EtherCharts
Long

Another Lesson in What a Bottom Looks Like in ETH/USD

COINBASE:ETHUSD   Ethereum / U.S. Dollar
I woke up yesterday as many did and immediately was greeted by a wave of selling pressure across all cryptos. Since I chart ETH/USD constantly that was my 'go-to' chart to help me understand what was going on.

What I saw was a severe overreaction to an already severe sell-off. Even though ETH/USD dipped under 500.00 the SHAPE of the trading told me to just ride it out. What was in the shape of the chart? Look and you will see two red lines that had constrained the selling for a number of waves. Then, the descending line of support gave way in what I can only call 'ridiculous fashion' as people started to sell as if selling was the only way to get out of a burning house. After that huge and voracious dip (that was also accompanied by fear and emotionally driven) I felt confident that ETH/USD had made a bottom.

Now, just a little more than 24 hours later, what has changed? Well, ETH is within easy striking distance of 800, the chart shows a possible bullish setup that, with a move over 800, would indicate a run on 1000.

What else has changed? A bunch of people sold their Ethereum             when they should have been buying. But that seems to be a story that repeats often any time trading is involved.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out