I feel like this is getting ready to explode higher
ETH could have potential resistances outlined above (red horizontal lines). Round number targets for my open trade remain around $600 and $700 by end of December
Inverted head & shoulders potentially forming...could break out
Self-explanatory, see chart for details. Lets see what happens
ETH is gearing up for a massive pump against BTC
Testing the short term support line, we might see continuation if it succeeds. I've reduced my position by 25% since we're near the top of the rising channel.
Looks like after the breakdown from the rising wedge pattern, ETH has created what appears to be a rising/ascending channel formation, which could mean that $480 retest is in play. I increased my position after the breakdown to 440-450 range - trade active
This divergence is looking risky...momentum for this rally appears to be waning at this point but I still think $500 is in play
After a failed breakout, ETH continues its consolidation but appears to be forming a rising wedge, which can be bearish in the short term. I may take some profits around the 460-470 range. BTC is showing strong bullish signs if it can close above $16,000 today, so alt-coins may see lower prices in the short term as the BTC bull rages on.
ETH consolidates over the next 2-3 days before deciding a direction. I'm currently long.
It took two days for ETH to advance from $450 (currently around where ETH is hovering today) to $700s back in Dec 2017. This shows the short term potential of price explosions IF we are indeed in the early phases of a bull market, as some analysts and news reports have suggested. Smart money is buying and accumulating Bitcoin and ETH.
Thinking about jumping back in, but waiting for confirmation that this descending Triangle is signalling a trend continuation or if it's a trend reversal. If trend continues, I'll open long around $15.6k.
If we are indeed entering a mini-alt-coin season, ETH can potentially test the $650, $800, then $1000 levels in a few months time. BTC has already reached near 78% retracement of its ATH. ETH is sitting at 23% - lots of bullish potential here.
ETHBTC pair is at major weekly support (100 week SMA and trend line)...could lead to a reversal as BTC cools off from its bull run
ETH is sitting near the 100 day SMA and this is a crucial point that has held up numerous times throughout the year...if this breaks, we may see a significant downside risk, much like March...but...I'm not seeing the momentum yet. I'm cautious at this point, but overall Long.