Hello followers and other TradingView users!
I have lots of requests - can you do ETH TA.? So, here it is!
First of all, I would like to say that I don't make altcoins TA. because almost all those follow the BTC movements (yes, obv there is exceptions) and if You want to trade the altcoins You have to know what BTC does, some basics price action criteria have to match on the alts and You are ready to go!
Let's start with the ETHUSD analysis!
At the moment we are sitting between the $400-500 level over a month now! In this area, we could see also historically the very strong trendline (7 touches)! This trendline has worked over a year now and breakout below that could mean a disaster for Ethereium!
In this price level, we have also formed a triangle, a breakout could confirm the bearish/bullish direction! If we get close around the $438 then it would be mean bearishness (breakout from both triangles) and if we get close around the $503-5 it would be mean bullishness (breakout above the smaller triangle and close above the round number $500)
There are also start to form one bullish harmonic pattern called "Cypher". Bottom supported with the main trendline and nice starting platform to start climbing higher!
If we start climbing higher then cypher pattern shows us target around $740 but the road to there would be pretty hard (we have to break strong trendlines, EMA's, MA's and we have to break strong resistances) and all depends - what the crypto market does!?
Hopefully, this helps You out and if You have any questions then leave a comment!
Please click the FOLLOW button and don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
I have lots of requests - can you do ETH TA.? So, here it is!
First of all, I would like to say that I don't make altcoins TA. because almost all those follow the BTC movements (yes, obv there is exceptions) and if You want to trade the altcoins You have to know what BTC does, some basics price action criteria have to match on the alts and You are ready to go!
Let's start with the ETHUSD analysis!
At the moment we are sitting between the $400-500 level over a month now! In this area, we could see also historically the very strong trendline (7 touches)! This trendline has worked over a year now and breakout below that could mean a disaster for Ethereium!
In this price level, we have also formed a triangle, a breakout could confirm the bearish/bullish direction! If we get close around the $438 then it would be mean bearishness (breakout from both triangles) and if we get close around the $503-5 it would be mean bullishness (breakout above the smaller triangle and close above the round number $500)
There are also start to form one bullish harmonic pattern called "Cypher". Bottom supported with the main trendline and nice starting platform to start climbing higher!
If we start climbing higher then cypher pattern shows us target around $740 but the road to there would be pretty hard (we have to break strong trendlines, EMA's, MA's and we have to break strong resistances) and all depends - what the crypto market does!?
Hopefully, this helps You out and if You have any questions then leave a comment!
Please click the FOLLOW button and don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
