Ethereum forming Head & shoulder pattern.Ethereum is forming a head and shoulder pattern on a daily time frame after retracing the fibonnaci level of 38.2% and 20 DMA.
The coin has given a nice movement and is retracing before another up move.
The coin is trading below the moving averages.
Two confirmation patterns are being formed in the coin on the daily time frame
1. Head and shoulder pattern
2. Bearish III continous pattern
A down side moment can give nice targets as there a 3 confirmation.
1. Trading below 20 ema(daily time frame).
2. Break of Head and shoulder neck line.
3. Volumes are high.
Support :- 1390, 1245.
Resistance :- 1715, 2000
US markets fell about 1000 points (3%).
The crypto markets can also fell the pain.
Wait for the coin to break the support and form some price action near it.
Ethereumbitcoin
Ethereum trading view for next week 11/04/22Ethereum has streched for contunues week
and changing the trend near the support
level.
Its taking support from the 20 ema on a
weekly time frame.
The price has tested the
support and has given a upmove.
On daily time frame too there is a bullish
momentum in the price as its taking support
from 20 ema and has given a cross over in
the moving averages.
Ethereum can run either side as its trading
between 20 and 200 ema on 4 hour time
frame.
Support :- 3100, 3020, 2950
Resistance :- 3434. 3675
It has support near its trading price and can
reverse form the support.
On a short time frame there can be a
resistance at 3320.
So wait for the price action near the levels
before trading the coin.
Ethereum gives a nice breakout of "W" Pattern.Ethereum has streched for contunues week and changing the trend near the support level.
Its taking support from the 20 ema on a weekly time frame.The price has tested the support and has given a upmove.
On daily time frame too there is a bullish momentum in the price as its taking support from 20 ema and has given a cross over in the moving averages.
Ethereum can run either side as its trading between 20 and 200 ema on 4 hour time frame.
Support :- 3100, 3020, 2950
Resistance :- 3434, 3675
It has support near its trading price and can reverse form the support.
On a short time frame there can be a resistance at 3320.
So wait for the price action near the levels before trading the coin.
💡Don't miss the great buy opportunity in ETHBTCTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.034900).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. Ethereum / Bitcoin is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 52.
Take Profits:
TP1= @ 0.0390
TP2= @ 0.0405
TP3= @ 0.0430
TP4= @ 0.0460
TP5= @ 0.0500
TP6= @ 0.0540
SL= Break below S2
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💡Don't miss the great buy opportunity in ETHBTC Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.026600).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHBTC is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 54.
Take Profits:
TP1= @ 0.027650
TP2= @ 0.028600
TP3= @ 0.029500
TP4= @ 0.030900
TP5= @ 0.032230
SL= Break below S2
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💡Don't miss the great buy opportunity in ETHBTCMidterm forecast:
While the price is above the support 0.02450, resumption of uptrend is expected.
We make sure when the resistance at 0.03330 breaks.
If the support at 0.02450 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 0.03365 on 11/24/2020, so more losses to support(s) 0.02630, 0.02520 and minimum to Major Support (0.02450) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 30.
Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (0.02630 to 0.02520). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
. Beginning of entry zone (0.02630)
. Ending of entry zone (0.02520)
Take Profits:
TP1= @ 0.02845
TP2= @ 0.02965
TP3= @ 0.03185
TP4= @ 0.03330
TP5= @ 0.04045
TP6= @ 0.04850
TP7= @ 0.05695
TP8= @ 0.06955
TP9= @ 0.08550
TP10 = Free
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💡Don't miss the great buy opportunity in ETHBTCTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.030040).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHBTC is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 59.
Take Profits:
TP1= @ 0.032300
TP2= @ 0.033610
TP3= @ 0.035200
TP4= @ 0.037100
TP5= @ 0.040490
SL= Break below S2
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💡Don't miss the great buy opportunity in ETHBTC Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.030290).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 46.
Take Profits:
TP1= @ 0.032540
TP2= @ 0.033610
TP3= @ 0.035200
TP4= @ 0.037100
TP5= @ 0.040490
SL= Break below S2
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ETHBTC Update: Profit=64800 SL=10200 Reward/Risk > 6.3:1 Trade Setup summary:
Profit targets=64800 pip (2000 + 3900 + 6300 + 12300 + 17100 +23200)
Stop Loss =10200 pip
Reward/Risk > 6.3: 1
Current Status:
Total Profit: 27850 pip
Closed trade(s): 27850 pip Profit
Open trade(s): 0 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 0.025330 based on 'previous Forecast' at 2020.07.16 :
Closed Profit:
TP1 @ 0.02650 touched at 2020.07.22 with 1170 pip Profit.
TP2 @ 0.02850 touched at 2020.07.23 with 3170 pip Profit.
TP3 @ 0.03060 touched at 2020.07.25 with 5270 pip Profit.
TP4 @ 0.03360 touched at 2020.08.02 with 8270 pip Profit.
TP5 @ 0.03530 touched at 2020.08.14 with 9970 pip Profit.
1170 + 3170 + 5270 + 8270 + 9970 = 27850
Technical analysis:
. ETHBTC is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 73.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.03530) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP5= @ 0.0373
TP1= @ 0.0392 (New)
TP2= @ 0.0416 (New)
TP3= @ 0.0476 (New)
TP4= @ 0.0524 (New)
TP5= @ 0.0585 (New)
SL= Break below 0.0336
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Don't miss the great buy opportunity in ETHBTCTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.03307). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ETHBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 0.0336
TP2= @ 0.0339
TP3= @ 0.0344
TP4= @ 0.0352
SL= Break below S2
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ETHBTC Update: Profit=29850 SL=4500 Reward/Risk > 6.9:1
Trade Setup summary:
Profit targets=31000 pip (1400 + 3400 + 5500 + 8500 + 12200)
Stop Loss =4500 pip
Reward/Risk > 6.9 : 1
Current Status:
Total Profit: 14750 pip
Closed trade(s): 4340 pip Profit
Open trade(s): 10410 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 0.025330 based on 'previous Forecast' at 2020.07.16 :
Closed Profit:
TP1 @ 0.0265 touched at 2020.07.22 with 1170 pip Profit.
TP2 @ 0.0285 touched at 2020.07.23 with 3170 pip Profit.
1170 + 3170 = 4340
Open Profit:
Profit for one trade is 0.028800(current price) - 0.025330(open price) = 3470 pip
3 trade(s) still open, therefore total profit for open trade(s) is 2670 x 3 = 10410 pip
Break Even 0.025330
Technical analysis:
. ETHBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 76.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.0265) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP2= @ 0.0285
TP3= @ 0.0306
TP4= @ 0.0336
TP5= @ 0.0373
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ETHBTC Update: Profit=16000 SL=1800 Reward/Risk> 8.8:1 Trade Setup summary:
Profit targets=16000 pip (2100 + 5100 + 8800)
Stop Loss =1800 pip
Reward/Risk > 8.8 : 1
Current Status:
Total Profit: 20670 pip
Closed trade(s): 9610 pip Profit
Open trade(s): 11060 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 0.025330 based on 'previous Forecast' at 2020.07.16 :
Closed Profit:
TP1 @ 0.02650 touched at 2020.07.22 with 1170 pip Profit.
TP2 @ 0.02850 touched at 2020.07.23 with 3170 pip Profit.
TP3 @ 0.03060 touched at 2020.07.25 with 5270 pip Profit.
1170 + 3170 + 5270 = 9610
Open Profit:
Profit for one trade is 0.03086 (current price) - 0.02533 (open price) = 5530 pip
2 trade(s) still open, therefore total profit for open trade(s) is 5530 x 2 = 11060 pip
Technical analysis:
. ETHBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 71.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.0285) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP3= @ 0.0306
TP4= @ 0.0336
TP5= @ 0.0373
SL= Break below 0.02790
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Don't miss the great buy opportunity in ETHBTCTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.023). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Etheremun/Bitcoin is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 86.
Take Profits:
TP1= @ 0.0249
TP2= @ 0.0280
TP3= @ 0.0347
SL= Break below S2
There is a Second Chance to Buy in ETHBTC ...New trading suggestion:
*The price is in an uptrend and we forecast the uptrend would continue.
* There is still a possibility of temporary retracement to suggested support line (0.07200). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Midterm forecast:
While the level 0.07200 is not broken, the Midterm wave will be uptrend.
Technical analysis:
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 48.
Take Profits:
TP1= @ 0.06050
TP2= @ 0.07200
TP3= @ 0.07750
TP4= @ 0.08600
TP5= @ 0.10000
TP6= @ 0.11050
TP7= @ 0.12150
TP8= @ 0.15150
TP9= Free
Trade Setup:
We opened 9 BUY trade(s) @ 0.05474 based on 'Hammer' entry method at 2018.04.04.
Total Profit: 17562 pip
Closed trade(s): 4578 pip Profit
Open trade(s): 12984 pip Profit
Closed Profit:
TP1 @ 0.06050 touched at 2018.04.11 with 576 pip Profit.
TP2 @ 0.07200 touched at 2018.04.24 with 1726 pip Profit.
TP3 @ 0.07750 touched at 2018.05.03 with 2276 pip Profit.
576 + 1726 + 2276 = 4578 pip
Open Profit:
Profit for one trade is 0.07638(current price) - 0.05474(open price) = 2164 pip
6 trade(s) still open, therefore total profit for open trade(s) is 2164 x 6 = 12984 pip