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Ethereum-bitcoin

Not out of the woods, yetso i see a lot of people have done a complete 180 in their attitude toward the market in the last 48 or so hours, since we've had this rapid and substantial upwards price action these last two days. while i am about as bullish as it gets when it comes to Ethereum and Bitcoin (and many altcoins), I think it is still very wise to approach the next few weeks with an extreme abundance of caution. Don't think for one second that the Musk/Wood/Dorsey meeting was not timed very thoughtfully. I personally don't think we are going to enter a PROLONGED bear market, but we HAVE to be open to the possibility that this thing could still see some very nasty drops before we get back on the inevitable track to new all time highs. The run the last two days has halted exactly at this fib level that i actually posted in an obscure idea about a week ago, stating that it is a very crucial level for ethereum (its actually titled "crucial level" lol) The charts are still very very clearly bearish at the current moment, and we didnt actually break any significant levels that should suggest a market reversal to the upside. In fact, we are still forming a textbook descending triangle after a massive drop of 50+%, and you can clearly see the significance of this blue fib circle level. Capturing support on this level is the first step on the road to ATH's, and then we still need to invalidate this descending triangle. I know btc broke down from its own descending triangle and managed to find its way back inside, and i know quite a lot of people are calling this pattern for ETH a falling wedge, but guys. This thing is textbook. Im not saying anyone should buy, or sell anything, just that we need to be very diligent here these next few weeks especially with trading. And be cognizant of the fact that we could very well see some very nasty numbers coming up here soon. Until we invalidate this triangle and break the previous high of $2400usd, we should all be very cautious when approaching the market. You can clearly see the daily RSI forming higher highs while the price action is forming lower lows creating a hidden bearish divergence. We should all remember what it is we are trading in this space: human emotion. The only thing that changes faster than the price of eth or btc IS human emotion, and we have seen just how much of an effect it can have on price action. Just as quickly, though, that emotion can swing the other way and it could get ugly. The charts, however, are completely objective and quantitative, and right now, they are still very bearish on all time frames, even the weekly now. We are forming a bullish pinbar in the current weekly candle, which can be a good sign, however, last weeks candle closed the lowest it has since March for Eth, and December for BTC. Not saying that we cant still go up from here, this is crypto. We should just all proceed with caution here as the best accumulation opportunities may still be ahead of us, and its best to have at least some dry powder ready to capitalize. I dont mean to sound overly bearish, we have just seen these exact types of times before and they have both not ended well, and they have gone against all TA and shot straight up as well. I just dont think its the time to go "all in", if you will. we should at least let this triangle manifest itself before going to any extremes. Im saying this because im seeing people all over the internet talking about things like selling their car, selling this selling that to go all in on crypto right now because of two days of rapid price increase. Especially with the Eth upgrades coming very very soon, we should expect to see at least some kind of rather large pull back before the hype run. Again, I dont mean to sound overly bearish, we all just should be a little careful as to not be caught off guard. Didnt mean to ramble this bad, wow lol. Thank you all for coming to my Ted Talk i guess :p godspeed everyone
by g0nzo
5
ETH - Daily ChartI'm sure most of you guys have heard the recent news and might think that it can pump the prices. Well it can! But I'm not sure when... it takes a little time before this news pumps. Right now the market looks healthy and we've already taken profits on today's long positions. I'll keep this chart updated. But for now, use this as a trade setup for your long positions. Since there are pump news around the market, we can't really be sure about the short positions. Be careful. Current Market Price: $1984 Good Luck Tell me your ideas. Like and Share
by ShawnMCR
13
Ethereum Potential Double Top, BEWARE if price break this level!Ethereum has had a nice rally since it formed a double bottom, congratulations to all my followers who took the long trade setup. It is now forming a potential double top, with the neckline at 1930. The double top will only be confirmed if price breaks below 1930, and it will be invalidated if price rallies above the second top at 2025. Why follow? 1. Community of Technical Analysts sharing analysis and trades 2. Live tracking of whale wallet movements 3. Live update of the latest important news 4. Live syncing of popular crypto tweets 5. Ebook covering how to be profitable in the cryptocurrency market
Short
by cryptotraderog
11
ETH/BTC Spread: Still has way to go to reach the bottomI said in my previous post that I'm eyeing a bottom around 1700 for ETH. The price is currently at 1815 as I am writing this piece. I don't know if 115 points is enough for that indicator to touch the final point of the triangle. That's why I'm bringing the hypothesis ETH may undershoot below 1700 to possibly even as low as 1550 for a couple minutes before bouncing back to 1700, crashing all the other altcoins with it. We will see how it plays out but I'm paying attention to when this indicator touches the bottom of the barrel.
BITSTAMP:ETHUSD
by quantmaven
3
Ethereum Holding a Narrow RangeEthereum is holding a narrow range after the head and shoulders breakdown from $2025. It looked like we were preparing to test this level again, but fell just short and returned to support at $1872. Volatility has consolidated significantly, suggesting a breakout either way can be expected. We will find further support from $1821 and $1795. From above, $2025 will be a significant level of resistance. The Kovach OBV does appear to be creeping up, showing a slight bull divergence, so perhaps a pump is near.
BITSTAMP:ETHUSDLong
by quantguy
2
Potential Ethereum Bullish Cypher Harmonic, +30% gains. (Part 2)Ethereum continues to post more bullish divergences on the Macd as well as the RSI . Ethereum just had an RSI trendline bullish breakout. Ethereum just confirmed the .786 as a bottom in my opinion. This is making me so sure that we are completing the D wave of a bullish cypher which will take up up to 2550-2600$. I think 2550$. If you are short in any crypto it is a good time to close your shorts for about a week. Ethereum is coming up 30% from where we are now. All other cryptos will come up with ethereum . Once we get up to 2550-2600$ that enters potential BEARISH gartley range. Super excited for that. I think that will be the end of crypto for the rest of the year. One step at a time though... we're bullish for a week or two.
Short
by UnknownUnicorn4285265
The truth that the BTC maximalists do not want to hear1. Ethereum becomes really really soon deflationary 2. Ethereum moves from PoW to PoS 3. The idea of introducing smart contracts on l2 (btc) weakens the principle of Decentralization. Keep it real on l1, this is probably what satoshi would have said too 4. Institutions are increasingly interested in ETH because, in addition to a storage of value, it offers other advantages & use cases 5. ethereum is scalable 6. Because bitcoin is so speculative, the whole market is suffering. Shoot this fkn gem of big banks & big companies to the fucking moon. TIME TO DETRHONE THE OLD KING! This is just my personal opinion, of course, can also be different but I hope that it will happen that way!
Long
by Lobotto
6
ETH Rejects the H&S Neckline!!Ethereum made a run for the neckline of the head and shoulders pattern we identified earlier. We saw a nice breakdown and subsequently a run for the neckline again, which we predicted would hold and that is exactly what happened. The neckline at $2027 is a strong technical level and can be thought of as a 'make or break'. If ETH was able to break the neckline solidly, then that would be a very bullish sign. The selloff took us back to nearby levels, however, so we could see another bull push. For now it seems like ETH wants to consolidate around the cluster of levels that separate it from our target at $1795.
BITSTAMP:ETHUSDShort
by quantguy
1