Bitfitnex ETHLONGS are up 7+%, ETHSHORTS are down 7+%
This breakout looks seemingly healthy so far. A good Volume follow through would invalidate this Bearish ABCD Pattern. A break of the $105 resistance now turned support would likely validate.
This is also a much more convincing breakout of the Downtrend line that has been in place since January, 14th.
Good luck, Traders!
This breakout looks seemingly healthy so far. A good Volume follow through would invalidate this Bearish ABCD Pattern. A break of the $105 resistance now turned support would likely validate.
This is also a much more convincing breakout of the Downtrend line that has been in place since January, 14th.
Good luck, Traders!
Trade active:
ETHUSD Currently pinched between $118.50 resistance line and the EMA Ribbon. Bulls are holding on the 5m time frame and haven't given up much ground to speak of yet. ETHLONGS on Bitfinex are hovering around 200k (439k) more than the ETHSHORTS (240k) with a slight dip in LONGS after hitting the $120 briefly.
If Bulls can scale the 118.50 and find support, LONGS are looking pretty sweet.
Good Luck, Traders!
If Bulls can scale the 118.50 and find support, LONGS are looking pretty sweet.
Good Luck, Traders!
Trade active:
Price Action is really hugging the .236 Fibonacci Line, and teetering just below the EMA 12 on the 15min Chart and could end up rejecting any advance.
On the 5min, it's just below EMA 12, 20, and 26.
On the 1Hour, EMA 12 can be seen coming up to meet the .382 Fib. Line. ($114.85)
With any hope for the Longs, Bulls need to show up and push past the $117.58, else ETH Looks like it might have to find support lower at 114.85 and 112.64 before making a move up.
The $115 price level should act as strong support now that it's been broken.
Lotta folks calling for $200 - let's see if another move can convince an audience.
In a previous post, a Daily Bearish Gartley looked to be in place. While I wasn't holding too much stock in it, recent developments have me thinking otherwise.
On the 5min, it's just below EMA 12, 20, and 26.
On the 1Hour, EMA 12 can be seen coming up to meet the .382 Fib. Line. ($114.85)
With any hope for the Longs, Bulls need to show up and push past the $117.58, else ETH Looks like it might have to find support lower at 114.85 and 112.64 before making a move up.
The $115 price level should act as strong support now that it's been broken.
Lotta folks calling for $200 - let's see if another move can convince an audience.
In a previous post, a Daily Bearish Gartley looked to be in place. While I wasn't holding too much stock in it, recent developments have me thinking otherwise.
Trade active:
Nice little flag developing. ETHLONGS outpacing ETHSHORTS on BITFINEX today. SHORT Positions are as low as they've been since December 21st, 2019. If we can recall, that was at the front end of the previous rally up to $160.
Good Luck, Traders!
Good Luck, Traders!