ETH/USD OVERBOUGHT ON 4 HR, SMALL SHORT - Targets $251,$237,$210
ETH/USD OVERBOUGHT ON 4 HR, SMALL SHORT (suggests trend reversal or sell-off)
50-200 - cross a few candles back is bullish (significant). Question is can it sustain this?
stoch rsi - nominal
other data show fundamental events are not significant enough to justify a bull run.
On the other hand, total crypto market capital has reached a new all time high. I would say ETH will go bullish toward end of August.
Targets for taking profit are $251, $237, $210
I suggest being in and then get out if you are going to short...or plan to buy a bit lower as we are still sitting on overbought levels.
Price can potentially swing $50+ downward
50-200 - cross a few candles back is bullish (significant). Question is can it sustain this?
stoch rsi - nominal
other data show fundamental events are not significant enough to justify a bull run.
On the other hand, total crypto market capital has reached a new all time high. I would say ETH will go bullish toward end of August.
Targets for taking profit are $251, $237, $210
I suggest being in and then get out if you are going to short...or plan to buy a bit lower as we are still sitting on overbought levels.
Price can potentially swing $50+ downward
Comment:
Eth/btc dropped by over 3.5%, but eth/usd went the other way. Total crypto market cap has hit a new ATH.
-4hr rsi - 82.8437 - overbought
-4hr stoch rsi - 83.6612,60.4332 overbought, but could pump more before resetting
-50-200 ema cross is bullish
-t-k cross is bullish
-proprietary technical data says this thing should decline.
-Fundamental events analysis - Decentraland, Kuna Exchange, 0x registration does not seem to be significant enough yet. Neutral bearish.
However, total market capital has hit a new all-time high. $122 Billion USD.
Before it was ~116 B. This means the total crypto market is growing.
If you guys are shorting, put in stops and set your targets.
-4hr rsi - 82.8437 - overbought
-4hr stoch rsi - 83.6612,60.4332 overbought, but could pump more before resetting
-50-200 ema cross is bullish
-t-k cross is bullish
-proprietary technical data says this thing should decline.
-Fundamental events analysis - Decentraland, Kuna Exchange, 0x registration does not seem to be significant enough yet. Neutral bearish.
However, total market capital has hit a new all-time high. $122 Billion USD.
Before it was ~116 B. This means the total crypto market is growing.
If you guys are shorting, put in stops and set your targets.
Comment:
4h stoch rsi - 100,83.6696
4h rsi 87.4230
1h stoch rsi - 100,90.9784
1h rsi - 79.9154
1D stoch rsi - 100,98.4768
1D rsi - 67.3713
1h and 4 hour is screaming overbought. Stoch RSI on 1D is screaming overbought.
I see absolutely zero events to justify such a pump. Maybe I'm missing something, but I'm checking and don't see anything. Lowstrife's idea also says we are looking at a possible bulltrap. I'd say this is a bulltrap....unless Russia or someone is buying ether. If you guys know something I do not know, please post comment.
4h rsi 87.4230
1h stoch rsi - 100,90.9784
1h rsi - 79.9154
1D stoch rsi - 100,98.4768
1D rsi - 67.3713
1h and 4 hour is screaming overbought. Stoch RSI on 1D is screaming overbought.
I see absolutely zero events to justify such a pump. Maybe I'm missing something, but I'm checking and don't see anything. Lowstrife's idea also says we are looking at a possible bulltrap. I'd say this is a bulltrap....unless Russia or someone is buying ether. If you guys know something I do not know, please post comment.
Comment:
The eth/usd trade went the other way because total market capital for all cryptocurrency has hit an all time high. Currently at 128.556B. Otoh the eth/btc trade did take a dip as btc/usd market cap has increase more versus eth/usd market cap. On the 4 hour for eth/btc I see a 50-200 happening probably within the next 1-5 days. I am closing this idea as a loss, but keeping my eth/btc position open and then going long once significant profit has been hit.
Trade closed: stop reached:
closing this trade idea, this one was a loss. charge it to the game. gonna leave it up here to show my losses and wins.
4 hour t-k cross shows bearish, but may very well change soon
4 hour 50-200 EMA shows a bullish TK cross occurred already. Generally speaking this would normally be a signal to go long, but fundamental events and other proprietary data says events are neutral - bearish. Meaning this is not a good time for a pump just yet.