1. SMA 5/10 cross over (short term indicator generally but I use this on all time frames) 2. BBands opening up 3. ADX above 20 4. +DMI bullish 4. OBV bulish 5. MACD 1 day bullish (crossed have to zoom in) 6. RSI trending bullish
Chart
Massive ascending triangle which gives ETH approximately $265 to rise from where the breakout occurs.
Target Price
Long target price $600 - $650.
Other
This is 1 day chart most bullish indicators are visible here. For a better look see 8hr/6hr chart.
Thoughts
Please let me know if you agree of disagree I'm always open suggestions and comments.
Disclaimer
This is NOT trading advice. *Perform your own due diligence. *Trading decisions should not be made based on this information. *You agree not to hold the author liable for any losses you may incur based on this information.
Comment
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Link: news that could have a positive impact in the near future.
I'm bearish on BTC and as of right now it looks like ETH is following. If that continues to be the case the two support levels (dotted and straight lines) need to hold for this chart to remain valid.
If anyone is interested in seeing my BTC chart let me know and I will publish it.
Have a look onto the logarithmic ETH chart from 2015 until today. I still think that ETH is goin sideways until early 2018. Because after 70x between Dec2016 and June 2017 it has to consolidate. Last consolidation before December 2016 was also for +/- 9months. Then there is this chart: Maybe Bitocoin is going to outperform ETH until 2018. After that we see ETH moon to xthousands.
slfmd
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@MichaelShutterbug, I don't expect this to be an "overnight" trade unless money from BTC correction (potential) changes that. It very well could take another month or two before the ATH is broken which we can see from the ascending triangle. My observations are that consolidation period may be coming to an end by the indicators I mentioned and ETH will start pushing higher.
sean9
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Def a big potential to have an upward breakout!
Agree with your analysis.
With the right spark the move will start pretty quick as the the mass will hop on the moving train.
If we dont get any catalyst for the jumpstart I see it going sideways shortterm.
slfmd
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@sean9, I may be wrong but I thought I read something about micro radian release soon. I don't expect that to be a big catalyst but it's fuel for the fire. The big ones will be POS, limiting ETH supply (see article) and money from BTC correction (potential).
OneManTrading
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I agree. Plus with less ETH available due to Parity Wallet locking many up... less could mean more valuable. But TA on the 3 day chart shows the trend. We shall see what happens. When BTC corrects... hoping more $$$ floods into ETH.
slfmd
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@threeD, I'm optimistic that at least some money from BTC will flow to ETH from the action we are currently seeing.
MateuszP.Rydzik
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Agree :)
slfmd
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@Mateuszp.Rydzik, Great! I'm assuming a BTC correction is on the way and I won't be surprised if we see the price get a little choppy as the market realizes... Oh it's ETH turn.
UnknownUnicorn1502447
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I love how your analysis is very clear and straight forward!
slfmd
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@tpham1390, Thank you! I appreciate the feedback and thanks for taking a look.
Maybe Bitocoin is going to outperform ETH until 2018. After that we see ETH moon to xthousands.