The chart is the long view on Ethereum, and boy-oh-boy it is hanging on by a thread. Price is trying to make a triple bottom historically and a double bottom of this bear market in the 0.0023-0.0021 range. Every time it tries to breakout it gets rejected at the downtrend resistance. Best guess says that the only people that could be selling this much coin would be...
ETH should find support in the 0.0332-0.0337 area. There is horizontal support as well as support from moving averages in that area.
Entry: anywhere in the 0.0332-0.0337 range
Stop: under 0.0330
Timing of the reversal: 24-48 hours.
Alternatively under 0.0330 there will be continuation of the current downtrend from the local top.
Mood is shifting for crypto.
Ethereum took the lead and might do so for the next weeks.
Target is 0.055 BTC. Might coincide with 300 USD and 5500 USD/Bitcoin.
After that cooling down and finding some support.
Ascending broadening wedges breaking upwards , that might remind you something if you're not new to this. ETH against bitcoin has started showing nice recovery after breaking that bigger wedge with pink lines . I am already long from 0.027-0.028 range and my initial potential targets are indicated by those green line near the top of the wedge . That yellow wedge...
It's been awhile since I've posted a public idea. I learned a lot of things that do and don't work this year, now code a lot of indicators, and do a lot of things from different angles.
This one though seems pretty beautiful and straightforward. While I'll say that you can layer this with more indicators, I think distribution and volume profile tells the story...
Higher lows on the corrected ETH/EUR. It could be a case of Vitalik over-fudding for a chance to reinforce his long position. When he cashed out that 25% holdings some time ago, perhaps he hedged his ETH bets with a BTC margin long? So now he keeps shit-talking ETH to suppress the price as he simply adds more collateral, accumulating all his favourite margin...