We've recently found success identifying short opportunities for ETH/XBT and BTC/XBT using our K2 indicator.
The Indicator is based on the Commodity Channel Index(CCI). Specifically, it uses a modified fast and slow CCI, as well as upper and lower bounds, to pinpoint the ideal time to enter a short position.
On the graph, you can see the slow CCI shown in...
Price continues to trade within descending channel. We are close to seeing it decline below the 200 day EMA which I think will be the final nail in the coffin and we go down to double digits from there. Moreover, the RSI has also painted a bear flag, so brace for impact. Soon.
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ETHUSD ready to drop.
That's not a text book rising wedge, but I don't want to tell you how many times I have seen that play out!
Furthermore, the flag is pretty obvious and the result should and in a minimum drop of 40%.
I'm inn. Let's go!
Happy trading everyone!
Hi Traders! Welcome to this update analysis! Let’s get right to it! Looking at the Daily chart .
Now, before we get bullish or bearish , we have to assess the data on the chart.
If the most recent arrow is red, you should be short. If the most recent arrow is blue, you should be long.
Keep your Stop Loss at 5% of the price.
Looking back at the action...
The BITFINEX:ETHUSD is consolidating on the 270$ zone.
All we need to confirm a new bull market on this cryptocurrency is a breakout with a big bullish candle.
This kind of configuration is what we look for when we trade the price.
No need indicators in this chart, you can see a support zone at 228$
Do you own this crypto in your portfolio guys ? What do you...
I see a trend shaping in a similar pattern but this difference is the slope is almost double what it was before. unless this pumps out of no where in makes me think bearish in a mid-time frame. X>6months