ETHUSD.P trade ideas
ETH/USD forming this dangerous patternsETH is about to get rekt. rising wedge is usually a bearish pattern though it can break to the upside if support is too strong and it can act as reversal pattern.
ETHUSD: Time for the beast to yawnEthereum, making some moves and likely to show a bottoming pattern in place. Watch the levels for a possible dip (last chance to get on the long side) for a move to $370.
Longer term descending triangle target reached, followed by a bounce and a higher low while forming an ascending triangle pattern at the moment. 370 should be an interesting level to watch. A breakout above this could see something bigger shaping up.
Neutral for now, long once the mentioned level near 135 is tested.
ETH/USD Latest Analysis
#1 Key Highlights
* Support around $100+ level held strongly.\u2028
* 200H-MA(moving average) broken with buying volume.\u2028
* Ethereum(ETH/USD) price surged 20%+.\u2028
* $120+ resistance broken and retested.\u2028
#2 Chart Analysis
Ethereum trading $122+(Bitfinex) and showing signs of strong upward momentum.
Looking at the ethereum trends on Hourly(4H) chart timeframe, we can observe few bullish signs.It has broken short-term downtrend line(red) as well as 200H-Moving Average which was acting as strong resistance as stated in the article published last week.
If we look at the ethereum price analysis today on hourly time-frame(4H), it has penetrated through the Ichimoku cloud and needs to hold above cloud for further bullish momentum.Though Stoch-RSI indicator is in the oversold region(bullish) , MACD indicator is entering into the bearish territory.
Looking at the ethereum technical analysis today, It needs to hold the present level to test(touch) the immediate resistance(Red) around $140+ price level.Also, there is a possibility of a S/R flip at the current level but if it doesn't happen then we might see the $113-$110 price level as there is not upcoming ethereum news to act as a catalyst.
#3 Conclusion
Over the past 2 days, Ethereum (ETH/USD) has managed to move 20%+ while the entire crypto market remains in the strong momentum. Ethereum price analysis 2019 states it needs to undergo a corrective rally before continuing the bullish momentum.
ETH Bearish vs Bullish playThere is a lot of zigzags and choppy price action in crypto for the last couple of weeks. In general it says that we are in corrective territory. The main question is were are we going first, base on 4H chart. This is my first public post, so please be mercy to me in my comment section.
Have a profitable play, cheers.
E1
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
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