#ethereum - technical analytics won this fight, educational 1D
First of all, I am sorry I am so rare at the moment, but I have private stuff going on that I need to take care of and it recently needed all my attention.
Anyhow, Ethereum is a beautiful example of how technical analytics work and work out if done properly. I have not touched or changed this chart for several weeks now, no new lines, no new assumptions nothing and it did well.
The falling wedge has found the expected bottom at my "do or die" area, and overcame the crucial $180 resistance, from where it was simply a no-brainer trade. The bottom was marked with a strong Pullback, followed by an engulfing candle with an escape of the lower stochastic values.
At the moment we are today hitting another resistance, which could flatten the way up to $233 (BIG resistance) and more after forming a higher-high on Daily interval. I wouldn´t be surprised if we test the Monthly Pivot again before it goes up further, but please keep always in mind, that Bitcoin´s BAKKT next Monday has the ability to disturb this picture if there is volatility coming in. Ethereum produced some nice volume-increase, but it has to keep this dynamic in order to be able to attract further bulls. Outperforming Bitcoin at this stage is not a surprise, doesn't mean it will stay and go on like this.
Always set stops. Trade safely.
Current support: $180
Current Resistance: acute
___________________________________________
Warm regards,
Neru
To discuss the charts or anything about technical analytics and used indicators, please visit me in Telegram and feel free to ask any questions: t.me/nerugroup
Anyhow, Ethereum is a beautiful example of how technical analytics work and work out if done properly. I have not touched or changed this chart for several weeks now, no new lines, no new assumptions nothing and it did well.
The falling wedge has found the expected bottom at my "do or die" area, and overcame the crucial $180 resistance, from where it was simply a no-brainer trade. The bottom was marked with a strong Pullback, followed by an engulfing candle with an escape of the lower stochastic values.
At the moment we are today hitting another resistance, which could flatten the way up to $233 (BIG resistance) and more after forming a higher-high on Daily interval. I wouldn´t be surprised if we test the Monthly Pivot again before it goes up further, but please keep always in mind, that Bitcoin´s BAKKT next Monday has the ability to disturb this picture if there is volatility coming in. Ethereum produced some nice volume-increase, but it has to keep this dynamic in order to be able to attract further bulls. Outperforming Bitcoin at this stage is not a surprise, doesn't mean it will stay and go on like this.
Always set stops. Trade safely.
Current support: $180
Current Resistance: acute
___________________________________________
Warm regards,
Neru
To discuss the charts or anything about technical analytics and used indicators, please visit me in Telegram and feel free to ask any questions: t.me/nerugroup
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