ETH/BTC WE ARE ON STRONG WEEKLY TREND !Hello everyone,
Let's hope Ethereum will back on track soon, You can see we have a strong weekly trend giving us very hard support area if it holds we gonna fly.
If the trend-line broke, we are done and Ethereum will feel a free fall.
Let's see what will happen in the next few hours...
Ethbtclong
ETH Good EntryETH is has been consolidating for about a week around 0.055 area, and is looking to break out of the downtrend line soon. I'm buying around 0.05625.
Positive divergence in RSI also confirming trend reversal. Will hold for some time, please note that this is (D) frame, so long term trade here.
Good luck,
ETHBTC short term gainATM the RSI on the daily is showing oversold conditions. The RSI on the 4 hour chart isn't quite as low as i'd like it to be for a buy but once the RSI on the 4 hour will hit 12 it is. I think the RSI on the 4 hour will hit 12 once Ethereum nears it's major support level. Ethereum has major support around the 0.0570 - 0.0585 BTC price. As well as the fibonacci retracement correlating with the major support. I think we'll see a 10% gain from the support level before continuing the downtrend. I'm placing my stoploss around 0.055 in case we break the support level and immediatly continue down.
ETH reversal?Longer term chart showing support at fib retracement line. MACD turning positive while showing bullish divergence suggesting a trend reversal. Stoch RSI turning upwards, RSI deeply oversold, turning upwards, and showing weak bullish divergence. On a shorter time scale, we see the formation of a descending triangle. At its culmination, we can expect to see either a breakout upwards and confirmation of reversal, or a breakdown to lower levels confirming more of a bearish flag/pennant formation. Longer term indicators suggesting greater weight towards a reversal, but BTC action can always throw a wrench into things.
ETHBTC Global Forecast 2018y.Hello Traders!
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ETHBTC due for a bounce?ETHBTC's downward motion appears to be slowing after a possible completion of 5 waves down, bouncing right at 0.5 fib retracement (dotted red) of the rise made from Dec-Feb. This fib line also perfectly coincides with the 0.618 retracement line of the fall from last year's peak. The 1D chart shows we are close to crossover of MACD and Stoch RSI . 1D RSI also breaking out of downtrend and oversold territory while showing slight bullish divergence .
Shorter 2H timeframe showing many possible indications of reversal. MACD just crossed to positive (though weakly) while showing bullish divergence . RSI is rising from oversold while showing bullish divergence . Potential double-bottom at 0.074. High buying volume appearing at these dips.
Breakout of the trend would find strong resistance at 0.08 followed by 0.09. Failure and breakdown of the trend could bring price all the way to the low 60s handles.
Any and all moves could be dictated by the ETHUSD -0.38% price and, of course, any BTCUSD -0.91% action.
ETH BTC Bullish CaseFor the bullish chart, we switch to the log scale and can see the ETH/BTC ratio is now repeating the pattern from March/April of 2017 within the yellow circle but on a slightly larger scale. If this pattern is going to repeat itself, the ratio should be nearing a bottom within the next day or two creating a buy opportunity. It will be followed by either a reversal in the up direction, or a bit of sideways movement before beginning to climb (see the orange line). Ignore the blue line for now as it is part of the bearish case I've linked to below.
Whether the bullish or bearish case scenario plays out will heavily depend upon bitcoin's choice of direction in the next few days.
Arbee successfully called the reversal around 0.025 ETH/BTC in early Dec 2017. His chart here:
Also, see my Bearish Case here:
ETHBTC Long due to the divergence in its purposesETHBTC is showing, by the charts presented, a safe place to keep your eyes and investments on. The proposal of Ethereum (ETH) is not to become a currency, but a platform of smart contracts that can be used for many type of secure transactions using the revolutionary blockchain concept. Its clear now that the original Blockchain needs to evolve and there are very professional people and large companies investing in that evolution. Just read more about The Ethereum Foundation and the Enterprise Ethereum Alliance (entethalliance.org) and you will know more about why this chart is showing this uptrend evolution.
ETHBTC clear tunnel evolutionBased on basics trendlines and market news, there are many indicators pointing to the end of BTC foolishness and the more adoption of the blockchain as a form of trusted assets transfer. The proposal of Ethereum Smart Contracts and the easiness of the creation of new tokens based on its platform will bring not only adopters (Microsoft, Cisco, Amazon, Facebook) but also money to this world. Eventually ETH can also become a traded currency but that's not its main reason so the adoption will come more naturally as well they can control its value to not become too inflated and scary for the business that wants to adopt and accept it.
2018 is gonna be the year of the cryptocurrency and blockchain as the new internet. And ETH is in a better position of becoming the leader of this movement due to the geniuses behind it and not living anonymous neither seeking for "easy money". Whatever coin you want to invest, look for the one you have real faces behind it and their curriculum. And let's make the smartest and right choices so everyone wins.
Excellent Long-Term Hunting Opportunity in ETHBTC, Don't miss itTrading suggestion:
There is possibility of temporary retracement to suggested support zone (0.0775 to 0.0660), if so, traders can set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets.
.Beginning of entry zone (0.0775)
.Ending of entry zone (0.0660)
Take Profit:
TP1= @0.0860
TP2= @0.1000
TP3= @0.1106
TP4= @0.1253
TP5= @0.1514
TP6= @Free
Technical analysis:
.Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
.Relative strength index (RSI) is 67.
.Current short-term is uptrend and continuation of uptrend is expected.
ETH/BTC ReversalThe graph of bitcoin to ethereum looks like a good setup, however i am very caution because of pump of bitcoin which could bleed the altcoin market substantially. I'm expecting a consolidation phase in bitcoin right now so this would give a-lot of time to grow for the price of ether.
- Enter at breakout (0.0345)
- First take profit at (0.06), Second take profit (0.07) if the price goes above these and you still hodl some; set stop-losses below the second take profit. Looking for 100% - 200% increases.
:D