Here we have ETHUSD 1D chart.
After reaching our target perfectly from last update we need to take a breathe with ethereum and correction or pullback or call it as you want.
By watching the same previous levels to correct we will notice a left shoulder is formed before and now we are in the right shoulder, so we need to reach 170$ levels to confirm...
Here we have ETHUSD 1D chart.
The rising and falling wedge patterns are similar in nature to that of the pattern that we use with our breakout strategy. However because these wedges are directional and thus carry a bullish or bearish connotation.
Here with EThereum we have a perfect wedge, but we have many important points to discuss:
Th last ETH move was strong and fought it's way past every intracloud support, but only after first rejecting from that same path and finding it's way through at lower levels. The 4Hr cloud again proves to be one of the most powerful timeframes, the ideal balance between big-picture 8H and Daily, but reducing a lot of the noise seen on :15 and :30 min TimeFrames....
We have retraced almost 100% of the huge up move we had last summer(2017) until January(2018). There are two MAJOR support levels left on ETH ( light blue horizontal boxes on chart ). Starting to accumulate VERY low leverage longs here could be a good play. Make sure the risk to reward is at least 2:1. Also at TP1 close 33-50% of you position and move stop to...
Here is an answer.
Many are asking why aren't Etherum and altcoin moving with BTC
While prices seem to mostly follow the same line, some subtle difference can have huge consequences
This is exclusively from a TA stand-point.
Notice how BTC allow for ETH a second chance at a failed pattern
And how that same failure was due to BTC correcting after completing it's...
RSI just confirmed the breakout,
Most indicators are now reset, so there isn't much else to say
I have 3 TP above where price might turn
Looking at alts such as IOTA, BCH an XRP, i'd say wave 3 was probably the top of wave 1, this count would bring us to the target on top
1) Trend analysis
We have the descending channel of the downtrend
We had the rising channel of the swing high
And we've just established a new base channel
2)Support and resistance
We have tested 480 twice and failed both time, it's the LAST resistance on our way out of the downtrend
We have confirmed 450 as a support, if this level break... Well...
Our previous extended analysis was based on IHS formation which was broken at past price movement levels. However there is one more chance for Ethereum to complete this pattern.
Indicators are mostly in neutral or bearish state, however it is due to recent growth and entering Ichimoku clouds zone. Hence the growth should continue till the upper edge of green...
Current market fall caused by BTC price decrease affected ETH market. However this decline will form reversed H&S pattern. This combined with indicators status will force the price move up till it reaches previous heights. Before this happens we expect a little drop to Fib 0.786 support level around $640. Overall the market seems to be fine and should be bullish...
The pretty same story as BTC. After H&S was formed the price went down and is currently is about to reach Fib 0.786 support level where can be a bounce back. Threats are the same as for BTC the price is at the edge of lower Bollinger line and red line of Ichi cloud is above the green line. However Stoch RSI and MACD are positive and in case of volume increase...
ETH appears to be trending 12345, ABC, 12345 micro waves, within a macro wave.
Short term support levels are shown in purple horizontals.
Upper support would be circa $880, failure to break and sustain price above this, may see ETH trend within the ST bear range.
Previously ETH has been trading in the bullish green zone, however failure to sustain 880, saw...