end range of the initiation of the bullish swing to create some more room as we are going more of a sideway pattern right now (what could be called healthy growth/recovery sign). I have drawn out two extra trendlines in my chart that intersect, and these are pathing the way to two possible outcomes for me, either we will continue on the long trendline following way back (larger rise) or more of a slower push (smaller vertical trendline that's touching the channel).
The green dashed area has displayed a resiliance to further decline in the recent upswing from 680-690 which is also another bullish sign that enables us to go back and re-test 800 again soon. MACD is slowly turning it's wheel in our favor again.
I see 800 happening by Monday or Tuesday next week, perhaps earlier. And by that i mean that we actually should claim that area, just like we did with 700 (not touching 800 and get bullied down like the recent attempt). This is a progress, we need to push back each resistance point step by step.
When we get to 800 i see us digging through it in a decent pace, and when we eventually break 850 we will probably smash our way up to 900.
I am fairly certain that we will see ETH above or near all time high again in a near future.
So let's talk a bit about the value proposition of ETH!
Are you a moon kid? Crypto hater? Lambo dreamer or Bubble-about-to-pop talker?
Is it all a pipe dream? Are the gains we're seeing unrealistic, is it a bubble? Will it burst? What's going on?
We need to be unbiased and understand the technology that is emerging, to be more precise - what foundation Ethereum stands on and which problem it tries to solve, to truly understand what it's value proposition is.
Many people that are entering the crypto space today have no clue what they're buying into, that is what makes this space so volatile.
Yet, with stocks, people do their due dilligence and read all about quarterly earnings, dividends and what not, why should crypto currencys be an exception?
How many that own bitcoin or ethereum actually knows what blockchain is or what it does?
Let me get to the point, if you were asked the question "how much will the internet be worth" 15 years ago, how would you answer and why?
Even the smartest people on the planet could not give you a good answer, some even claimed that it was doomed to fail, just like they do with Bitcoin and Ethereum.
Little did they know that internet would be the single largest marketplace in the world, today accounting for 21 percent of GDP growth over the last five years among the developed countries.
If you are only looking at the day-to-day price and are in this for a quick buck - you will be dissapointed.
Unfortunately many of us are driven by greed and speculation, and those who are driven by those means will quickly lose out on what could be the next big thing.
Every "crash" is someone elses oppertunity and at the same time, anothers persons loss.
The question remains, have we even begun to see the tip of the mountain?
We can only begin to imagine a world driven by something like Ethereum and what value it could bring to the society as a whole.
It is an idea about transparacy and immutability, cutting the middle man and enabling unlimited possibilities.
When enough people believe that blockchain is the future we will adapt to it, and when we have adapted, we will see far less of these crashes and only then discover the true value of ETH/Blockchain.
Comment:
- And we are supplying the fuel for it by purchasing Ether, a token of trust as much as an investment.
Comment:
Pretty big dump brought us to our knees to around 720, it broke the local support and the channel as well in a single drop.
So, from testing 800 we are looking to find a bottom before testing 800 again.
I’m not feeling that much bearishness (yet) though those impulsive sell waves are a little alarming. A decline to 700 or below could result in a larger drop. I’m remaing long until we go below 675-680.
So, from testing 800 we are looking to find a bottom before testing 800 again.
I’m not feeling that much bearishness (yet) though those impulsive sell waves are a little alarming. A decline to 700 or below could result in a larger drop. I’m remaing long until we go below 675-680.
Comment:
Must be tired,
Clear HS pattern was in the making :)
Small bear victory, lets see if this was the final attempt to make a selloff happen before testing 800 or if we are going to ground zero :)
Clear HS pattern was in the making :)
Small bear victory, lets see if this was the final attempt to make a selloff happen before testing 800 or if we are going to ground zero :)
Comment:
We got a small bounce just below the local support, lets see which way the market decides to go, we are currently between 720-730 which still is bullish despite the drop, we are looking for a volume spike relatively soon to keep the bullish momentum intact.
Trade closed: stop reached:
Got stopped out at 680 after a fierce selloff, being long since 500~ still brought some profits. Lets see where to re enter !