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ETHEREUM / OPTIMISM (NATIVE)

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$ETH Ethereum Inverse DistributionIf we were to assume ETH was in an accumulation phase, referencing a potential Adam & Eve double bottom forming on higher time frames, we would expect to see "inverse" distribution on the lower time frames. The adam and eve double bottom is essentially an accumulation range, and the breakout would be the top of the range or neckline. Ideally youd want to see the breakout point broken, and a checkback or retest. This is an inverted chart breaking down the distribution and reaccumulation, which in turn would represent accumulation within the normal context of the chart. This is a bias exercise and its too early to validate the adam and eve bottom, but underneath this inflection zone, it would make sense to go test the bottom of the range next on this chart. Which would imply a test of the neckline without the inverse context. Just an idea for now, but it does appear we are setting up for a continuation.
Long
by TradingNomadic
1
Ethereum to $2k** swing trade opportunity - trade only ** Ethereum is in a bear market, however there will be bear market rallies from time to time. This is now the expectation. On the above 2-day chart price action has corrected 80% after a 5000% rally from the 2020 March lows. Now is an excellent long trade moment. Why? 1) The ‘incredible buy’ signal prints. 2) Regular bullish divergence. Seven oscillators are currently printing bullish divergence with price action. 3) Broken RSI resistance. 4) Everything that was said above is also true for the ETH/BTC pair. 5) Price action is testing the 0.382 Fibonacci level. Ethereum loves this level, history shows that time and time again. Is it possible price action falls further? For sure. People are petrified. Retail traders can't sell fast enough in patient hands. Is it probable? No. Ww Type: trade Risk: <=6% of portfolio Timeframe: 1 - 2 months Return: 2x 2-day ETH/BTC pair
Long
by without_worries
39
ETH measured move = DoomPut your tinfoil hats on for this one folks. I felt compelled to post this (yes, my first on TV) after running across this. Ethereum is currently in another bear flag, as is BTC. If we consider a measured move from the last pattern we can see that it would end up at around $200. Now granted that's a pretty horrific move from here. The sheer coincidence is when I put that into a log scale. Seeing this line up with the lower trendline gave me shivers. We know that the crypto market is in turmoil right now with the 3AC, Voyager, Luna debacles etc.. And then there is the global macro on top of that. So anything is possible, as is the usual saying anyways with crypto. What do you think about this?
Short
by timbrecoin1
3
start your engines. look 4 pump after dump hereeth run to 1270 small rejection choppy action (esp 1250-1350) up to 1450/1470. from there look for a rejection at 1500 to max 1700 ALTs to follow really strong after 1350 and 1450 personally like many but stick to majors or whatever you r comfortable with DOT UNI ADA SUSHI AAVE YFI CRV VGX CRO COSMOS ENJ MANA SAND ZKS SNX OP OCC n more FYI if we did see a break out I would want to see major support at 1300 to 1500 so that 1300 to 1700 block can see some action with a 2k rejection and build from there to 3k etc. whats more likely is a cold savage rejection at 1700 ish as blood pours in the streets and what left of ALT market dies. in that scenario stink bids on eth from 870 to hi 400s maybe 500s (ie buy orders at 900 to 600) if you do see some alt action here just look to move quickly and dont get stuck holding the bag. profits will be spectacular but this middle lane not bear or bull gets tricky so try to not spread to thin and keep as much dry powder in stable coin etc you can mentally handle. like TraderMayne always says "I would rather show up to the rite party late then the wrong one early" HMG out ya all
Long
by HustleGrindMomentum
SHOOTINGSTAR CANDLE IS GOOD WAY TO SHORT ETH. JAPANESE homageWell, high tide followed by low tide, followed by high tide... The market always in motion - it is , as Japanese say 'A floating world' A pin-bar top candle is aptly named Shooting Star in Japanese candle formations. As we owe the invention of candles themselves to the Japanese, and specifically the shooting star, it brings Japanese ideas of the world. Such as the EPHEMERAL state of everything , including prices. Beautiful art. The term Ukio-e translates as "picture of the floating world". en.wikipedia.org Be flexible the way of the water u
Short
by cure4virus
Thoughts on ETH - upward channels and downward channelEth seems to be traveling in 2 opposing channels. A narrow upwards channel, and we might be forming a wider downward channel. The channels provide good support (entry) and resistance exit areas. We are currently in the upper half of the downward channel and the longer we stay there, the higher the probability to break out of it. The yellow arrow shows just one potential scenario that I think has a fairly high probability.
by Moon_Boy_Crew