Long term analysis of the etherium processConsidering that in the near future, the digital currency market will witness a significant growth, we can wait a bit with the wait for this trend.
ETH-USD
ETHUSD approaching support, potential bounce! ETHUSD is approaching our first support at 207.15 (horizontal swing low support, 61.8% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 235.68 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce above this level.
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ETH-USD Short Update - Bear Flag Breakout Sub $100 Potential This is just a brief update to the Bear Flag Pattern I have been following in ETH-USD. This pattern started to present itself back in early September when ETH dropped out of the $280 range all the way to low $170s on September 11th - September 12th. The bearish flag pattern is forming nicely and has been confirmed by multiple data points over the past two weeks. Within the original large yellow bear flag pattern charted, another smaller blue bear flag pattern also appears to have formed. If ETH crosses the lower bound of the smaller blue bearish flag then I believe it will quickly cross the yellow lower bound and lead to a large downwards breakout.
The larger yellow bear flag pattern's second leg down (the start of the blue flag) was a smaller dip than expected. I believe breaking the yellow flag at this point will result in the large downwards breakout originally expected (green line down).
I am posting an update and new idea related to this position because I am keenly watching the MACD on both the 8 and 4 hour windows. The last time the MACD fully crossed down on the 8 hour we saw decent price movement downwards from the upper bound of the yellow flag which formed the new smaller blue flag within the original pattern. Yesterday I posted an update since it appeared it may cross the 8 hour soon. This is illustrated by point "A" on the MACD and the ETH chart. The cross was denied yesterday but it looks like we are close to another downwards cross, see point "B" on the chart.
Since I am trading high leverage I am waiting to enter until the trend fully breaks out. I am looking for a clear cross on the 8 hour before I enter. I believe these current prices could be a fair entry point but ETH is especially volatile and I don't want to get wiped out by leverage before we see the downward movements I am predicting. I am setting up entry points from $220 down to $210, even $205 depending on momentum, if this is the breakout I am expecting we could see a price decline along the length of the green line of the larger bear flag. We could see sub $180 ETH prices in the next 2-3 days if it breaks now.
I will not be entering this trade until it crosses. I think it could be profitable to enter now but that is up to you as an individual and your risk tolerance.
ETHUSD approaching support, potential bounce!ETHUSD is approaching our first support at 222 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 239 (horizontal swing high resistance, 61.8% Fibonacci extension).
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETH-USD UPDATE: Bear Flag Pattern - Sub $100 Potential BreakoutI believe that Ethereum is sitting at a very key point where we could see sub $100 prices in the next two weeks or the beginning of a long-term reversal. My analysis is based off of two very simple patterns and builds upon my previous analysis of a 4 hr bear-flag formation.
My last published idea covered a 4 hr descending triangle pattern continuation recognized by Audicted when ETH was in the $280+ range. The pattern predicted ETH dropping into sub $200 territory, all the way to $170. This marked the point of the first bear flag in my analysis, formed off of the September 11th, 2018 low. This flag extended out to September 23rd with an upward limit of $257. Ethereum stayed within the flag before breaking down to the September 24th low that was right above the $205/ETH mark. I expected a bigger price decline at that point and from there I saw another bearish flag formation starting.
My originally published bearish flag pattern from the September 24th low extended to October 1st, it called for a $235-$245 short entry depending on risk tolerance and an exit before $200. Stop losses were a tight 5% of 256, assuming that if the price were to break the upper limit of the flag then the bearish pattern would have failed and new analysis would be required. From the call on September 28th to now, September 30th, ETH has traded within this second bearish flag trend.
I am updating my idea based upon further development of the trend and subsequent data points, and I am also amending my suggested entry points. My updated analysis, chart below, reflects 3 new considerations.
First and most basic, the second smaller bear flag formed off of the Sept. 24th low has been extended out to October 15th. This flag is represented by the two blue lines connecting to the initial drop highlighted by the purple line and other potential legs down following the flag pattern.
Second, the yellow and green larger initial bear flag formed off of the Sept. 12th low was adjusted to meet the September 24th low as well as the September 21st high. Originally the September 21st high for the yellow flag was still within the range, but the September 24th low had broken through the original lower bound of the first yellow bear flag. This update reflects that development in the trend. From there the flag was extended outwards along the same range as the blue and purple flag.
Third I have readjusted my entry and exit points. With how erratic this market has been, and some long term trends I am seeing potentially developing, I am now waiting to enter this trade only if it breaks below the lower blue line on the smaller flag. I will stop loss the trade along the height of the upper blue line. This represents a stop loss of 5% throughout the blue flag pattern. If ETH moves upwards past the upper blue line and towards the upper yellow line I will be reevaluating entry points. Any short entry point below the upper yellow line along the timeline should be profitable but I am proceeding cautiously due to the possibility of a long term trend that contrasts to this bearish pattern I am following. I have alerts set along the blue line and corresponding four hour windows.
If the trend continues and ETH breaks the lower blue line then it has the potential to very quickly break the lower yellow line as well. I believe this would present with large downwards pressure with ETH going sub $170. Depending on entry point this could result in a 25%+ gain without leverage.
My second longer-term analysis is prompting caution on this trade, which is why for now I will be trading only within the upper bounds of the blue flag and not the larger yellow, though if it breaks the larger yellow I will be looking to capitalize on a large downwards breakout.
In the long-term I am seeing both a small rising wedge and also a large falling wedge. These are both very basic patterns, but I believe they are useful for this analysis.
The (Purple) large falling wedge takes points from the peak of the ETH price bubble in mid-January and one of its lows in early-December right before a 60% upwards movement followed by more massive upward movements to the peak of the wedge. I believe the September 11th sub $170 low is an important data point on this falling wedge. I would argue that if it had fallen below that point there would have been very little support for ETH on the way down. I believe this longer-term trend is worth being cautious as there seems to be potential at this $230+ price range for ETH to break above the upper purple wedge line and confirm the pattern.
The (yellow) smaller rising wedge has formed within the (purple) large falling wedge. The wedge begins with the $280+ ETH highs in early September and the September 11th low off of the 4hr descending triangle referenced. What I see as most interesting in this chart is how the rising wedge appears to converge upon the upper bound of the falling wedge. In my opinion I think we are about to see a major breakout in one direction or the other. If the rising wedge pattern confirms then ETH should drop away from the upper purple falling wedge line towards the lower purple wedge line. When this happens the falling wedge pattern would likely be denied and ETH could fall drastically to the sub $100 range.
However, if ETH breaks out of the rising wedge then it could mean the falling wedge pattern would be confirmed shortly after and we would begin to see a long-term reversal.
An overlay of the large falling and smaller rising wedge patterns on top of both the yellow and blue bear flag suggests that we could see this explosive negative price movement within the next week or two, or the beginning of a longer-term slow reversal. The three largest patterns all intersect on October 8th with a price of $240. I believe the smaller blue flag could be an early indicator. If at this point in time ETH is trading above the lower line of the yellow flag, above $240, I think we could begin to see a long term reversal taking place over a long period of time and this could be confirmed by ETH exceeding the upper bound of the yellow flag. Consequently, if it breaks out below the yellow flag lower bound and the lower bound of the rising wedge then we could easily see a steep decline and a continuation of the long-term trend to sub $100 levels.
I believe the short side of this trade is a stronger position especially considering the trend following within bearish flag patterns. I believe there are also some fundamental aspects of Ethereum that lend towards a short position. Furthermore, the long-term falling wedge that would signal a long term reversal is based upon prices that formed during a speculative bubble, it could easily be a false indicator. A confirmation of this pattern would only mean there is potential for the reversal to begin, but I would not expect any large upwards price movements right away.
To reiterate my position, I am entering on the short side of this trade along the lower lines of the yellow and blue bear flags, and stopping out at the upper blue flag. I believe the trade would be profitable with a stop loss as high as the upperbound of the larger bear flags yellow line but I am playing in this tighter range until October 8th due to my analysis of long-term movements.
ETHUSD approaching resistance, potential drop!ETHUSD is approaching our first resistance at 241 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 222 (short term ascending support line, horizontal overlap support, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD approaching resistance, potential drop!ETHUSD broke out of our ascending channel and is approaching our first resistance at 220 (horizontal overlap resistance, 38.2% Fibonacci retracement, breakout level) where a strong drop might occur below this level pushing price down to our major support at 188 (horizontal overlap support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit in line with our bearish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD: Good Long Opportunity towards Resistance Level at 251.29I see this as a excellent long opportunity. There is a nice horizontal overlap resistance at 251.29, with a 23.60% fibonacci retracement. Price looks to test this resistance level and I'll set my take profit level just below the resistance. My buy entry will be around 216.78, which coincides with a 100% fibonacci extension. Lastly, I will position my stop loss at 194.86, which is a swing low support. This is a good support level as it coincides with 61.80% fibonacci retracement and 61.80% fibonacci extension.
Stochastic is on a upward trend and yet to hit the 96.0660 resistance level, thus I believe there will be more buyers in the following days.
Share with me what you think about my idea in the comments and like it if it is useful, appreciate it.
Thank you.
ETHUSD SELLPrice is forming a continuation pattern for more downside. Watch strong price action for sell.
Remember, ethereum as others cryptocurrencies are correlated to bitcoin. So, keep on track bitcoin moves.
Don't take a trade if you don't see clearly when big guys are in.
ETHUSD approaching resistance, potential drop!ETHUSD is approaching our first resistance at 220 (horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension, breakout level) where a strong drop might occur below this level pushing price down to our major support at 188 (horizontal overlap support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit in line with our bearish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD approaching support, potential bounce! ETHUSD is approaching our first support at 219 (horizontal pullback support, ascending channel support, 100% Fibonacci extension, 38.2% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 249 b (horizontal overlap resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Possible 20% profit with long setup for ETH/USDHi all,
After an XRP/USD weekend, time to hunt for a new set-up.
Ethereum has made uptrend waves and retracement as well.
In my opinion we are now in the ABC correction and retracing down to have another leg up after completing the correction.
According to Elliot Wave , wave 4 may never retrace more then the top of wave 1.
With this information we have a clear indication where we need to place our stoploss.
In the chart the subwaves are visible but also the primary waves.
The subwaves are coloured in light blue, the primary in white.
The red line show the top of wave 1, if we cross that the count is invalid and so is the set-up.
For now, below a suggestion what possibly can be a good and definitely good profits if this works out.
As you can see, my stoploss is lower then the red line for a reason.
I simply do not want to get stopped by 1 wig hitting below the level.
Entry: 230 USD
Stoploss: 226 USD
Target: 285 USD
Happy trading.
ETHUSD approaching resistance, potential drop! ETHUSD is approaching our first resistance at 227.98 (horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might drop below this level pushing price down to our major support at 214.70 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (90,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD approaching support, potential bounce!ETHUSD is approaching our first support at 203(horizontal swing low support, 61.8% fibonacci extension, 61.8% fibonacci retracment, short term ascending support line) where a strong bounce could occur pushing price up to our resistance at 221 (horizontal swing high resistance, 61.8% fibonacci extension, 78.6% fibonacci retrcement).
RSI (55) is seeing a bullish exit and we might see a corresonding rise in price. Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD approaching resistance, potential drop!ETHUSD is approaching our first resistance at 198.27 (61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 187.05 (horizontal overlap support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ethereum-USD 2h Chart Short term- But not for long ! In the short term, we follow a short trend, but then we expect the bulls to wake up and the long trend to wobble. In my view, the threshold of less than 200 $ ETH will not be reached despite the reversed deviress of the indicators. For buyers, the price of around $ 200 is a pretty good investment for a long-term deal, with a very low percentage chance of losing.
And do not forget, do not invest more than you can lose.
ETH/USD POTENTIAL BOTTOM!Hey guys,
This is my analysis of ETH/USD for potential bottom. Only think I'd like to add is the anomaly between volume and price for the last candle (narrow spread +extreme volume) that confirms a potential bottom to a trend.
All the best,
$ETH longer time frame chart - likely quick long gains$ETH longer term plays should present themselves by Sept 25th latest
Short term - green arrow bump shows likely decent long available for smaller gains
ETH/USD Long - EthereumLoaded at $220 based on 3d chart. If support on the 3d breaks then $150 is possible but that's an unlikely scenario in my opinion. If support falls I'll dca on the weekly chart.
ETHUSD approaching support, potential bounce!ETHUSD is approaching our first support at 186.06 (horizontal overlap support, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 202.35 (horizontal swing high resistance, 23.6% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
