This is a long term idea, which is strictly dependant on a reversal (with volume and more then likely with the resurrection of baby bull Jesus- see my other BTC chart for details) at current levels ($80- 57).
The ethereum price seems to be following it's big brother's sell momentum. It is thus right not to try to catch this falling knifwe as well. The 1-hour chart shows price nearing the upper resistance of the descending triangle, and it makes us more confident that sells are the only way to go. As always, play it carefully with these cryptocurrencies as this market ...
As you know i have been calling for a panic low for ETH for a while now and expected a a possible low a week ago. That bounce we had was decent but there was no follow through and so it failed already. At the moment we are again at the low and now it is being tested to see if it becomes a double bottom or not.
On the right we can see a bear flag in the making. ...
We observe that Recent 10 days accumulated transaction volume is around 4 times to 5 times large than middle of October.
The 10 days accumulated transaction volume was around 800K to 1.3M during middle of Oct (15th, Oct) to 13th Nov.
The 10 days accumulated transaction volume was around 5 M to 6 M from 20th Nov. to current date.
Price keeping 83 to 100, a narrow ...
With Bitcoin $BTC finding new yearly lows, Ethereum has also been taking a nose dive. Looking at some historic support levels marked in the blue dotted lines as the final lines of support.
Below this, it looks like $14 $ETH or below will be reached, and it may look to lower levels if these highlighted levels of $80, $54, and $30.
In terms of charting this is a ...
ETH looking to be on thin ICE hitting last FIB ... next stop would be 81, 73, then 51 .... dont think we will get that low though if btc bounces at 2800 to 3K but it needs to be convincing not like previous dead cats ..
ETHUSD could free fall from here if BTC decides it is time to go down. With no support zone created in the past as it was mooning, It is time to take advantages of the inverse moon folks. The way back to earth can be just as lucrative than the way up.
Nice swing trade setting up. lets see if we break support first.
I believe that December is finished for cryptos. I would not place any hopes on the possibility that a monster squeeze is coming unless some news breaks that is so positive for cryptos that a mass of new money comes flowing in.
Long-term trend: BEAR
The shorts are strong and do not fear a small squeeze as the last 3 short squeezes have ...