There could be a Bitcoin bull trap forming, so a retracement to 0.618 could be expected, unless we break the support, in which case we are looking at a reverse head and shoulders. Long term target still stands at around 775-800.
We took out 700 resistance and peaked around 745 - topped out, and quickly fell, Here's are my chart idea of what's happening.
So far it's still following the pattern I predicted, if it continues we could soon be seeing a bounce back to 685-700, some bull wicks are forming on the 15min chart, although the volume is concerning... After that we could see testing the 600 again.
Hello everyone ! Glad to say that we finally we have a confirmed breakout in the upward direction ! I'm feeling confident that we have established a bottom and we are looking to progress further. I was discussing volume in one of my earlier charts, I mentioned that the volume was lackluster and it was a concern of mine, however after further reviewing the volume...
This is my very first time doing some TA, I was looking to spot a pattern, so I'm not sure if this makes sense... I'm looking for some long term positions, and will try to play it out like this. Would love to hear some thoughts!
Hello everyone! My last chart didnt turn out as i thought it would, it's now clear that a ascending triangle almost fully formed. This is making me lean more to the bullish side, however i would still argue to trade with caution because we have moved up on relative small volumes. Typically, ascending triangles signals the end of a downtrend, a reversal. I have...
Hello everyone ! I'm say to sad that the volume we needed did not show up to break the current downtrend. On the 1 hour chart we have crossed over to a brearish state again, and we can see the shape of a head and shoulders pattern appear. We will go probably go down a bit, but the question is how much, and when to re-enter again. I have mapped out some possible...
Hello everyone ! I'm say to sad that the volume we needed did not show up to break the current downtrend. On the 1 hour chart we have crossed over to a brearish state again, and we can see the shape of a head and shoulders pattern appear. We will go probably go down a bit, but the question is how much, and when to re-enter again. I have mapped out some possible...
Hello ! Let's see whats going on the 6 Hour ETH EUR chart! We can see that we are progressing nicely but met some tough resistance at 700€ and got kicked down to the mid-low 600€, but the bulls pushed us back up, and right now we are hovering just below the 700€ resistance again. To successfully break 700€ we need the volume to increase, If we manage to break...
Hello ! Small update & adjustments on my previous chart, It looks like we are breaking out from the long downtrend line, i have expanded the uptrend channel a bit. Expect some sideway movements or even a small drop from the perhaps (again) Before we get another leg up (verify outbreak). Happy trading :)
This is my first effort to make sense of the charts. Don't follow me, I'm lost. Honestly have no FA or TA background and this is only a test. So, take it with a grain of salt and DYOR. Now, my limited understanding says that eth is testing and trying to gather support for a break out. It it doesn't find it, it will retrace back again. If it breaks out of the trend...
Hi, in January i posted an idea about Bitcoin when the Dead Cross was about to happen. When 10MA crosses 50MA. Now look at todays ETH Chart. It looks identical to Bitcoin in January.
Hello everyone ! Looks like I'm on a streak right now, made some good decisions lately and I'm really feeling the market, I Hope that i helped someone with my ideas. :) So whats the next move? Right now we have established a uptrend channel that still is valid, though while i was charting out everything i saw that there was an attempt to break the channel, as...
I guess everyone wants to know, where is the bottom at ? Personally I got my limit orders filled at 550€ and got some more orders waiting to be filled at 500€. So what about the bottom, this is just "for fun call" but what i can say is that 400€ is a SUPER bullish zone for ethereum, and has been a notorious resistance point in the past. If that zone breaks, I...
So what's going on, everything is crashing. Yeah, it is... For the people who are new to crypto this may look like this, but it's all a part of the cycles in this volatile space. Vertical movments always act this way, but if we take a look at the bigger picture here we can see that we went into a parabolic mode and we have now moved down all the way down to the...
I was initially bullish after the recent action when we saw the engulfing hammer shot us back all the way to 790€. I was expecting a decline after that, but i also saw the start of a trendline that would put us near previous support or 850-900€. I opened a long around 680€ that i closed prematurely - around 800€ because i was still unsure about the situation and i...
Made a pretty good call yesterday, and we are now in a good position for a longer trade. I took some small profits instead of closing my whole trade, as i originally planned to do. It looks like we have a new trendline targeting previous support levels at 850 and 900€. I think we will go there but,but expect a small decline or consolidation if we manage to touch...
We seem to have established a support around 685€ after dropping to a whooping 573€ and currently moving around in the 700€ area. I wont go too in depth because my technical analysis skills are very limited, but taking RSI and the volume behind the engulfing hammer thats formed, this is could be the end and of the current bear market, but beware and use risk...