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Ethereumtechnicalanalysis

Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/03/23Market Overview Price Action: Ethereum has taken a major dump, dropping more than 10% from a high of $1870 to a low of $1655. It is now trying to find support in this area as Bitcoin is testing major support. Ethereum and Bitcoin is highly correlated at the moment, so it will likely follow the same moves that Bitcoin makes. Similarly, holding or breaking this level of support will determine whether we have a major correction or a major rally. Prepare yourselves for some volatility. Let's hope its to the upside. Chart Patterns: N/A Areas of Interest: The area(s) of interest for me are the 200MAs @ $1740-1750. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time. Trade Setups Below are the potential trade setups that I would be interested in trading: Short Trade Setup #1: Retest and Continuation (200MAs) 1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1740-1750 by the time price reaches it, and bounce back down. 2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out My Recent Trades 2021/03/16: I had a winning trade! I entered a long @ $1738, with Stop Loss @ $1718, and price reached a high of 1803.9, giving a risk reward ratio of 3.3:1. 2021/03/05: I had a winning trade! I entered a long @ $1,540.0, with Stop Loss @ $1,522.4, and price reached a high of $1,670.0, giving a risk reward ratio of 7.4:1. 2021/02/21: I had a losing trade. I entered a long @ $1,970.0, with Stop Loss @ $1,868.6, and stop loss hit. DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk! What are your thoughts? Please leave your ideas and analysis in the comments below! Do give the post a like and a follow.
by cryptotraderog
4
Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/02/23Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out! If you like this post, please support me by clicking the like and follow buttons. Also feel free to share your thoughts and analysis in the comments below! And don’t forget to check out my daily analysis on Bitcoin, Ethereum, and Altcoins! Market Overview Price Action: ETH, along with Bitcoin and the rest of the cryptocurrency market, experienced a heavy sell off yesterday, causing fear and panic and prompting many to question whether the bull run is over. In the chart to the left, we see that on the higher timeframe (4H chart), we are actually bouncing off of channel support, which coincides with the 200MAs. So long as this confluence of levels hold, ETH should be able to consolidate and have another run. Should this support zone ~$1550 break down, we need to be very careful that perhaps there will be prolonged downside.Currently I am not touching my HODL portfolio just yet, still HODLING strong. Chart Patterns: N/A Areas of Interest: The area(s) of interest for me are the 200MAs @ $1820-1850 and the lows @ $1550. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time. Trade Setups Below are the potential trade setups that I would be interested in trading: Long Trade Setup #1: False Breakdown 1. Price Action: Price breaks below the then rapidly climbs above $1550, forming a bear trap 2. Trade Entry Confirmations: A breakdown candlestick  followed by a reclaiming candlestick, above average volume on both breakdown candle and reclaiming candle, MACD bottoming Short Trade Setup #1: Retest and Continuation (200MAs) 1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1820-1850 by the time price reaches it, and bounce back down. 2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out My Recent Trades 2021/02/21: I had a losing trade. I entered a long @ $1,970.0, with Stop Loss @ $1,868.6, and stop loss hit. 2021/02/20: I had two winning trades! I entered a ETHBTC long @ 0.035325, with Stop Loss @ 0.034577, and price reached a high of 0.036682, giving a risk reward ratio of 1.8:1. I entered another trade ETHUSDT trade long @ $2,003.1, with Stop Loss @ $1,965.6, and price reached a high of 2,022.0, giving a risk reward ratio of 0.5. 2021/02/07: I had a winning trade! I entered a short @ $1,605.00, with Stop Loss @ $1,628.14, and price reached a low of $1,563.9, giving a risk reward ratio of 1.8:1. About Me I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016. I have worked on Wall Street trading bonds, stocks, and options. I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward. Why Follow Me Daily analysis on the latest market movements and price zones for high probability trade setups. Sharing of live trades that I take. A great place to help each other, learn from each other, and grow together. Trading education including a comprehensive cryptocurrency trading eBook, personal advice, and other educational materials Constantly testing and adding new trading strategies and refining battle-tested ones. DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I will not be responsible for any actions you take based on the analysis and comments that I provide. I am simply sharing what I am doing, and is not meant to be investment or trading advice. What you choose to do with the information that I provide is your own sole responsibility! The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk! Please support me by liking and following, and sharing your ideas and analysis in the comments! Thanks!
by cryptotraderog
ETH Gearing Up for HISTORIC Run? For all you Ellioticians, are you seeing the same thing I am seeing out of ETH potentially? I've only begun studying Elliot Wave Theory this year... Here's what I'm seeing and what I have drawn... We have a multi year 5 Wave sequence. Wave 1 took us to the highs of 2018 Wave 2 took us to the lows of March 2020. We are currently in Wave 3, and inasmuch as Wave 3 can never be the shortest of the 5 waves, we have a LOT more upside to go. Wave 3 may take us well north of $3,000 before we experience a Wave 4 correction. ETH traditionally likes to meet the 21 Weekly EMA in bull markets and if my wave counting is correct, that may not happen until well into 2022 when we experience a Wave 4 correction. If so, that will be the longest ETH will have traded above the 21 Weekly EMA in it's "short history." I welcome the thoughts of more skilled Ellioticians and welcome any links to other analyses. Thanks!
COINBASE:ETHUSDLong
by JustJayChizza