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Ethereum in Make or Break situation for the rising wedge!Ethereum tests the support line around 4k$ which falls together with the current low point of the rising wedge. Currently Ethereum holds much stronger than Bitcoin and looks more bullish. The RSI is relatively low with 40 and is within a broad consolidation wedge that could be valid for another month. We expect Ethereum to hold the current support around 4k$ and bounce back up towards 5k$. Feel free to comment or ask anything you like. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers Ctumbler
Long
by tumbler55
ETH/USDT Breakout confirmed! We are heading towards 10k 🚀🚀🚀- Ethereum still holds the biggest ecosystem and has running smart contracts for a long time. This headstart led to a big market dominance compared to its competitors like Cardano , Solana, Cosmos, etc. - The main issue is the scalability and therefore the transaction fees which are way to high at this stage. - Ethereum still is the first choice after Bitcoin for big investors and remains attractive. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. - 2 billion worth of Ethereum burned since August. Daily chart: - Price broke the last resistance at 4100$ and is now in price discovery territory! Enjoy yourselves. - Volume is still very low but shows signs of increase. We expect volume to go up during November. - RSI analysis shows that we are in an uptrend and consolidating below the 70line. Get ready to crush it and go beyond the 80 line. - Moving averages show that the 20MA acted as support which is very bullish. - Support lines are at 3950$, 2850$, 1750$ and 1350$. All of them have been retested which is fantastic. - Resistance lines are no more. Let's see where we get a pullback to find some sort of resistance. Expectation: - We expect that Ethereum finds itself around 5k within the next week. - Once we start moving up seriously FOMO begins and we can enjoy the ride. - More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely. - End of the year prediction: We will see a 10k$+ Ethereum before the end of 2021. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55
ETH/USDT Ethereum is ready for 5k. Breakout imminent- Ethereum still holds the biggest ecosystem and has running smart contracts for a long time. This headstart led to a big market dominance compared to its competitors like Cardano , Solana, Cosmos, etc. - The main issue is the scalability and therefore the transaction fees which are way to high at this stage. - Ethereum still is the first choice after Bitcoin for big investors and remains attractive. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. - 2 billion worth of Ethereum burned since August. Daily chart: - Price currently breaks the last resistance before we find ourselves back in price discovery. - Volume keeps decreasing and can be considered the calm before the storm when finally new ATH's are printed. - RSI analysis shows that we are in an uptrend and consolidating. Nowhere near the 80 line yet and therefore still much room to grow. - Support lines are at 3950$, 2850$, 1750$ and 1350$. - Resistance is seen within the region 4100-4300$. Afterwards clear sky is ahead. Expectation: - We expect that Ethereum breaks free any moment and 5k$ is reached within the next 4 weeks without any problems. - Once we print new ATH's and price starts moving FOMO begins and we can enjoy the ride. - More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely. - End of the year prediction: We will see a 10k$+ Ethereum before the end of 2021. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55
BTC great support @ $8400, $5k downside, Market reversal in Dec?BTC was riding a 3 month descending channel and recently finally broke up out of channel but has since come back down to test support at the previous top of channel resistance. We are holding support right now and this pattern is also very much in line with what to expect on a break out, test support first, then run. This also could end up, yet again just being a new, slightly higher descending channel. There is a chance we could break back down into the old channel and bottom of that channel could be as low as $5k (improbably but possible) but we also see a lifeline of strong historic support at $7800. If we retain a descending channel or break downward to $7800, we are still facing a critical juncture in December around 12 or 19 December. The line you see intersecting the current trend line at this date is where we intersect with the overarching trend that started beginning of this year. If we come up off the trend line it could postpone that intersection. To go below that initial trend line is a strong signal of reversal of our nearly year long bull run. What we really need is for BTC to make it over $14k again so we can confirm the long term market overall as bull. Order books do not suggest we are in oversold territory yet which is usually accompanied by an increasingly positive MDR> vcdepth.io Overall I want to believe that BTC will hold this current support trend line but more so I want to believe we will not cross below the original trend line. I am bullish BTC though currently cautious. This is not investment advice, DYOR.
COINBASE:BTCUSD
by EncryptShawn
2
BTC MONTLY IS STILL POINTING TOWARDS $5000 LEVELSHello, I know most of us don't want to see 5k levels again but I'm a swing trader. I trade on weekly and monthly candles. I was really impressed of that 40% move by $BTC. I was expecting a green monthly candle because it was due see the past see the market. Market can't go down 12 months an year. I was out of my short position after $7500. I don't long until am settled because the next green candle has no direction that's what happened. I'm going to LONG again when my level fills. It is below $5500. Don't get distracted from the noise. I'm not good with my market don't hate my drawing. :) LONG $5400 #BITCOIN
BITMEX:XBTLong
by WaqasAzam
Bitcoin: Another HUGE Move is Brewing!Coin Savvy here with yet another analysis for all of you! There’s something I want to talk about with all of my viewers and it’s the 3 day chart. If Bitcoin closes this 3 day candle above its 200 sma then I would expect a move to the $9,000 to $10,000 region, this may take some time after the close as we are dealing with higher time frames which just takes time so have to think longer term. If Bitcoin closes this 3 day candle below its 200 sma then I would expect a move back down to the 3 day 200 ema around $5400 to $5500. The bullish target is using previous price history, May of last year we put in a top around $10,000 price per Bitcoin and I think this rally is extremely bullish, the weekly and monthly charts are extremely bullish (weekly closing above its 50/55 ema and monthly closing above its 21 ema) so this thing may have a little more juice in her and $10,000 is the only next real resistance besides the local top around $8400 but if we march back up after closing this 3 day above that 200 sma then I see us blasting through that local top. The bearish target comes from a multitude of things, I will list them below: a.) Monthly 21 ema - $5425 b.) Weekly 55/50 ema - $5450 c.) 3 Day 200 ema - $5450 d.) 2 Day 200 ema - $5450 e.) Daily 377 ema - $5400 As you can see we have EXTREME support in this region. I would say this is a simple setup... Close above the 3 day 200 sma, go to $10,000.... Close below the 3 day 200 ema, go to $5400... We can figure out what happens after that once this takes place... Remember to take things one step at a time. The 3 day candle is going to close tomorrow at 8 pm EST so that will be my determining factor whether I go long or short. This is the great thing about TA, having a plan for either scenario! Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
BITSTAMP:BTCUSD
by Coin_Savvvy
Absolute Top = 7500!? TARGET = 5.2KLong Term: BTC has respected the downwards trendline for the past several months and will continue to do so in the months following. I see 7500 being the absolute top of this weak recovery rally before a stark Bearish reversal down to 5.2k. The trend is your friend. Short Term: (Bearish Scenario) A continuation pattern of the prior double top may be in play within the next few hours / day. If BTC can't break through and maintain support of 7110, then I see a possible pull back to 6800 or likely even a pullback to 6600. (Bullish Scenario) A clean breakthrough of 7100 would suggest a test of 7300 and maybe even 7500 before the downtrend continues.
COINBASE:BTCUSDShort
by BOOKER-
2 weeks until 5kEnded last Scenario with mild losses. Let's see hot this plays out. So we are heading to 5k as we have been heading for a long time. Although i thought 2 weeks ago that we take that 12k first. Well it aint gonna happen. This snapshot is from this current play that has beem played out so far pretty good as posted in twitter and discord about 11hrs ago. So it makes also possible that this will play out to the end also. And by end i mean this scenario, not bitcoins :) So to open this up Turqoise is the larger ABC structure guiding us down. A ended on 5860 (bitmex) and we are currently in B. Target for that turqoise B is 6850-7100 regions. From there starts the turqoise C down to 5k. Orange waves are subwaves of the turqoise B. They are also ABC as all EW chartists know. And currently i see us orange B of turqoise B heading down to 6080-6200 levels. From there we start a real shortsqueeze to 6850-7100 regions and that is the point where i will accumulate my short position Targets (in that order): 1. 6080-6200 ( I will enter long if this happens) 2. 6850-7100 (Moving to short) 3. 5000 ( Closing short at 5200) Not entering long immediately.
BITMEX:BTCUSD.PShort
by JoppeJoppe
Getting Bitcoin ready for the 5k. Currently out of position I have 2 straight targets. Both in dark blue color line. Now the road to target number 1 is very unclear to me. So is the road to target 2 of course in this point but it will get clearer when the time comes. Now we will hit target 1 possibly even within this week but i will not get a long position from this point. If for some reason we retrace to 6940-6760 levels i have laddered buy orders waiting but i doubt it will and i remain out of position until we reach target nr 1. When target 1 hits i will be in short position You have seen the bigger picture where we are in large A wave finishing it's 5th wave ending diagonal. The bottom of that diagonal is target nr 2 which is also our main target. Now this will be a long swing scenario if the count doesnt invalidate. If we go above 8200, we will go atleast to 10k and then this whole scenario is invalidated. MY CURRENT POSITION: OUT TARGETS (In that order): Target 1: 7940 Target 2: 5060 (MAIN TARGET!)
BITMEX:BTCUSD.P
by JoppeJoppe
1
Heading down to way under 5k but not just yet VOL 2 So here's a bigger picture to present one possible scene how this might play put in 2018. One of many theories. I wanted to publish this to point out that even going as high as 14k wont make us 100% out of the bear market. Because this doesnt invalidate any rules of Elliot wave WXY, WXYZX counting. Well this was not the point. Getting to the point and to keep it short. We confirmed the breakout from the falling wedge. This means that on swing trade perspective, we are going to go up. Can we now say goodbye to 5k? Hell no! :). It will come but not just yet. First we have to make some money and once again enter to a very profitable short position from 8k(ish). Then to my position and targets on XBT , BTC Im currently long from 6250 and i am fueling more to my long position if and when we dip to 6100-6200 levels (6175 to be exact). We should eventually go to 8k but there should be atleast 1 very good flipping point and it should be in 7420 (bitmex). Once again ill keep you posted :D TARGET: 7420
BITMEX:BTCUSD.PLong
by JoppeJoppe
5
BTC ... does RENKO confirm we still need to drop?Hello gang. OK so here's the Renko on the daily. If you've seen my previous ideas, you will notice I've been talking about a big triangle wave, along with some other people doing TA. These waves are bouncing in a big triangular formation ... 20k to 6k, 6k to 11.7k, 11.7k to 6.5k, 6.5k to 10k and now the final wave ... which has broken down below the triangle with a CURRENT bottom of 5.9k. Each of these long waves from the top of the triangle to the bottom and vice-versa I have found are a complex correction wave ... a WXY pattern. The WXY is a (5-3-5)-(3)-(5-3-5) system ... each bracket is (W)-(X)-(Y). So basically an (impulse-abc-impulse) for W, abc for X. and (impulse-abc-impulse) for Y. Sorry for going into detail, but this is really important to understand. Again I want to stress ... I have counted this system in ALL the major waves in the triangle, and I expect this correction down from 10k to be NO different. Turn to the Renko now ... start at the 9.99k top, and notice the red blocks are the impulse waves and the green blocks are the abc corrections. We have completed (impulse-abc-impulse)-(abc)-(impulse-abc- ...) and are working on that last impulse. Each of these red impulse waves are around 1300 to 1600 points long, average is around 1400 points. Applying that to this impulse, it takes BTC to 5350! I've also done an elliott wave count on the normal candle chart ... and if I compare that to the impulse we had from 7700 down, once again, it says we should hit between 5350 and 5400. There is key support at 5350/5400 that should be taken into consideration as well. At the moment we are in wave 4 ... and that can take us to 7250 to 73XX territory. Then I expect it to go down. Can't say when as this can now sideways for a few days ... but I do see one last collapse ... I'm hoping to see a nice V shaped bottom ... and yes it can go lower than 5.4k ... key support below that is 5k and 4.5k. I would be very surprised if we go lower than 4.5k without a significant correction first, or at least weeks/months of sideways and disinterest. Is a bounce from here possible ... yes, sure ... but I'd say lower probability ... and the only logical reason I see for that is the mass public viewing the 5900 to 6000 level as HARD support ... given it's been tested a few times. Once again, this is a low probability scenario for me right now. One last thing ... if we do bounce from 5.4k, I don't believe that is the absolute bottom. I see a few weeks of rallying, then another bear market. There is an important log trend line that needs to be touched to get us out of this mess ... it currently sits at around 3k ... it is rising as time progresses. Remember only a fool relies on one potential outcome. Do not make financial decisions with this info. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
6
BTC 5k Blues: Prolonged Elliot ABC CorrectionHey fellow TA enthusiasts! I have some good news! We are likely to start going back up for a while, and we will once again visit the 8k region for a welcome breather! Sadly, signs are saying that our revival will be short-lived, and will be followed by another deep dive. And this time, we will get to see the dreaded depths of 5k. Let me walk you through it: Elliot Wave theory states that every positive impulse wave (consisting of 5 waves: 3 up, 2 down) is followed by a negative impulse of 3 waves (2 down, 1 up): this is called an ABC correction. Each downward wave in itself also consists of 5 waves (3 down, 2 up). Currently we are in the C-wave of the correction. More precisely, we are at the bottom of the 2nd downward wave of this C-wave. Meaning we are due another upwave, followed by the 3rd and final downward wave of the C-wave. If you view my previously published ideas, you will notice that I have already predicted this before with a different reading of the chart, and a different end of the C-wave. Back then, instead of the C-wave completing, BTC suddenly halted and shot back up, taking me by surprise. It didn't make sense to me: the C-wave hadn't completed yet! Was BTC escaping a full ABC correction? Of course not! However, instead of taking the shorter, sharper pain that I previously predicted, it appears that BTC is opting for the route of prolonged, dull pain. It might not take us down as deep, but it will take twice as long. We will pay the price; the market will get its due. But, don't be gloomy: we have some opportunity for profit in the short term, and there is light at the end of the tunnel. And meanwhile the bull is feeding and getting stronger...
BITFINEX:BTCUSD
by iVonomics
2
Heading down to way under 5k but not just yetThis is a time to be very cautious and enter to position when you have clear idea and target to aim. I am very bearish on midterm, . Ive been that for several months and no reason to think otherwise. But as i said before, i dont trade like that. I trade one trade at a time. I see this market going down very hard but i dont see it will necessarily be ready for that yet. I see us trying one more larger move up. Not to 9k anymore. I think we can all forget that for now :). But over 8k we still have a chance. Ill keep this scenario updated as it plays through and post targets as they will present themself. Currently my target is 8,3k but im not in position until i get that confirmed. Ps. If you wonder why my big triangle (turqoise) is not invalidated it's because i drew new one from the last bottom of 1st april till this moment.
KRAKEN:BTCUSD
by JoppeJoppe
16
BTC ... is the plunge over?Hello All, A quick update ... there are different possible interpretations when it comes to EW. The short summary ... (1) did we have an ABC correction up from 7040 (black wave)? (2) or did we have an ABCDE leading diagonal up from 7040 (purple wave)? Thing is, selecting one or the other decides when the impulse down started ... and the projected bottom (in the short term), is very much dependent on that choice! The purple wave suggests this is FAR from over ... and alts will be jumping off cliffs soon, as BTC goes to 5.4k or even lower. In this scenario I do expect a quick, massive wick down, as many longs liquidate ... then a proper recovery. I can't tell you where that ends ... I see possible stops at 5.4k, 5k, 4.4k, 4k .... all the way down to around 2.9k. Don't freak out though ... I really do expect this to be quick, so if you are protected by stops ... The black wave suggests the correction is over (for now) ... and we go up from 7370, close to my original target of 7425 (see this idea ). This scenario then leads to a mediocre recovery, then another attempt to hit bottom, and I suspect that one would succeed. Again, I see this ending with that massive wick down, creating a V shaped bottom. We will know soon enough. Watch volume especially, and alt action (are they really recovering in a healthy manner)? Those are clues, they always have been. Please comment which way you think it will go ... BLACK WAVE or PURPLE WAVE Remember, only a fool relies on one potential outcome. Do not make financial decisions with this information ... for educational purposes only!
BITFINEX:BTCUSD
by MAGICMARK
11