[Watch it] On the edge. Will the Sleeping Giant Get Up at last ?
We have a strong confluence of medium term moving averages within 185-200$.
We also have a rather obvious symmetric triangle next close its apex, which may encompass an ascending triangle actually - not 100% sure.
Those MAs under price should provide some degree of suppport, so i have to assume a slight bullish bias here.
I wouldn't rely on bias alone though, in term of risk management i consider better waiting and watching breakout, then acting accordingly.
DYOR, take care.
We also have a rather obvious symmetric triangle next close its apex, which may encompass an ascending triangle actually - not 100% sure.
Those MAs under price should provide some degree of suppport, so i have to assume a slight bullish bias here.
I wouldn't rely on bias alone though, in term of risk management i consider better waiting and watching breakout, then acting accordingly.
DYOR, take care.
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Breakout, moreover +15% within a week.
What still bugs me is volume, unless it picks up any soon i should assume a fragile situation. Let it, go, but have a take profit. Maybe in trailing.
What still bugs me is volume, unless it picks up any soon i should assume a fragile situation. Let it, go, but have a take profit. Maybe in trailing.
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Now 190-200$ should be regarded as support.
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Use caution, we may have a diamond formation.
I hate diamonds, they're almost unpredictable and usually exhibit cumbersome breakouts.
It can be a diamond top or a half staff.
We'll have to wait and look for some bias.
If you're still in be sure to place a take profit as a warranty.
Let's see.
I hate diamonds, they're almost unpredictable and usually exhibit cumbersome breakouts.
It can be a diamond top or a half staff.
We'll have to wait and look for some bias.
If you're still in be sure to place a take profit as a warranty.
Let's see.
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(just a hyphotesis, an early heads-up)
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Reason diamonds are tricky:
thepatternsite.com/diamondt.html
thepatternsite.com/diamondt.html
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Look at it.
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If it was Bitcoin i would have bet on a half staff.
But this is Ether and we'll have to see.
But this is Ether and we'll have to see.
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So, let's put it into perspective.
Bulls managed to recover the former channel and are currently challenging the 250$ resistance area. I mentioned a diamond formation here, a pretty unpredictable pattern.
I see a slight bullish bias here ( hence i stay Long and have a TP as a waranty ), yet safest option is awaiting breakout, and more important, volume.
Bulls managed to recover the former channel and are currently challenging the 250$ resistance area. I mentioned a diamond formation here, a pretty unpredictable pattern.
I see a slight bullish bias here ( hence i stay Long and have a TP as a waranty ), yet safest option is awaiting breakout, and more important, volume.
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Keep your eyes open.
*IF* bulls can overcome 250$ area on volume, then i'd suppose a MMU ( see ABC o chart ) would be feasible. If they fail well reconsider after test of support ( roughly 220$ ).
*IF* bulls can overcome 250$ area on volume, then i'd suppose a MMU ( see ABC o chart ) would be feasible. If they fail well reconsider after test of support ( roughly 220$ ).
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A last, short term consideration and a different take on the matter.
If bulls manage to take the yellow route they may try achieve a breakout, hence possibly a MMU.
Point is we have a diamond and a TD count=9 already on daily, hence there's a very tight *window of opportunity* for them in terms of time.
If price will keep moving sideways i think a a pullback will get increasingly likely.
So watch WE.
If bulls manage to take the yellow route they may try achieve a breakout, hence possibly a MMU.
Point is we have a diamond and a TD count=9 already on daily, hence there's a very tight *window of opportunity* for them in terms of time.
If price will keep moving sideways i think a a pullback will get increasingly likely.
So watch WE.
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Beware, time passing by.
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24/48h for bulls to try confirming that pennant -AND- keep over support.
Otherwise pullback likely.
Otherwise pullback likely.
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Have a TP if you're Long.
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Ether should try to pierce the 250$ resistance area before the end of June.
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Interesting to notice Ether achieved a TD count=10 on weekly already.
It only happened one time within the last 5 years.
It was back in december 2015, before the bull run.
It only happened one time within the last 5 years.
It was back in december 2015, before the bull run.
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Very, very risky. Beware of risk of loss of support.
Have a stop.
Have a stop.
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Ether at resistance.
Once more.
Once more.
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Ether has support in the 290-320$ range.
Key support at 188-190$.
First resistance 214-215$.
I see a sligh bullish bias, but alot depends on what Bitcoin is going to do.
Play safe,watch the breakout.