The ETH flow so far is moving within the framework of the falling flag and the falling wedge. Personally, I think this is where the ETH price rises. It's exactly weighting up and down about 8:2. But if you look at the chart, it is unlikely that the price will rise right at this point. The reason is because of BTC.
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(BTC 1day chart)
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As I've always said, in order for the MA line to break, a sharp drop in price comes first, followed by a sharp rise. Or vice versa. This can be seen by viewing the candle flow and redirection of the 5 day line on the BTC's 1 day chart after September 26.
If you look at the BTC 1day chart, the Stochastic Dead Cross was created on the 14th. This was made two days later than ETH. Given that ETH and BTC's stochastics have just created a dead cross, I don't think they'll climb right here.
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(ETH 1day chart)
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Right below the candle is the intersection of the 5 & 10day lines. The intersection is near $ 182. If nothing changes, today's candle is unlikely to fall below this intersection. 2 & 3day and 1week chart Stochastics are rising, so ETH prices are unlikely to drop much, and I'm thinking about rising again around $ 180. But I'm not convinced that a one-day chart stochastic flow change will certainly happen there. I see roughly $ 174 as the strongest bottom on the rise of ETH, and I think it could fall between $ 166 and $ 171 in the worst case. Many traps also occur in this obscure section, so it's good to watch the flow of stochastic first.
If the candle is made tomorrow or the day after tomorrow, the direction will be visible to me, and more precisely, I can be sure to see where the candle is made next week.
Today's analysis is up to this point. Tomorrow and the day after tomorrow, I'm busy with work, so I don't think I can post an analysis. If there is a big change, I will update it shortly. I hope you will always keep your precious assets. Thank you.
ps. I tried to post an analysis centering on BTC, but somehow I'm analyzing ETH. After my work, I will analyze BTC again.
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(ETHUSD 1day chart)
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It's just breaking through resistance. I think the decline is pretty strong. We'd better stop thinking hopeful thoughts until we get a clear signal.
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(ETHUSD 1day chart)
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The price flow is out of the falling flag. Now just check that the ETH flow is out of the falling wedge frame. Let's watch a little more together.
I was short, But Im a bit confused now about the target... What you think ?
Crypto_Ranger_K
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@hamed1286, Hello, hamed1286. I think the ETH price will drop to around $ 167. If it falls further at that point, it could be as low as $ 154. It's hard for me to predict the price now. In the worst case, I think the ETH can go as low as $ 136. But first, prices are not expected to go up right now. So whenever the ETH price hits the support line I said, I think you have to judge.
I'm sorry I didn't help you much. However, the coin market is so volatile that it is dangerous to assert about future prices. I think it is wise to just keep watching and respond to every situation.
Crypto_Ranger_K
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@hamed1286, ETH price flows are currently moving within the falling wedge, but sooner or later it will be out of frame. (If you look at the chart above, you will see black lines.) I think that's a good time to sell ETH.
hamed1286
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@Crypto_Ranger_K, Thanks. Im just wondering how to learn technical analysis especially for crypto market. Do you have any recommendation ?
Crypto_Ranger_K
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@hamed1286, There are no analysis methods specific to coin markets, just a book or an internet blog to learn about technical analysis of stock charts.:)
Crypto_Ranger_K
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It's just breaking through resistance. I think the decline is pretty strong. We'd better stop thinking hopeful thoughts until we get a clear signal.