Ehereum
2019 BitMex ETH/USD tradesHere I'll try to post every ETH trade that I'll take in 2019.
I've only recently learned this style of trading from @CryptoCred on Twitter from his new Trading Guide so make sure to download it and go through it, it's well worth it for the price (it's free lol). Here's my first ETH try with this style...
Link to the Guide: drive.google.com
My SHORT setup:
Entry: $166
Stop-loss: $181
Target: $139
RRR: 1.8
Note: major resistances at my entry and another one at a stop-loss increase my chances of success
ETH/USD Volume Analysis Prediction 2/28/2018Hi, friends.
ETH/USD is in the main balance with the range 775-975.
For mid-term up trend this main balance must be goes up (breaks out and hold above 976).
On intraday charts we have a bulls signs, but they are not yet strong enough. The price is above the @POC of February - it's a good sign for bulls. Breaks out of 895-900 will be a positive sign for further growth.
Warning levels 838 and 775. If the price goes down below 838 (@POC of the month) it would be a bad signal for buyers. Level 775 - it's the last support (lower balance level).If the price break down and holds below level 775, with a high probability we will see a fall wave to the levels 625 or even 565.
Glossary of terms
Point of Control (P O C) – The price level for the time period with the highest traded volume .
Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
Balance - Accumulation Area.
F L - flat level.
T L - trend level.
Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.
ETHBTC Channel BreakoutEthereum continues to appreciate against bitcoin: currently 0.0767, after trading as high as 0.0865 late Monday. Pair is up more than 100% from the April lows and appears to be gaining momentum, having broken out of an ascending channel on Sunday. Former channel resistance is now acting as support and has been tested twice, appears solid.
Initial resistance is the 161.8 extension of the last channel wave at 0.07847, with a break above there targeting Monday's high of 0.0865, followed by the 200% extension just shy of .088. Sell limits are beginning to build at psychologically significant 0.09 and 0.1 figures, however, current structure is extremely bullish and longer term, sky's the limit.
A break back inside the ascending channel would sober our outlook, but pair remains bullish as long as higher low structure is intact. Former channel support comes in at 0.66 tomorrow, with further support below there in the 0.059 - 0.063 zone.