When will ETH jump above $1700?
Updated
Here comes another ETH TA! 🥳
Yesterday was AMAZING. For the first time in about 2 weeks volatility jumped and people who follow my TA's made a nice profit! Thanks for all of the messages, I am excited to celebrate your 7-10% single-day profit! Congratulations! 💰
What happened?
As most of you are well aware, for the last 2 weeks ETH market went stale and many people were turning away as 1% profit or loss was not motivating. Yesterday, finally, the last attempts to hype the market ran out of steam and after a small rise of the price, both ETH and BTC dropped over 10%!
We have explored this in my last post "When will ETH drop under $1600?".
What will happen next?
Currently, the market is bouncing at ~$1600 mark. It seems that ETH has completed it's H&S pattern and the key question is - where will the market go next? The new pattern should unfold itself today or tomorrow.
For the most immediate future (next 5-6 hours) the price should rise. UK and US markets will open to wildly discounted BTC and ETH, and buying any of them will drive both of their prices. There is some potential to revisit $1715 before it starts dropping again. $1550 seems to have formed a strong resistance, therefore towards late evening/night price might attempt to retest that price level. Regardless, let's hope that market hypesters will jump right onto this volatility opportunity and keep it alive for at least a few days. More volatility = more profit! 💸
Keep an eye on the ball towards the end of the day as the price can take any direction!
Today's technicals:
Position is Long
Forecasted highs at ETH $1715, $1735 and $1750
Mid-way point at $1715! (the 12hr gap between the current price is wild compared to the last 2 weeks data!)
Forecasted lows at $1550 and unlikely $1500 (at least for the next 5-6 hrs).
Have fun trading! 🤑
If you would like to get an early access invite for DataMoney ETH technical analysis, write "ETH is going up!" in the comments down below.
Yesterday was AMAZING. For the first time in about 2 weeks volatility jumped and people who follow my TA's made a nice profit! Thanks for all of the messages, I am excited to celebrate your 7-10% single-day profit! Congratulations! 💰
What happened?
As most of you are well aware, for the last 2 weeks ETH market went stale and many people were turning away as 1% profit or loss was not motivating. Yesterday, finally, the last attempts to hype the market ran out of steam and after a small rise of the price, both ETH and BTC dropped over 10%!
We have explored this in my last post "When will ETH drop under $1600?".
What will happen next?
Currently, the market is bouncing at ~$1600 mark. It seems that ETH has completed it's H&S pattern and the key question is - where will the market go next? The new pattern should unfold itself today or tomorrow.
For the most immediate future (next 5-6 hours) the price should rise. UK and US markets will open to wildly discounted BTC and ETH, and buying any of them will drive both of their prices. There is some potential to revisit $1715 before it starts dropping again. $1550 seems to have formed a strong resistance, therefore towards late evening/night price might attempt to retest that price level. Regardless, let's hope that market hypesters will jump right onto this volatility opportunity and keep it alive for at least a few days. More volatility = more profit! 💸
Keep an eye on the ball towards the end of the day as the price can take any direction!
Today's technicals:
Position is Long
Forecasted highs at ETH $1715, $1735 and $1750
Mid-way point at $1715! (the 12hr gap between the current price is wild compared to the last 2 weeks data!)
Forecasted lows at $1550 and unlikely $1500 (at least for the next 5-6 hrs).
Have fun trading! 🤑
If you would like to get an early access invite for DataMoney ETH technical analysis, write "ETH is going up!" in the comments down below.
Note
BTC is dumping. Analysts suggested a reason for bitcoin's fall was that more than $5 billion worth of options expire on Friday, adding to volatility as investors close out their positions.This changes the position from Long to Short
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