Ethereum Cup and Handle, possible Death Cross 4hr ETH/USD [BTFD]

POLONIEX:ETHUSDT   Ethereum / Tether USD
What are we going to do with ETH?

already seeming a little outdated with EOS, NEO and a few others on the scene ready to replace one of 2017's best movers

price action from Bitcoin has lead to numerous formations of Cup and Handle on many strong USDT Altcoin pairs such as ETH/BTC

Death cross on the MA (100/50) will help with the short and then looking to long after it hits $450 level, possible it could go lower if bitcoin prices go down, so just becareful with this in mind

Fib retrace shows best poss support and resistance or use it to set TP points - any questions, join us in our Telegram group

So pretty easy trade, shorting ETH down to previous levels in green box seems pretty safe and price should return upwards towards the neckline of the C&H formation

Sentiment on ETH for 2018? im fairly bearish on this coin, although we may see ATH's again im pretty sure it won't have the domination it had in 2017 due to competition, no user governance, gas prices, kitties you name it... Eth has been a great way to show smart contracts and other abilities for the blockchain, other 'newer' and 'better' coins will render ETH old hat, as for example EOS will be easier to use, better GUI's, more safety features, and most importantly be able to scale up

good trades to you all

Comment: if it breaks down further this play is possible

Trade active:
Trade closed manually:

MA cross throws a Golden, kinda invalidates the set up and best possible shorts

trade closed
Comment: i might have posted this too early and if the price comes down and closes the cross on the candle it can neutralize the signal, if so will reopen trade

RSI looking to turn bullish, still not happy to short this yet
Order cancelled: broke neck line
Death crossed used on Daily with 100 and 50 moving ave
majorlee mir-igor
@mir-igor, sorry what exactly are you trying to say?
thanks for your chart, and as I can see there is a chance to make (Cup + Hand) and then it will going up this what I can see in your chart, but if it is double Top it is mean it will g down.

+1 Reply
majorlee iSaleh
@iSaleh, thanks for your comment

due to BTC price action that will lead ETH/USDT with it, but these are strong levels at the fibs and previous lows

im not sure i would call that a double top, but your eyes maybe seeing something different to me, as double top usually comes into play on bull run and looking to reverse towards a bearish run
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