SamHuynh
Long

ETH-USD bear is exhausted ?

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Daily is forming doji which shows indecision . That's great . It tells us that bull hesitates to push lower
We are at important 400$ psychological support
In addition, on 4hr we are forming descending triangle . If we can break up, that's a time to buy.
I have also pointed out the similarity of this dump with the previous one. As you can see that , with previous one we have one 1 more short dump to create a beautiful bull div on 4hr.
Can it also happen this time ? if we can't pass the middle band of Boiling Band, then it will and it will be super great chance to catch that short dip. If it doesn't happen, that's ok too


Note: this post is for discussion only , not financial advise

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Trade active: yahooo
Comment: Fake break out. It got pushed back at the mean of the pitch fork.
Right now we are inside a new penant.
If price drops below the previous low 397$, this trade will be canceled because we will move to the lower area of the PitchFork which is around 375$
if price breaks the mean of the PitchFork, we will approach the higher area which is
Comment: around 435
Comment: the mistake of this trade is to jump in too early and ignore bull confirmation >><<
Comment: this is the break down case which will match with the previous dump from my original idea
Comment: I also don't give up on bull yet because of max TD senquential and squeeze showing sell decreasing
Comment: the consolidation range is getting smaller and smaller . BIG move is going to happen soon.
Comment: honestly, ETH-USD chart looks more bullish than BTC-usd by looking its candle structure :)
Comment: hey bull, im ready :)
Comment: break down because of bitcoin ETF delay. BUT this should be the last dump as i have mentioned many times for this possible scene. It will create a 4hr bull div
Comment: according to my original plan, I strongly believe this is the last drop of ETH before the bounce up.

if we keep breaking below 369$ without bouncing up first , this is really a bad situation for crypto and the worst one will come :)
Comment: still inside bottom of pitch fork
Comment: bear is strong. Bull div on 4hr is almost invalid now.
Comment: VERYYYYYY NICE. bull div on 4hr is still valid
Trade active
Comment: this looks bad. The 4hr bull div is gone now. Price has gone deeper. 350$ is the last support for further big dump
Comment: i can see that a lot of retail investors are in panic mode now. However, i still think it is too EARLY to deep below 350$ . Therefore, 350$-376$ is a good buy range
Comment: anyway, time to go to sleep. Don't be panic folks, this is BUY zone not sell zone :)
Comment: pretty much the best price to buy ETH now. I don't expect eth to drop below its STRONGEST key level of entire chart without having any bounces :)
Comment: sell and panic more , then give me a hammer candle :)
Comment: I will keep screaming BUY while everyone is panic at selling :)
Comment: honestly, ETH has been acting very weakly lately. Now we are in tight consolidation just like last time again. Bull still doesn't want to show up. The uncertain is at highest now. Attention is needed for either strong break up or down. Bear is in favored
Trade closed manually: this coin is shit , guys :))
I think its not buy zone yet unless its for scalping in low time frames..
Reply
SamHuynh Turningmecard
@Turningmecard, even if it drop below , it will definitely bounce back to it . This is key area. I know lot of people are in panic mode now but the best time to buy is when everyone is in panic.
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@SamHuynh, this is my own TA how i played this market, and i tend not to go long until full confirmation..
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SamHuynh Turningmecard
@Turningmecard, 4.8k is possible but 3k range is doubtful unless we have really bad news. Considering lot of upcoming news around end of October :)
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@SamHuynh, yes i think so too. Only thing left for this bear market is touching and bounce going under 100 ema weekly if it will resemble 100%like 2014..
Reply
SamHuynh Turningmecard
@Turningmecard, yeah I know that a lot of people start thinking btc's 2018 movement is following 2014 now. LOT OF people . However, when multiple people start seeing it , it will be a signal for breaking pattern. Overall, im interested in seeing what kind of news they will use to drag bitcoin down to 5k T___T. We need a bad news to drag it down to that price
Reply
@SamHuynh, well multiple people went long at 67/68 but magic didn't come either. Yes more bad news is needed but whales understood i think breaking the neckline is the most important thing to drag this to at least 5.7..
Reply
SamHuynh Turningmecard
@Turningmecard, yeah chance to see 5.7 is high . But below it, we need to see some bad news. Just like last time when everyone all thought 5k, but 5.7k holds firmly despite all negative sentiment
Reply
SamHuynh SamHuynh
And right now with upcoming good news around November, it definitely needs a very bad news to drive bitcoin down low
Reply
@SamHuynh, absolutely. So this time i will look for crystal clear bull div on multiple indicators to dive in.hehe
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