Last week review:
As per last Monday's analysis: "Daily chart looks it will test low again".
And it test it successfully when one of the major trading center close, causing some of selling orders find no buying orders.
Stop loss orders plus panic selling, the price was falling to around 170 level(280D SMA).
After this major trading center reopen, price rebouce...
Box moving counter 30 days MA pressure, last week range trading around 200 to 230 range.
Daily chart looks it will test low again, but not very strong.
Weekly chart looks moderate bullish, but not strong.
This week out look seems still in Range trading for finding new direction.
This range trading situation is very...
Ethereum USD pair continue Range Trading Between 180 DSMA to 400 DSMA
Last week dumping expected as we mentioned in last post
Be caution of the Sunday Dumper
This week might continue the accumulation period pattern: Box Trading between 180 D...
Be caution: Sunday Dumper has a habit and love to dump on Sunday and Monday.
200 is a key support level.
200 days SMA also provide a good support.
Sunday Dumper might want to dump for testing this level again, therefore, be caution of that.
We plan to Go Long more if we detect the dumping is a Push Down to Buy by the key players.
(230 is key Pressure)
Can 200 be hold?
Or it will test 200 D SMA(Simple Moving Average)? Can it be hold?
After Facebook release stable coin Libra plan, market was in a happy outlook.
But Libra causing lots of concern from major central banks and governments, and a Twitter from Trump, US President, let the market drop sharply. Now market is in a panic selling. It is in a communication...
After range trading from 270 to 324(50 DMA to 500DMA), the weekly chart is still looking moderate bullish pattern.
Let's see if 500Day MA could be breakup or not,
IF it could be breaking it up, then a triangle upper pressure will be around 335 to 352.
(Triangle pattern is illustrated in yellow color on the chart.)...
After another bullish run from 230 to 360, the Ethereum US Dollar pair counter the big pressure of the Neckline Zone: from 330 to 360. The neckline zone happen to be the range between 500D SMA to the previous low around at the end of March 2018 to the beginning of April, 2018.
The daily and weekly chart is still bullish, it...
Accumulation and Range Trading Between 228 to 274, which is among the 365D EMA and 400D SMA. And break 400D SMA high already.
Key Resistance is 274 to 280
Key Support is 225 to 230
Now major role is Bitcoin lead the way, Ethereum is a gentleman a little lag behind Bitcoin bullish trend.
Let's see market development next.
Maybe not. If yes, it could be a very short period of time in one days of the next 2 weeks.
Our bias are listed as following, and maybe we are wrong:
1. The bull stand above 365 days, 400 Days, and 550 days EMA for 17 days. It means it stand firm above 365 days EMA. (key support)
Please observe that: 550D EMA is the highest figure of EMA system.
Narrow Range Trading.
While the other major Alt-Crypto Currencies breakup their resistance, the Gentleman Ethereum VS USD pair is still narrow range trading between 265 to 276 range.
If we look at bigger daily chart:
It looks like want to test last Aug to Sep's High Said: maybe around USD305.
Last week, It is the 4th time that the Ethereum VS US pair trading volume in > 3 Million in Coinbase. (3.18M, week of 13th, May, 2019)
Let's observer the previous 3 times that trading volume > 3 Million in Coinbase Alt-Coin Exchange.
1st time: The week of 13th March, 2017
--Trading Volume: 3.72M
--Weekly closed: around 43
--After that week, price went up to:...
Leading Golden Cross : VWMA cross at 143 on 3th of April, 2019.
SMA Golden Cross at 147 on 18th of April, 2019.
Log EMA Golden Cross at 161 on 13th of May, 2019.
And final confirmation Golden Cross: EMA golden Cross is expected on 20th of May, 2019 at 181.
*Golden Cross: 50 moving average cross above 200 moving average.
Now, The market major role is Bitcoin. Bitcoin finally back to normal range after last year unreasonable price drop down to around 3100 US dollar area(Lower than cost to cover power consumption cost for mining) starting from Nov., but at that time market was in a very bearish psychology status, we have our long positions at that moment, and added our long position...
It breakup the key downtrend resistance Line (RED Zone) with volume minor increased.
And it face to challenge the EMA200 Major Key Resistance area.
Need, Need, Need Volume to have a Real Breakup.
Otherwise it might be a Fake Breakup...
Possible 2 Development Scenario:
Scenario 1: Real Breakup (Lime Color Line)
It might be developed in Rev-H&S pattern to break...
Market Development might be as following 2 Scenario:
Real Bull Scenario:
If Breakup plus volume enlarge, after that backtest and getting support above the current Key Resistance Zone (EMA 180+190+200).
Fake Bull Scenario:
If Breakup, but volume remain small, after that backtest with no support + free fall. It will be a fake one.
Which one will it be...
Recent dumping's reasons maybe
-Major reason is causing by an unstable "Stable Coin", the fund panic swift to stable heaven coin "Bitcoin", and then swift from "Bitcoin" to another Stable Coin.
-Plus some Long position taking profit from the market.
Thanks for the drop, and we go Long while this dumping while it testing the SMA golden cross. :)
When we draw...
We observe the following 2 interesting figure:
First interesting Figure:
Price drop from 178 to 147 is about 17% off discount. (26th, APR. VS 24th, APR, 2019)
Price drop from 178 to 161 is about 10% off discount. (25th, APR. VS 24th, APR, 2019)
At the same trading time from 20:00 to 12:00, the trading volume is about 2.5 times larger for the bigger discount....
We are bullish since Dec 2018, and we are still keeping bullish.
After EMA(39+145) and SMA(50+200) golden cross, we plan to add more Long positions for our long-term investment.
Surely we do very short run daily hit and run trading, too.
Some time we were stop-out, and some time we profit taking for hit-and-run trading.
We don't think we can buy it at the...