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AlanSantana
Dec 8, 2020 2:09 PM

Ethereum Moving Below Support, Incoming Drop! (Altcoins Update)  Short

BITSTAMP:ETHUSD1D
Ethereum / U.S. dollarBitstamp

Description

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Another one of the big buys, Ethereum (ETHUSD), is also aiming lower...

What do you think will happen when big money flows out of Bitcoin, Ripple, and Ethereum?

Where is this money going?

The smaller altcoins of course... We are talking about thousands and thousands of altcoins.

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Back to Ethereum...

We can see prices moving below EMA10 and the exact same signals we saw on the Bitcoin (BTCUSD) chart.

We have the indicators, MACD and RSI, trending lower as well as bearish divergence with both.

We also have a bearish cross on the MACD and the bear volume being clearly stronger than bull volume since the beginning of the month.

This is no big deal...
This is not a problem...

Prices go down, just as they go up.

You always get a retrace after a strong bullish move.


Conditions for change

We would need to see Ethereum (ETHUSD) move above the last high and staying there for the bearish bias that is developing now to be canceled out.

For now, we are aiming for lower prices.

Thanks a lot for reading.

Namaste.

Comment

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Bitcoin, Ethereum and Ripple all went lower as expected while the smaller altcoins are starting to grow.
Trend AnalysisTechnical IndicatorsBeyond Technical Analysis
Comments
CryptoJoeC
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I can not thank you enough for sharing. I started trying to learn T/A a week ago. So much to learn, I appreciate you.
AlanSantana
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@CryptoJoeC, Good to know.

I am happy to read this, it is my pleasure to help.

Namaste.
MichaelJason
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Thanks for the TA. Mad respect.

Namaste!
okifinance
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It's now at 573. What do you think is the next move from here?
QuanLam
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Thank you so much for your sharing @alanmasters. What's your expectation of the next move?
AlanSantana
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@QuanLam, For me this one is still developing... It can go lower.

It needs more time for us to a map a new move.
Daacuso
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Hi Alan, thanks for the update. You mentioned some coins before like Hot, Nulls and Sys. I guess first the top 100 and later on the small cap coins?
AlanSantana
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@Daacuso, You guess first... ???

I don't understand the question.
Daacuso
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@alanmasters, i mean that in the past we saw the top 100 coins grow first. After that the small cap alts followed later on. You think this will happen again?
AlanSantana
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@Daacuso, The TOP85 are all "small cap." to me.

But yes, I agree... They will all grow.
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