fractal caught. ETH will drop but temporary support at 200
as we can see from the chart, whenever price tests 20EMA in red, it fails.. that has been happening since may! our next test is at around 230, we couldn't even get close enough to test it first before continuing our drop... there is a chance we reverse and teest it again.. that would be a 15% trade at least! but that's not what im talking about in this post... here im simply pointing out that we cannot expect a reversal in ETH's drop unless we pass 20 EMA and stabilize above it. this is for the people that wanna go long. as for scalping or swing trades, if market conditions allow...we should reverse right about now if we wanna stay bullish short term. if we close a 1 hour candle below 200, then we're probably headed to 100 next stop :D.. so be Very cautious!
best of luck! for any inquires leave a comment below.
Trade active:
just getting some juice out of consolidation :)
Trade closed: target reached:
quick 2%.. now, we are in a bear flag.. wait for confirmation of 20EMA in red as support if you wanna get in
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hopefully my expectations are, a validation of the bear flag and a drop to sub 200 levels, then a quick spring to 230. by quick i mean 2 to 3 days
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there we go... TA isn't hard gentelmen,, just cancel your feels
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no bullish divergence spotted anywhere.. RIP for this coin so far! i can't jump in unless i have solid proof that momentum is reversing
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BUT, thre is bullish divergence on 1 hour chart in ETC and LTC... i'll post ana analysis on LTC and open a trade very soon.. here goes.
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the trend is too steep for a reversal now. best case scenario is sideways consolidation.. so i didn't open trades.. just set some alerts on specific levels and i'll get back to you once a trend reversal is spotted :) so click that follow button to make sure you don't miss my post! also if you liked today's post,(called the drop before it happened, got 2% profit during drop, and caught bear flag before it broke out to prevent losses) press the like button. Thank you.
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damn. I was in class when the reversal happened!
So far 200 support is holding as mentioned.. but things are not looking good in the long run.. but looks like we might give the 20EMA another test before dropping again.. like i mentioned earlier as well
So far 200 support is holding as mentioned.. but things are not looking good in the long run.. but looks like we might give the 20EMA another test before dropping again.. like i mentioned earlier as well
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i've been doing some sketching, and here's what i see.
I see a test of 220 to 225 coming up, with an expected reversal. Reasons are, an ascending triangle and rejections from 20 EMA over and over again.
But, I know this looks really lousy, but this could be a bullish divergence forming...
RSI has been following a certain line, and a lower low of price has been made with higher high of RSi. to sum up, im opening a long position and pushing my SL up as we go into the ascending triangle :)
I see a test of 220 to 225 coming up, with an expected reversal. Reasons are, an ascending triangle and rejections from 20 EMA over and over again.
But, I know this looks really lousy, but this could be a bullish divergence forming...
RSI has been following a certain line, and a lower low of price has been made with higher high of RSi. to sum up, im opening a long position and pushing my SL up as we go into the ascending triangle :)
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lmao, still floating around 200 exactly ! nothing to see here!