💡Don't miss the great buy opportunity in ETHUSD @ethereum Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1916.5).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 1981.5
TP2= @ 2043.0
TP3= @ 2136.0
TP4= @ 2276.2
TP5= @ 2450.5
SL= Break below S2
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ETH-USD
Eth/USD - key decision dates ? ETH USD is prepping to make a major move. what possibilities we could face this coming week?
Important dates that keep coming up in my analysis are June 12th, June 13th and June 17th. Something is likely to happen on these date that will determine clear direction of the market.
On the Daily Chat. you can see Eth is preparing to test 2228$ area and subsequently the 1930$ area. On the 3 Hrs, it shows you it is preparing for a major bullish move but if you look closely in the 2H time, you see that bullish pulse is not very strong to support an uptrend.
on the 1H, it looks like it is ready to retest 2600$ area. if it makes this move, then it is more likely to be bullish and test 2228$ area due to the W inverse HS that is forming in 1H time frame.
Keep an eye out on these date and happy trading!
Disclaimer: This is for educational entertainment purpose ONLY. I am not a financial advisor. M’kay !?
TrendTracers Weekly Market Analysis #5TrendTracers sunday analysis
BTC
Not much has changed since last week. We are still bearish but there is room for a correction up to 46k. However in the bigger picture, price is likely to go below the lows of January. Around 28k might be another support level. For now we’ll sit on our hands.
BTC.D
btc.d reacted heavily off lows. Btc.d looks like it’s forming a low. This suggests , with our bearish take overall, that altcoins will drop more compared to bitcoin.
Ethusdt,
Looking kind of similar to bitcoin. Price might retest the order block around 3k. More rejection might lead to new lows.
Ethbtc
Price is below resistance and downtrending. This might be a “dead cat” bounce indicating a bearish move in the future. In general the trend is bearish, expect lower prices on ethereum.
DXY
The downtrend seems to be slowing down. Price is starting to close above the baseline. Dxy broke out of the wedge and the market is starting to look bearish for stocks. There is a lot of greed in the market so we might be able see some form of a recession soon as a consequence of Corona. Our invalidation level would be when the DXY hits below 89.4
USDT.d
The USDT.d broke out of resistance and we saw a big move up. We are currently slowed down at the high and we might see some retests. Close above 5.00 would be a bearish indication for crypto. The usdt.d retest of the resistance will probably happen along with the predicted btc lows.
Conclusion:
The market still looks bearish. We might see some upside since btc got rejected at support so we expect a bounce to the 44 k area. This would be a great time to get out of some alts because we expect further downside from here.
BTC - Relief rallyAs the sentiment in the crypto space is becoming more bearish, a relief rally will liquidate many holders. Compared to the 17 cycle we could expect a instant bounce back to the upside and continuation in the bull market till the top. In 13 however, it took 6 months before we saw any breaking of previous highs. I expect something in the middle will happen in this cycle. I don't think the price will bounce as it did in the 2017 cycle but I also don't think we will trade sideway for 6 months. Rather i suspect June/July will be accumulation phases before we start running up again. I expect to break new highs before summer ends and a continuation from there to our market top somewhere in November.
Let me know what your thoughts are in the comments below.
ETHUSD 4H ( breaking of 2920 will get 3560) Ethusd, in the previous idea we said the price will get the target (2920).
So now the price stoped in the 2920 i think will make a small retest so again will continue to the up growing, be ready.
Buy
Entry: between 2500$ and 2920$
SL. Stabilize under 1780$
Ethereum Rebound to 3700 in trend channel - See it!Dear traders,
A picture says more than a thousand words. You see here the hourly chart of Ethereum and we have just made a double bottom, reached the bottom of the trend channel and are heavily oversold. It's time for a short recovery in my opinion. Prices never go down in a straight line but they do go down in a saw tooth pattern.
Let me be clear, I am not bullish anymore for this moment on Ethereum but for the short term I see a possible rebound to around 3700 / 3800.
As a trader and investor, I believe more in the value of Bitcoin. Simply because the circulation is limited to maximum 21 million coins while with Etereum it is unlimited. Yes there can be mined coins as much as they want. One can just change the algorithm there. Not with Bitcoin because the maximum is already known. What they do is halving Bitcoin every 4 years. You can read about it on the internet. It means that the degree of difficulty is doubled. This means that mining can continue for a very long time with very powerful and expensive equipment that quickly becomes obsolete... That mining is necessary to validate the payment transactions on the blockchain.
Because it takes more power each time to mine, Bitcoin does need to get more expensive to get out of the cost as a miner. I know this because I was a miner myself but changed because trading is better and less risky.
If Bitcoin starts to rise faster than the ALTS we are also going to see a correction in those ALTS but that all remains to be seen. That is the Bitcoin dominance.
It is important to trade what you see and not what you think! Patterns change all the time and you need to adopt you to the new situation. You need to be able toswitch from long to short and vice versa without hesitation. This market is volatile and goes fast up/ down. Don't run behind prices because often you are too late. Better plan your trades at the lower boundery of trenchannels for longs and simular techniques. Than you can make better profits with less risk. Risk management is everything!
Traders, this is purely my personal idea about Ethereum /ETH and not an investment or trading advice! As a trader you should always do your own research and protect your capital with money management. The famous 1% rule or you risk to get to a zero account. With the 1% max loss per trade rule you can trade for a very long time. Do also not overtrade!
If you guys appreciate my work it will be a motivation for me if julle give a thumbs up and follow me for updates.
Wish you all great and safe trading with lot of profits! Take care!
Ethereum ETH DIAMOND top seems to be set!Dear traders,
Here is a quick new update for Ethereum on the 4 hour chart.
We see here a pattern not often seen, the diamond. Like the head and shoulder formations, this pattern has lower targets. It signals normally tops.
My previous analysis of Ethereum is still valid with the head-shoulder pattern but now we have a diamond formation and that strengthens my idea that the targets from the HS will come out even more!
Guys, now keep an eye on the red trend lines. If we break out to the downside, 2760 will quickly come into view. An upward breakout is less logical with this pattern, but everything is possible. Nothing is 100% sure but this pattern is a top pattern. If it fails then we see an agressive move upside. Keep that in mind!
Always confirm trades by a re-test of te trendline and volume to be more sure of false breakouts.
Traders, this is my personal view on Ethereum , No trading advice. Always do your own research before trading and at least use stops and money management to limit your risk.
If you guys appreciate my work it will be a motivation for me if julle give a thumbs up and follow me for updates.
I wish you all lots of profits and above all safe trading!
ETHEREUM - ETH - Correction ahead! See targets in my analysis!Hello traders,
Here is a brand new analysis of Ethereum.
It has been exactly 18 hours since I wrote that the target of 4000 usd would be met within a few days but it has already happened!
Congratulations with Ethereum and the 4000 reached level!
What is next now?
We are seeing now many divergences on multiple time frames among others in the MACD, RSI, STOCHASTIC.
We are also forming a DOJI on a daily basis but the daily candle has not yet closed so it is not confirmed.
You can see also a bearflag. These factors and the 4000 level which make me expect a correction.
To be more precise, I expect a pullback now to the levels 3500 usd, 3200 usd and 3000 usd. 3000 usd seems to me the ultimate buying moment but probably everyone is too negative and thinks it will go even deeper. I will wait with patience anyway because my style is buy low (with a discount) and sell high with nice profits!
Right now I am short Ethereum with a stop at 4060 and first target at 3500 usd. Is my stop hit than I had a very small loss but a very good Risk reward!
I will turn bullish again if we break all time high and come back with a RE-TEST of that level.
My buy order is already placed at 3050 USD with a stop at 2790 USD and a target of 4000 USD.
This is my own personal view on Ethereum and not investment advice. Always use your money management and stops when trading.
Have fun and trade safely!
See also the related posts from Ethereum because they are very useful!
If you guys appreciate my posts it would be great to follow and like me! It motivates me to continue with these analyses!
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can be traded at Bittrex and few more exchanges
ETHEREUM ETH BEARISH WOLVE WAVE PATTERN ON 1 HOUR CHARTHello traders,
We are looking here at the hourly chart of Ethereum.
We see here a Wolve Wave pattern with a target of aprox. 3250. This happens to be also the 50% retracement Fibonacci Level. So both targets are coming together. ETH formed also a negative divergence in the RSI so different signals for the same target. The false breakout of the 5th wave validates the Wolf Wave.
The volume of Ethereum in this pattern is also interesting. In the first wave we saw a large volume up to 3500 USD. The decline showed even much greater volume. In the rise of the last 2 waves in the pattern we see that the volume was lower. That was already a hint of the false breakout and after which immediately this pattern was formed.
This is a hypothesis because patterns can and do fail but often they work well. Nevertheless, given the volume progression and the big rise of the last few weeks, it certainly seems possible to me.
A stop above 3600 USD. If we do break out above 3600 USD this should be done with good volume. With a RE-TEST of 3600, I am again bullish for the longer term on Ethereum and the price targets from my previous analysis come into play.
This view of Ethereum is purely my own opinion and absolutely no investment advice. Always do your own research before making a trade.
Happy trading and as always best use money management and stops to protect your capital.