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Acidus
Jul 29, 2017 6:35 PM

ETH 1 more dip before trending upward? Long

COINBASE:ETHUSD30
Ether / United States DollarCoinbase

Description

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This is my first chart on here, so "bear" with me!

If ETH does not break the 193 mark, we may see next dip around 176 and could possibly fall below the 159 barrier depending on the next few hours. Could possibly be a good entry point to go long after Aug 1st.
Trend AnalysisChart PatternsEthereum (Cryptocurrency)ETHUSDETH
Comments
Shwayze
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The price at 205/210 was where I expected the dip. Hard hitting resistance against an upward trend. Let's see what plays out
Shwayze
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Hopefully get a retrace of 36% and buy back now
veilkrand
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There's no momentum to break the 200 resistance now. It would keep going down for a while...
Acidus
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@veilkrand, that's what I figured. It lost momentum quick, now fluctuating right below the 200 mark.
KenCarv
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@Acidus, See the zone, go out to daily and draw zones on the wicks.

You'll see on lower timeframe is has tapped the zones 4-5 times, the last time it has been rejected sharply from 210.

Normally if it was to break there would be accumulation around 205 etc. then a move through.
Acidus
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@bencarvill, you're right. It's tapping the lower zone and can't break past the 210 barrier. H ow we can see rejection at the 200 mark
NoCode326
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I think some of the money is shifting from BTC to ETH right now.
NoCode326
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Not sure if its going back to $184. Huge demand at $195 right now. We will see.
cgavel
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Good job Brother! Best of luck to ya. :)
Acidus
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@cgavel, thank you! Same to you!
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