ETH Weekly Analysis 8/14/2018
Updated
Welcome! I've been learning/praciting technical analysis for awhile now and have recently learned a lot about price action. I plan to publish my thoughts at least once a week. My goal is to practice, improve, learn and hopefully share some knowledge with the community. Please feel free to challenge and question me (respectfully). This is also not financial advice in anyway and is meant for entertainment. PSA: Don't look for advice from random people online- learn and create your own ideas for trades!
Weekly:
That is pretty ugly(unless you shorted). I'd be careful shorting any further as I think the bottom is close. I'm looking for long opportunities on retests of resistance turned support.
Daily:
Right now ETH is finding support at a daily OB from Sept 18th 2017. The equilibrium of the block has held and this could potentially provide some decent support. A 2018 yearly low is well past at this point. Shorts are stacking up so perhaps a short squeeze off the bottom will come.
4H:
If this were a bottom or a bounce spot the RRR is getting hard to ignore for swing trades. Even a bounce to about 300 would provide a nice move, and perhaps another opportunity to short if we can't make a new high.
1H:
You can see this area has held twice so far and made a higher low. I'd like to see a higher high on lower time frames from here otherwise I don't have much faith in this level holding on much longer.
Weekly:
That is pretty ugly(unless you shorted). I'd be careful shorting any further as I think the bottom is close. I'm looking for long opportunities on retests of resistance turned support.
Daily:
Right now ETH is finding support at a daily OB from Sept 18th 2017. The equilibrium of the block has held and this could potentially provide some decent support. A 2018 yearly low is well past at this point. Shorts are stacking up so perhaps a short squeeze off the bottom will come.
4H:
If this were a bottom or a bounce spot the RRR is getting hard to ignore for swing trades. Even a bounce to about 300 would provide a nice move, and perhaps another opportunity to short if we can't make a new high.
1H:
You can see this area has held twice so far and made a higher low. I'd like to see a higher high on lower time frames from here otherwise I don't have much faith in this level holding on much longer.
Comment
Long from 258. Shorts stacked up and I'm looking for squeeze. RRR is too tempting.Comment
Took 1/2 my position off the table. House money riding. May long again on retest of prior resistance: Comment
Still long with 1/2 position: You can see ETH is trying to break through this 1H Bearish block above. It is currently on the third attempt. We have found support a couple times around 279-280. ETH has also not yet retested prior resistance that may have turned support around 268-270. If we don't break through here I may sell and try to buy the retest.
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