IvanLabrie

ETHXBT: Analyzing the multiple signals on chart

KRAKEN:ETHXBT   ETHXBT
11 months ago
If we use Time at mode, we can detect patterns of accumulation and distribution, and use the order flow to position ourselves advantageously in any instrument, as long as there is sufficient liquidity in it to be tradeable.
In the case of Ethereum, we had a signal trigger in the weekly recently, which suggested a potential 170% rally would start, that would last up to 9 weeks.

The rally has exceeded the target, very dramatically I might add, but still has time left in it.
For the time being, I'll be observing the price action around the key support levels on chart, and monitoring for uptrend continuation signals to get involved in this market again.
The decline on chart has one more day left before it can be retraced, theoretically.
That being said, the fall has been considerably steep, showing increased volume , which makes me think this is profit taking in a large scale.

I reccomend caution, but if you want to hedge your BTCCNY             or BTCUSD             long exposure, maybe ETHXBT             isn't a bad idea, with sufficient technical arguments.
I'll update the chart as we move forward. The weekly uptrend shows there's time left until March 13th, so, stay tuned for updates.

Cheers,

Ivan Labrie.
11 months ago
Comment: After today's close, the downtrend is failing.
We might be forming a triangle here.
11 months ago
Comment: We have a new mode lower, it's possible to expect one more leg down from this zone. You can short with a 1 atr stop, or wait for the downtrend to end to go long.
11 months ago
Comment: In 3-5 days we can expect a new rally, IF we don't break down 45% before!
11 months ago
Comment: We might form a lower high/M top situation here.
11 months ago
Comment: Double top formed...not safe to short in general, simply stand aside until you get a clear long signal.
10 months ago
Comment:
snapshot


snapshot


Verdict: very little time to hit targets, and unlikely to go higher than the yellow line.
10 months ago
Comment:
snapshot
10 months ago
Comment: Upside is in serious question now, ETH has 3 weeks to hit the upper target including this one...It also has opened up the downside back to the uptrend starting point, in 8 weeks.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
EdCa
11 months ago
Do you think the uptrend just continued?
Reply
IvanLabrie PRO EdCa
11 months ago
Not likely for now.
Wait one day for my update.
Reply
EdCa
11 months ago
I also here theories about a massive dip towards 0.00405..
Reply
ambrosia PRO
10 months ago
It seems we have broken .0221. So more up?
Reply
IvanLabrie PRO ambrosia
10 months ago
Yes, possibly, but limited time for the rally, March 8-13 and then a downtrend can begin.
Reply
herkuljee
10 months ago
ethereum google trends and eth chart buddy-buddy
https://www.google.com/trends/explore#q=ethereum&date=today%2012-m&cmpt=q&tz=Etc%2FGMT-7
Reply
blackswan
10 months ago
one of your best analysis on eth. good job indeed!
Reply
IvanLabrie PRO blackswan
10 months ago
Thanks, with more chart data it's easier.
Reply
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