The price is trying to break the main downtrend dynamic and the middle of the channel. After we break it - we gonna go to the upper targets. Zones of interest and targets are on the chart. Good luck everyone!
This is just my opinion and view of the market. Please keep this in mind and consider in your trades.
Hit "Like" if you like my analysis....
Watching for the ADXVMA to flatten out and go yellow. When that happens I'll be looking for a bearish hammer on the day chart around the $225 area as a signal to short this with a target of around 150.
No trade yet but it's something I'm checking at least once a day.
We hit a long time promoted level 184-187 area
ut the picture looks a little different now so few things can happen now!
-One more wave to the down to the area 166-170
-Touching previous low at 202 corrections and breakout
So Black or...
entry : 208.94
stop loss : 223.27
target : 160.37
R-R : 3.39
It looks clear to me.
+)I am considering accumulating eth for long-term holding about 150~158 usdt area. going to post macro view of eth next week with technical analysis and some data analysis.
Just keeping it short:
With a BEARISH Divergence looming in the background and the current trend is down, along with BTC Dominance to go higher, ETH has further downs to go.
4 HRLY Chart: Bearish (Hidden) Divergence.
Daily Chart: RSI supports the hypothesis
Spotted potential Bullish Butterfly structure on Ethereum. This pattern represent completed corrective pattern from the previous ETH massive uptrend move in 2017.
Oscillating indicator signalling upside, conforming with the wave counts.
Sure, the market could go other way :) . Or it could follow the Wolf's waves pattern for now (up to Sep.11-15)- it will be my choice.
1st target - 235...245.
Ether has enermous potential despite the market current attitude. Just try to understand its defi platforms (decentralized finance) ...
My current Elliot Wave count of BINANCE:ETHUSD
1W log chart
2W log chart
1M log chart
So, in current situation it will be ok to take some local short position.
I prefer to take 1 leveraged short
Ethereum has outperformed a lot of other altcoins, it has shown decent growth.
Yesterday, the entire market made a pretty big drop and Ethereum is not an exception. Technically it was a classical role reversal, 2018 April support level became resistance around $360:
The market is currently a bit unpredictable. To make good...