Deconstructing Charts: BITCOIN and ETHEREUM, Ying Yang!!!Hello Trading View Community,
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Ethereum-bitcoin
Ethereum: Time Is Running OutIt's make or break on Ethereum. The structure created was an ascending triangle, butting up against all time high resistance. It certainly is not a value area to be buying.
Ethereum is running out of room, and currently dropping below the ascending triangle demand line, although minor. A trader may play the measured move up or down. Probably the best play is to be long volatility. Most likely, Bitcoin will be the judge and jury of ETH's move.
Speaking of BTC, things don't look good for a trade. The Elon Musk tweet was not enough to sustain prices for a confirmed breakout, which is worrying. I would not be surprised if BTC broke below 30k in time.
If the SPX keeps selling off on Monday, the party could be over and the cash grab beginning with the strange market we currently find ourselves in.
Ethereum Breakout Imminent!!!Ethereum is back at highs, exactly as we anticipated in the last report. We told you that it was likely to form a consolidation pattern before another breakout. Sure enough, it appears to be forming a bull wedge. ETH is due for a breakout imminently. All the signs are there. We have consolidation at highs, and the Kovach OBV is quite bullish, suggesting momentum is bottling up. We may have one more retracement before the big breakout but it is doubtful. When we breakout, 1548 will be the next target.
💡Don't miss the great buy opportunity in Ethereum/BitcoinTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.0411). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Ethereum/Bitcoin ETHBTC is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 63.
Take Profits:
TP1= @ 0.04320
TP2= @ 0.04500
TP3= @ 0.04750
TP4= @ 0.04970
TP5= @ 0.05150
SL= Break below S2
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💡Don't miss the great buy opportunity in Ethereum/BitcoinTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.0411). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Ethereum/Bitcoin ETHBTC is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 63.
Take Profits:
TP1= @ 0.04320
TP2= @ 0.04500
TP3= @ 0.04750
TP4= @ 0.04970
TP5= @ 0.05150
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
ETHEREUM - CRASH IMMINENT? | BEARISH ASCENDING WEDGE + TARGETS
Bitcoin alt coin decoupling may be happening however market direction is still preserved with the magnitude differing
Hence, since bitcoin is bearish (see idea linked below) and the ethereum chart itself is bearish, it is looking like a crash is imminent
Given the ascending wedge, a breakout out of this formation will trigger the collapse and begin the journey down towards the price targets
We have a minor 61.8% fibonacci swell as a major 61.8 fibonacci
The major fibonacci zone forms confluence with the healthy median trend line dating all the way back to the lows of 2020 and has been tested multiple times
Therefore the first fibonacci target will be a short term target with an expected overall target as the second fibonacci with the trend line at approx. $700
Price may wick or settle even lower at the major volume support zone at $600 but a wick is more likely due to high demand rejecting consolidation here
ETHBTC Time for Ethereum to cool off?The greater pattern of ETHBTC has been a Triangle since mid 2017. Yesterday the pair made contract with the pattern's Lower Highs trend-line for the first time since February 03, 2018! Also the 1D RSI is entering its 4 year Resistance Zone. Every time ETHBTC hit those levels, it pulled back to at least the 1D MA50 (blue trend-line).
Is it time? What do you think?
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Major Unbiased Crypto, Blockchain, Bitcoin Move To The UpsideHere's A Weekly Fractal Pattern Measured From Exactly 19 Years Ago to the Pits of 2008. If History Ever Repeated Itself, The Next 2 Months + Could Be Real Nice For The Blockchain As The Value Of The Dollar & Crypto Cap Move In Conjunction As Similar Polarities Repelling Each Other.
To Make It Simple, Dollar Up = Crypto Down
And Vice Versa; Crypto Up = Dollar Down
If This Fractal Pattern Measured With A Fib Retracement Is True, We Are Exactly 50% To The Next Potential Dollar Pit Running The Next 3 Years.
As Each 1 Percentage Point The Dollar Decreased, The Cryptocurrency Market Cap Increased 24% Per That One Point Decrease Of USD. (Measuring The Run Up From March 2020 Bottom To August 31 2020)
As Each 1 Percentage Point The Dollar Decreased, The Cryptocurrency Market Cap Increased 44% Per That One Point Decrease Of USD. (Measuring The Run Up From September 21 2020 To January 4 2021). Since Then The Crypto Cap Saw A Healthy Correction Of 25%
If We Take The Average Of The Two Percentages (24 // 44) We Get 34 Right. If We Apply This Same Logic Or Thesis Of The Dollar Going Down And In Turn Crypto Going Up To The Next Projected Downfall Written In The Fractal Shown In The Snapshot, Potentially We May See A 2 Trillion + Crypto Cap Or A $70-80k Bitcoin In This Next Move.
Take What I Present Or Say For What It Is, Because You Are The Gunner At The End Of The Day.
ETHEREUM - All Time High ETH has recently broken its all time high as Bitcoin has taken a breather since reaching its own new all time high. Just as Bitcoin has retraced, ETH has now dipped around 14% as sellers are taking some profits. Bullish scenario is still in play unless a new major changes take place. We recently sold off to secure some profits and are awaiting new re-entry levels.
Levels we're watching on our 4hr chart:
1. The bottom of our parallel channel in blue (roughly $1190-1230 region)
2. The 200MA line in White (floating around $1100)
3. The golden Fib pocket at $900
Not sure if it would drop any lower if we did see a retrace but anything is possible in crypto as we've seen time and time again. Best case would be to ladder buy at these levels and have some cash ready to go in case we see a panic sell off. (We have limit buys set up around $700 levels in case of flash crash/panic sell off).
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A
Cheers!
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Eth poised to set new ATHEth is ready to break out and set a new all time high.
Ever since bitcoin hit its new ATH on the 8th January we have seen a steady decline in market dominance meaning that money is flowing into Altcoins.
An Ascending triangle is identified signalling towards a continuation of bullish trend.
Target
2277 (61.8% Fib)
-BreadCharts
Simply More Moon Lol Ya Totally Bullish LOL Taking profit is for weak hand HODL.
What are your thoughts? Is it bad that people like to realize gains or just something else?
-No advice to give just thoughts that I can't shake after the last 6 years in the world of "CRYPTO"
""KEEP CALM AND MANAGE THY RISK!""
Ya takes time indeed...
Ethereum New Highs!! Where are the Buying Opportunities??Ethereum made new highs then swiftly retreated. It is a bit extended right now, having crossed $1035 to $1430 since Thursday. We can anticipate further resistance at highs, and perhaps for a consolidation pattern to form (such as a bull wedge or flag) before another breakout. We could see up to a 50% retracement of this month's range, which would bring us to $1172. We would see support from some levels in between at $1320, and $1233 in between. We could dip all the way down to $913 and still be considered bullish. The Kovach OBV and Chande are both really strong, so it is highly likely the pendulum will swing back and we will see a retracement. Long term we are very bullish of ETH.