Patterns: Triangle, downtrend, higher low
Horizontal support and resistance: R - $455 S - $445 and $434
ETHUSDSHORTS: Broke out of continuation triangle. Now back inside of it and breaking down support. Fall to 17,8846 seems likely.
EMA’s (12 & 26): crossover on 1h, 2h, and 3h. 4h is crossing right now.
MA crossovers: crossover on 30 minute. everywhere else.
FIB’s: 0.236 at $416 and .382 at $642
Cloud: weekly cloud is acting as support. 3d c clamp, and fullish . Tenkan resistance on daily.
TD Sequential: Green 2 trading above a green 1 on the daily. Red 2 on 3d after a 2 candle correction. Weekly red 8. Green 1 on the monthly if we close above $388
Visible Range: Resistance from $450 - $494.
50 & 200 MA’s (calculate % difference): 50: -12% 200: -54.22%
Bands: M: MA is at $375 W: MA is at $578 3d: MA at $522 1d: MA is currently apart of the resistance cluster at $450
Trendline: Hyperwave (green) and triangle (yellow) showing confluence
Daily Trend: over last 17 hours.
Fractals: DOWN - $419 UP - $494
On Balance Volume: Bull div on daily.
Buy/Sell Sentiment on Trading View: - 44 - Crossing at 26
Conclusion: Longing at this price is attractive. Stop at $399 and target at $647 provides a 5:1 risk:reward ratio. I will be entering into this position in thirds. Green 2 above green 1 on the daily is the first indication to enter. Breaking through $455 is the second ientry and breaking the down (red) will be the third and final entry. ETHUSDSHORTS pulling back from ATH levels is a great confirmation.
Patterns: Bouncing off bottom of triangle, and recently broke out of down trend.
Horizontal support and resistance:
ETHUSDSHORTS: Have fallen by 17.44% over the past 10 hours while shorts on BTC have remained relatively flat.
12 & 26 EMA’s(calculate % difference): 12: +5.5% 26: +1.91% Posturing for bullish crossover on daily. Getting ready to cross on 12 hour.
MA crossovers: Getting ready to make bullish crossover on 1h, bearish everywhere else.
FIB’s: 0.236 at $416 and 0.382 at $642
Candlestick analysis: Potential hanging man the 12h. Waiting for euphoria wick to indicate this rally has come to an end. 1d, 3d and weekly still look bullish af.
Ichimoku Cloud: Trading above $485 would be kumo breakout on the weekly. C clamp on 3d with kijun at $792. C clamp on daily with kijun at $565. Bottom of bearish cloud is at $484 on 12h.
TD Sequential: Green 3 on the daily. Green 1 on 3d. Green 1 on weekly. Major support at $388 and major resistance at $538
Visible Range: Shows resistance tapering off after $491
50 & 200 MA’s (calculate % difference): 50: -5.02% 200: -44.97%
BTC Price Spreadsheet: Back above 200 MA on 4 hour chart for the first time since 5/21. About ready to make a bullish cross on 1h. All other times are bearish. 50 day MA will be waiting at $500.
Bollinger Bands: D: Bands are just starting to angle upward. Top band is at $493. 3d: MA is at $521 and top band is at $663. W: MA is at $556 and top band is at $790
Trendline: Recently broke down trendline. Found support at the bottom of the triangle and on top of the green trendline that connects 7/16/17 to 7/13/18.
Daily Trend: Bullish since 7/14
Fractals: DOWN $420 | UP $496
On Balance Volume: Bull div in the daily. OBV already broke through the resistance that corresponds with the $500 price level.
Buy/Sell Sentiment on Trading View: RSI back above 50. Stoch at 45. Half of the MA’s are showing buy signals after being a ‘sell’ across the board.
“As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterBrandt
Yard line of trend:
Field: $217 in length
Current Price: $476
Conclusion: Feeling good about this position. Will be watching price action at $500 resistance closely. Should be fully entered under $475. If not then there is still time to build a position. Crossovers on the 12 & 26 EMA’s and/or the 50 and 200 MA’s could provide the necessary confirmations to enter. The risk:reward is not as favorable so it could be a good idea to scale down on the position size.
Stop was triggered on this position at breakeven. Head and shoulders + bear flag on the 1 hour make me feel very glad that I got out.