Long
ETHBEARUSD trade ideas
Elliott Wave Theory + Wyckoff TheoryThe Elliott Wave Theory is interpreted as follows: Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move. The underlying 5-3 pattern remains constant, though the time span of each wave may vary
ETH/USDETH/USD(Bitfinex)
Ethereum has seen a price jump due to the hard fork fever but couldn't manage to sustain momentum and dipped 25%+ recently after the hard fork got over.
Bullish Case:
After the recent drop it tested the support level of $116-$117 and jumped(15%+) to $131 price level recently.
If it manages to hold this level $116+ and breaks $151+ price level then we might test $200 level in the coming days/weeks.
Bearish Case:
It manages to break the long term downtrend-line(dotted line) but couldn't sustain above it long enough due to recent sell off.
If it doesn't hold the $107-$111 level then it might see price level below $80 in the coming days/weeks.
Overall the recent case of price movements for ethereum has been "Buy the rumour , Sell the news" example which happen quite often in cryptocurrency.
Etherem Latest Daily Chart Analysis - Crypto Bhaiethereum has recently hit the bottom around 84 usd. and bounced back frrom 84 to 160 usd. now
resistance of ETH/USD is at 160 USD Approax.
and 2nd resistance of ethereum is almost at 180$
ethereum can easily go upto 180 USD in 10-15 days as the news of ethereum is huge regarding hardfork
DYOR before taking any posiiions as always
Ethereum Head and shoulder successfully completedLook how exactly the Head and shoulder pattern completed after the neckline was broken and it reached the box range.
And bounced right from the box as that range acted as the support.
Ethereum Long-Term ViewEthereum
Overview
Ethereum(ETH) has suffered about 94+% correction(drop) since the all the time high-level point($1425) reached in January’18.
One key point to note that its following similar trend/pattern to Bitcoin of upward and downward movement in the market.
Let's analyze price action for Ethereum (ETH/USD) over the long term and proceed to highlight any potential areas of support and resistance moving forward.
Long-Term Analysis (Monthly Timeframe)
Scenario 1: Bullish (Uptrend)
If the Monthly candle (December) closes above $102 price level with strong buy volume then we might see the price the testing the "Resistance(Sell) Zone 1" ranging from $199-$278 within few weeks/months.
If it manages to close above "Resistance(Sell) Zone 1" then it will retest "Resistance(Sell) Zone 2" ranging from $407-$521 within few months.
Few other factors in confluence with the bullish scenario:
1) Stochastic RSI is in the Oversold Region (its a region where asset price is likely to rebound or bounce).
2) Selling Volume (red bars at the bottom of the chart) is declining i.e. sellers are getting exhausted.
Scenario 2: Bearish (Downtrend)
If the Monthly candle (December) closes below $102 price level with strong sell volume then we might see the price testing the "Support (Buy) Zone 1" ranging from $47-$60 within few weeks/months.
If that support zone(1) doesn't hold up (no buying pressure) then we might see "Support (Buy) Zone 2" ranging from $11-$15 which is not a healthy sign.
Factors in confluence with Bearish Scenario
Support Zone 2 ranging from $11-$15 is the High of the previous resistance zone of September 2016.
Scenario 3: Ranging Scenario
Ethereum did range between price levels $173-$248 for 3 months (September-November'18) before making a major move downtrend to $80's price level.
There are permutations and combinations you can apply between different zones (Resistance and Support) on the chart to form Ranging Zones.
These are areas where major market participants (Institutional Investors) accumulate before a big change in direction of the price.
Note: Monthly time frame charts illustrates the movement of price over a long-term horizon and are most often used by long-term investors.
Short-Term Analysis (Daily and Weekly)
Scenario 1: Bullish (Uptrend)
If Ethereum closes above $115 in weekly time frame then we might restest "Resistance Zone 1" ranging from $156-$184.This zone will be difficult to break or surpass since it could have acted strong support but couldn't. Hence, it will require greater buying pressure(interest) to go through this zone.
If it manages to break with large buy volume then chances of next bull cycle happening is likely.
We get the confirmation of next bull cycle happening only when it breaks the "Resistance Zone 2" ranging from $360-$400.
Scenario 2: Bearish (Downtrend)
If Ethereum weekly candle closes below $83 price level then there are two Bounce(rebound) zones namely Support Buy Zone 1 ranging from $40-56 and Support Buy Zone 2 ranging from $11-15 in coming weeks and months for potential Bullish reversal.
News and event analysis:
There are few development news(catalyst) coming in the month of January,19 like Constantinople mainnet hard fork is scheduled for block #7080000, estimated around the 16th of January, 2019. Constantinople features changes designed to increase the platform’s efficiency, alter its economic policy and delay the so-called “difficulty bomb,” a piece of code meant to encourage the network to alter its core consensus algorithm(Proof of work) to Proof of Stake algorithm.
Secondly, There is an Ethereum Nowa(ETN) fork.
What is ETN? ETN is the abbreviation of Ethereum Nowa, and also the blockchain assets and currency code of Ethereum.
What is the fork time? January 12, 2019
Each ETH holder receives ETN in the ratio of 1:1 for free.
Conclusion:
Ethereum remains in 3rd position, in terms of overall market cap rankings along with Bitcoin and Ripple.
The 40-month-old coin is now experiencing its first bear market and has already corrected enough(94% down) to commence its new bull cycle in coming weeks/months.
Overall cryptocurrencies are seeing a lot more green(price surge) over the past couple of days and there are speculations that the crypto winter might be over as buyers are returning.
Utility(real use cases) of any crypto asset will eventually become a key point for the growth in the cryptocurrency industry.
ETH breakout.. bounce playbe extra careful in bear market
place stop loss
since the market depends on BTC
BTC is on 1W 200EMA
BTC positive tick on histogram 1D
stop loss 110
target 1 : 140
target 2: 150
take every TA with a grain of salt
even though i wish i was a god i can be wrong many times
happy trading
please leave a like :)
[EDUCATIONAL SERIES] ETH - CHANNEL BREAKOUT TRADING STRATEGY--INETH - CHANNEL BREAKOUT TRADING STRATEGY
Hi there,
Please LIKE and COMMENT below if you find this idea useful ^^
All the best,
Vincent D. Ng
Disclaimer:
The idea presented is solely for educational purposes and does not constitute investment advice.
Investors should have personal risk assessment before any attempt to trade. We is not responsible for profit/loss arising from your investment decision or any trading activities
The idea is intellectual property of Vincent D. Ng . It's advised to cite source as reference when publishing on other media.
[EDUCATIONAL SERIES] ETH - Falling Wedge PatternETH - Falling Wedge Pattern
Hi there,
Please LIKE and COMMENT below if you find this idea useful ^^
All the best,
Vincent D. Ng
Disclaimer:
The idea presented is solely for educational purposes and does not constitute investment advice.
Investors should have personal risk assessment before any attempt to trade. We is not responsible for profit/loss arising from your investment decision or any trading activities
The idea is intellectual property of Vincent D. Ng. It's advised to cite source as reference when publishing on other media.
Ethereum analysis on 31 oct with fib levelsIf the support or resistance breaks there is a chance of up or down move a little.
ETH/USD Triangle Time For Long From 207 USD and Enjoy ProfitETH/USD Time For Long From 207 USD and Enjoy Profit upto 3 Levels.
First Target 217 , Second 228 , Third 250 and Stop Loss 200.
Let c.......
Stay Tuned........!!
Learn Here , Earn EveryWhere
