Indications that support a long based strategy:
- Double bottom bouncing off of past months lows
- Rebounding from around the 0.786 retracement area
- Finishing up Elliots corrective wave pattern
- Making a responsive move back into the value area box
- Excessive supply is becoming overcome by responsive demand
The first identified spinning top signified a reversal in momentum, the second may indicate the same
3/1 Gann Fann acting as resistance level along with both 0.236 fib retracement levels with both 0.5 levels acting as short and longer term suppot lines
PPO starting to curve down relative to MA line
All indications pointing toward a small drop in price level with...
As the GBPUSD & JPYUSD trends turn downwards, the momentum and upwards trend in ETHUSD starts to showcase itself with the latter exchange rate in a currently ongoing elliot motive wave, along with testing the 0.786 resistance line
Elliot's motive and corrective wave formations perfectly illuminated within Ripples (XRP) wave formation throughout Q2 2017, while the development of the second set of motive waves of this quarter and soon to be Q3 2017's first set of motive waves have been moving up at a precisely a 45 degree angle since the ending of corrective wave C
As bitcoin has finished its correct from it's all time high it subsequently has formed into a contracting ascending triangle indicating a sharp increase once wave E has been reached which the analysis shows this having just happened. WIth momentum and RSI rising in tandem with the price increases supporting the analysis and long investment strategy.
As Ethereums price movement comes to the end of its horizontal triangle trend the indication is that a sharp correction will take place. This seems to be confirmed by the double gann fan analysis where Ethereums price movement has been moving between a resistance line held by the longer term gann fans 2/1 support line and the shorter term gann fans 8/1 line acting...
MACD AND RSI Indicators going through a downtrend dring an uptrend in the price index indicates a bearish divergence but the gann fans in conjunction with harmony indicator leads me to think that the effects of the bearish divergence may be possibly ending
Using the cross Gann Fans, the shorter term fan has been consistently holding the price uptrend within the 1/1-2/1 range while the longer term Fans continued and held the price downtrend within it's equivalent range of zone. RSI having risen above 50 and standing currently at 57 indicates that there is still a lot of room for pricing to continue upwards. The short...
Indicated by the bearish divergences within the month of May and the second half of April. Negative sloping RSI trendline indicates a continuation of sellers under pricing the asset, and MACD in low levels of momentum indicate that the trend reversal will continue downwards for a a little while longer (few days to a couple of weeks possibly). The fibonnaci speed...
Wedge formation indicates trend reversal forming, with the short term bearish divergence supporting this analysis. Longer term trend will continue once correction ends, which should be around 1530-1550 if it ends at first line of support as the fib retracement illustrates.
Ethereum Classic is currently undergoing the end of it's double bottom, indicating a sharp upturn in is incoming. While RSI is testing out its support lines and the MACD is currently falling, this is expected during the end of a double bottom. Using Elliot's correction and impulse wave we can confirm that the first bottom was the beginning of an impulse wave,...