Accumulating on dips and / or buying a breakout may be a long term winning strategy.
Just keep in mind that this falling wedge may technically allow a price < 40$, even if that's not much likely.
So don't be too eager. If you wish to accumulate do it by buying small lots.
Just keep in mind that this falling wedge may technically allow a price < 40$, even if that's not much likely.
So don't be too eager. If you wish to accumulate do it by buying small lots.
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Watch out.
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Now it needs a volume spike.
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About to make a move.
Bias is on the bullish side, but watch for 0.382 FIB.
About to make a move.
Bias is on the bullish side, but watch for 0.382 FIB.
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Mixed picture, but we may have a diamond top.
It's not an *absolutely* reliable pattern, it simply means it is better to tighten TP and SL imho. Better safe than sorry.
It's not an *absolutely* reliable pattern, it simply means it is better to tighten TP and SL imho. Better safe than sorry.
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Careful.
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Again, careful.
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Price is much stretched.
ETH should hope in a breakout on volume of BTC or a retrace is likely.
ETH should hope in a breakout on volume of BTC or a retrace is likely.
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Being careful pays.
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Bots painting channels.
Awaiting a breakout and some *real* action.
Awaiting a breakout and some *real* action.
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Still "channeling" ...
Bulls should hope it's an ascending channel and not a rising wedge.
Too soon to say.
Bulls should hope it's an ascending channel and not a rising wedge.
Too soon to say.
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It's clearly a rising wedge and we have a bearish divergence, albeit smail, on TH 4H.
A lot depends on BTC, but ETH itself is mush fragile now.
A lot depends on BTC, but ETH itself is mush fragile now.
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And BTC saved ETH's day, basically.
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Finally that rising wedge broke down.
There's a fragile interim support above main support, but now momentum is weak.
Beware, -IF- Bitcoin weakens ETH can turn down sharply from here.
So keep on eye at it as well.
There's a fragile interim support above main support, but now momentum is weak.
Beware, -IF- Bitcoin weakens ETH can turn down sharply from here.
So keep on eye at it as well.
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Update
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Slowly approaching support, key area.
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Break down of support on volume tells the first leg up was done.
The hIgh on Bitfinex was at 167$, which perfectly matches the first resistance level you find on my opening post.
Bulls may try to consolidate / find support onto FIB 0.382 area.
It would be a healthy / normal pullback.
Otherwise an ABC correction is likely and bears will take the lead.
The hIgh on Bitfinex was at 167$, which perfectly matches the first resistance level you find on my opening post.
Bulls may try to consolidate / find support onto FIB 0.382 area.
It would be a healthy / normal pullback.
Otherwise an ABC correction is likely and bears will take the lead.
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Crossroad ahead.
A lot of manipulation ongoing on Bitcoin.
So watch out for false signals.
A lot of manipulation ongoing on Bitcoin.
So watch out for false signals.
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I've just said it above ... false signals-
Break up, break down, break up, ...
ETH looks drunk today.
The problem are the guys playing with bitcoin.
Use caution, even better stay out.
Break up, break down, break up, ...
ETH looks drunk today.
The problem are the guys playing with bitcoin.
Use caution, even better stay out.
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ETH is in a bad shape.
It needs to paint a morning star and to recover 112$ ASAP.
It needs to paint a morning star and to recover 112$ ASAP.
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May we have that bounce, pretty please ?
Boring.
Boring.
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Better late than never, Mr. ETH ...
here is bounce we were waiting for,
At resistance now.
here is bounce we were waiting for,
At resistance now.
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Technically there's a decent chance to escape that long and boring descending channel, -IF- ETH bulls manage to paint a flag / pennant from here and breakout within about 48H.
We'll see, it's maybe a 40% chance as a lot depends on what -Bitcoin- is about to do.
Yet it's worth mentioning.
We'll see, it's maybe a 40% chance as a lot depends on what -Bitcoin- is about to do.
Yet it's worth mentioning.
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It tried to break-up as per previous minor hypothesis.
Timing was good, but it fell short.
Problem was that red candle on Feb, 11th.
Not much encouraging now, as it may paint a rising wedge.
Timing was good, but it fell short.
Problem was that red candle on Feb, 11th.
Not much encouraging now, as it may paint a rising wedge.
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Breakout of channel, on volume.
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Resistance was marked at 166,35$.
Price actually peaked at 166,40$.
A decent forecast ;)
Price actually peaked at 166,40$.
A decent forecast ;)
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3rd resistance at about 350$ is technically in sight, but it has to be reached soon or momentum will vanish.
Decision time on ETH.
Decision time on ETH.
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Retrace to FIB 0.382
Come on ETH, time for some reaction.
Come on ETH, time for some reaction.