ETH --> How to consistently double your money

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
1. First of all, you can see that I drew what are called " Fibonnacci Speed Resistance lines".

Speed lines are a combination of trend line and percentage retracement analysis. Speed resistance lines not only help to measure trend corrections (percentage retracement) but also measure the speed of a trend.

--> Speed Resistance Fan lines can also be viewed as support or resistance lines. In an uptrend, price usually stays above the higher speed line. If this line is penetrated, prices generally fall to the lower speed line, which in many cases becomes the support level . However, if prices break below the higher speed line, fall to the lower speed line, and then begin to rise, the lower speed line becomes the resistance level . In a downtrend, the breaking of a lower speedline indicates a possible rise or rally to a higher line. If a breakout occurs above that line, the rally may continue to the top of the prior trend (or the underlying trend line ).

--> These lines shows us up until incredible granularity where the price will find support and resistance! (Just look at the graph!) Breaking a lower trend line in a down trend in an upward move can be considered quite bullish .

--> They are not that difficult to draw in Tradingview.

2. Now consider the MACD and the RSI . I highlighted the MACD moments where one can expect a bullish reversal (in green) or a bearish one (red). As you can see on the daily, the (strong) downward move we are currently in could have been predicted up front.. Furthermore, they also indicated in a consistent manner the start of strong upward trends (highlighted on the y-axis as white price points (doubled your money!) and blue price points (doubled your money again!).

--> We are closing in on a new daily MACD bullish cross (perhaps even a golden cross), but we still have to be a little patient.
--> RSI has supported the bullish/bearish character in each of the scenarios discussed.

--> Looking at the 4h chart however, we can see that there is some bullish momentum in the shorter term.

3. Conclusion: For those who want to start a long position, average in on it: don't buy all at once, but you can start buying a first chunk at these prices, and then wait for the bullish MACD on the daily to take place. Use the Fibonnacci speed resistance lines to guide you in identifying resistance and support!

And don't forget to look at the hourly / 4-hourly chart to make some short term profit in between (you can apply the same strategy).

PS: this is by no means to be considered formal investment advice, do your own due diligence! (and preferably buy only cryptos for which you also believe in the underlying fundamentals)
Jan 18
Comment: As mentioned, here is the 4-hourly chart, showing a golden cross in the MACD and the subsequent upward move.

Jan 31
Comment: See how nicely ETH is moving on the white line denominated as "1"! HODL.
Slick and awesome. Thank you brother.
@yikboyx, with pleasure!
So appreciate people sharing this stuff
A_Cryptastic_Mind JimJupiter1327
@JimJupiter1327, you are very welcome! :)
Very nice presentation. Thanks for sharing.
@fortnbry, my pleasure! Stay tuned ;)
Nice, thanks! How did you decide on choosing the starting point for the fibonnacci speed?
+6 Reply
@kargs, Hi kargs! it is actually the lower bound (low) of the green candle on the left, which is the lowest position in that upward channel as from that time :)
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