Looking to Short Crypto, Starting with ETH & BTCTrade Idea Following what bitcoin is doing on HTF, and from the look of it btc is reacting to weekly supply/resistance zone and its ready to drop in few days... its in the phase of distribution and its pretty visible on 1D and 4H chart
1D BTC
4h BTC
So now we waiting for price developments further as we reach that 4h supply
What I like most about this is that we respected supply and tapped into that HTF FVG as we swept that daily/4h high, which gives us more confluences for this trade idea to work
4H
Ethreum
ETHUSD next targetshello everyone.... in my previous analysis of eth the price hit the target..
with all the usd news recently the dollar index/dxy/usdx showing weakness at the moment...
this gives an advantage to crypto market... the price of eth may jump to 2400-2500 area since buyer started to jump in today
but first it needs to break the previous high of 2100, currently its sitting on the resistance area...
if price pulls back from resistance while usd is bullish... price can drop back to $1000 or below..
good luck to everyone..
Ethereum -> BoooomHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Ethereum is currently retesting and already rejecting a quite obvious previous weekly structure area at the $1900 level.
You can also see that weekly market structure is overall massively bullish, moving averages are also pointing towards more upside potential so I am now just waiting for any retracement before I then do expect a retest of the next resistance level at the $2400 area.
On the daily timeframe you can see that over the past couple of days Ethereum actually created a bullish double bottom and with today's candle Ethereum is perfectly breaking above the neckline at the $1930 level, so I am now just waiting for a retest of the neckline before I then do expect more upside continuation.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Forecast for the Crypto MarketI wanted to give a quick update on the Long-term TPI for BTC, and how I see the altcoin market doing compared to BTC:
The TPI has had a relatively high value for a long time
I can't foresee the future, but I don't believe that external market factors will allow this to keep going, I do believe we will see a big scare before the next halving of BTC
BTC's strength compared to ETH
As of right now, ETH is bleeding on it's BTC pair. We have been relatively stable since October last year, but BTC has been the safer asset in terms of returns (both downwards and upwards).
How is the altcoin market doing?
I've mentioned in a previous video idea that I believe that alts won't be outperfoming BTC in the near future. The dominance of alts are still on the decline, and the TPI value (-0.71) is indicating that dominance of altcoins will go lower than now!
I've linked my previous ideas on these subjects, as always... Stay safe
What to consider when trading with Ethereum?Ethereum has established itself as a significant player in the digital
currency market since its launch in 2015, boasting roughly 3.9 million
active crypto wallets.
Its popularity is attributed to its decentralized system and native currency, ether, which provide users with a common
ecosystem to communicate and transfer funds between applications
effortlessly. Ethereum's versatility enables it to serve a wide range of
purposes, such as facilitating decentralized companies, crowdfunding
platforms, and e-commerce.
The increasing popularity and technological interest in Ethereum have
resulted in a surge in the value of its native currency, attracting
investors seeking profitability and the potential to revolutionize
businesses. The participation of major financial institutions within the
Ethereum ecosystem has contributed to the growing interest in this technology.
As the number of applications developed on the Ethereum platform increases, its technological evolution is expected to be
fascinating. Some experts predict that Ethereum may surpass Bitcoin in
market capitalization due to its versatility and potential for use in
various industries.
Ethereum's decentralized system and innovation potential are likely to ensure its position as a significant player in the
digital currency market for the foreseeable future.
Investing in Ethereum demands careful consideration and risk
assessment since the cryptocurrency market is volatile and
unpredictable. While optimistic predictions of a significant increase in
Ethereum's value exist, it is essential to approach such forecasts with
caution. As depicted in the graph, Ethereum experienced a sharp
decline following its peak in November 2021, only to surge again in the
summer of 2022.
However, despite the risks, Ethereum remains a promising investment
option due to its established reputation, market presence, and the
ongoing development of new applications on its platform.
Ethereum's relative safety from scams can be attributed to its market position and
reputation, which sets it apart from many lesser-known cryptocurrencies.
Furthermore, Ethereum is one of the top 10 largest cryptocurrencies,
which adds to its credibility and potential for long-term success. To ensure a successful investment, it is crucial to conduct a thorough
analysis and risk assessment, along with adhering to the fundamental
rule of investing only what one can afford to lose.
By carefully considering the risks and potential rewards, investors can make
informed decisions about whether investing in Ethereum aligns with
their investment goals and risk tolerance.
Banking and finance are in a gradual crisisBitcoin (BTC) bottomed out at HKEX:27 ,600 yesterday (2), then stabilized at the HKEX:28 ,000 mark around 10pm last night after oscillating for many hours, and started a rapid rally to a high of HKEX:28 ,879.
It is now at HKEX:28 ,622, up 2.3% in the last 24 hours, after a slight pullback before press time. Ether (ETH) is also moving in much the same way, currently holding the HKEX:1 ,800 barrier, now at HKEX:1 ,833, down 2.8% in the last 24 hours.
Two more regional banks in crisis in the US
As for the reason of this wave, some analysts judge that it is related to the rumors of more banks in crisis in the United States
Shortly before the U.S. stock market opened last night, shares of two regional banks - Los Angeles-based PacWest Bancorp (PACW) and Phoenix-based Western Alliance Bank (WAL) - fell 27% and 15%, respectively, and melted during the session.
Some investors believe the banks' crisis could highlight cryptocurrencies as a solution to the weaknesses of the existing financial system and further strengthen the value proposition of autonomous digital assets.
According to the data, 13,000 people were liquidated within 24 hours and the entire network exploded for HKEX:45 million.
The total amount of the network-wide liquidation was HKEX:45 million. Of these, bitcoin had the largest blowout at $22.91 million and ethereum had the second largest blowout at $10.04 million.
Will Ethereum find sellers at market?Ethereum - 24h expiry - We look to Sell at 1876 (stop at 1926)
Previous resistance located at 1880.
Previous support at 1870 now becomes resistance.
Short term bias has turned negative.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
Our profit targets will be 1756 and 1736
Resistance: 1830 / 1850 / 1880
Support: 1820 / 1805 / 1785
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Bullish bias in ETHUSD as inverse head shoulder is evidentETHUSD in H4 will go bullish if it breaks neckline i.e 1940 of inverse Head and shoulder pattern . However, if it breaks the last LL i.e. 1790 it would go bearish though bullish bias is dominant as there is bullish divergence and bullish reversal pattern (inverse head and shoulder) on the chart. Plan your both buy/sell entry the break of above mentioned key levels.
Trading ETHUSDT with Elliot WavesHi Traders, Investors and Speculators of the Charts 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
In today's analysis, I'd like to present an easy-to-follow guide on using Elliot Waves for trading. Elliott Wave theory will require looking for a pattern of five consecutive waves before making a trading decision. Elliott Wave theory begins by identifying two different types of waves.
Impulsive waves : Move in the same direction as the overall trend, 12345
Corrective waves : On the contrary, move against the overall trend. ABC
Elliot Wave strategy needs to follow and abide by some strict rules in order to validate the 5 wave move. The three basic rules are :
Wave 2 never retraces more than 100% of Wave 1. Typically, the retracement is between 50% and 61.8% of wave 1.
Wave 4 never retraces more than 100% of wave 3. Typically, declines between 38.2% and 50% of wave 3.
Wave 3 always travels beyond the end of wave 1 and it’s never the shortest one; Wave 3 will normally extend 161.8 x wave
❗ as above, A is close to Wave 4
There are also cycles within cycles. Think of it as a broccoli stem, where each flower head is composed up of many tiny smaller flower heads:
Elliott Wave theory will require looking for a pattern of five consecutive waves before making a trading decision. Impulsive waves and corrective waves are perfect opposites. The most important thing is to observe the Macro trend before using Elliot Waves in other words, is the price in a bullish cycle or bearish cycle? Here are the basic steps to follow when trading with Elliott Waves:
Step 1: Learn the Theory
The first step is to familiarize yourself with the Elliott Wave Theory, which is based on the idea that financial markets move in predictable patterns. The theory suggests that market prices move in waves, with each wave representing a specific part of the overall trend. The theory identifies two types of waves: impulsive and corrective.
An impulsive wave consists of five smaller waves, which move in the direction of the trend. A corrective wave, on the other hand, consists of three smaller waves, which move against the trend. Understanding the basics of Elliott Wave theory is crucial to trading with Elliott Waves.
Step 2: Identify the Trend
The next step is to identify the trend in the market you want to trade. This can be done by analyzing the price action on the chart. To identify the trend, look for a series of higher highs and higher lows for an uptrend, or lower lows and lower highs for a downtrend.
Step 3: Look for Wave Patterns
Once you've identified the trend, you need to look for wave patterns within the trend. An impulsive wave is made up of five smaller waves, and a corrective wave is made up of three smaller waves . These waves can be identified by analyzing the price action on the chart.
Step 4: Use Indicators to Confirm the Wave Patterns
While identifying wave patterns on the chart is important, it's also a good idea to use indicators to confirm the patterns. Some of my favorites include the Relative Strength Index (RSI) , Moving Averages (MA) and CryptoCheck START v3.
Step 5: Enter and Exit Trades
Once you've identified the trend and wave patterns, and confirmed them with indicators, you can enter a trade. You can use the wave patterns to identify potential entry and exit points. For example, you may want to enter a long position at the start of an impulsive wave and exit when the corrective wave begins.
Step 6: Manage Risk
💭 Finally, it's important to manage risk when trading with Elliott Waves. This can be done by placing stop-loss orders to limit losses if the trade goes against you. It's also a good idea to use proper position sizing to ensure that you're not risking more than you can afford to lose. On the chart I have wave 4-5 hanging in the air atm, let's get to wave 3 first and then we can re-asses where 4-5 may be. Important to note that is is a longer term trading plan.
_______________________
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CryptoCheck
ETH Upward Break Update ( 2 Scenarios )This is an update to my last Ethereum Post.
I was off a little on exactly when this was going to pop slightly but eventually did have an upward break!
Now we are faced with 2 scenarios that could happen.
Currently Ethereum is in an Upward Trending Channel on the 4hr chart and has recently tested the bottom of this channel.
Scenario 1:
Since price has already broken upward testing and failing at that key level I am looking for a strong retest and bounce back on the trend line.
This will determine whether it is going to break down or continue up and hopefully have enough power to go straight through this key level if the bulls really step in.
Looking back at Ethereum this key level seems to be a huge resistance level... If we can break this I am confident we will go to the Supply level or even the top of this channel!
Scenario 2:
Since we have already tested and failed this key level, price can go back down into this trend line failing a retest and is a clear bearish sign.
Once it does this it is possible for this to break below its support line and break down into the demand zone testing the bottom of this channel once again.
I will look for a retest on the support line once it has broken below then enter my trade.
As always trade safe and don't risk too much! Wait for confirmation!!!
ETH about to make a move: Get this sniper entry!It is very likely we go to the value area in the mid-term. ETH is trading a bit too high relative to where most liquidity is
Go down to the lower timeframe to get your good entries:
I linked my previous idea that explains the method
The three fib levels are the take profit targets.
Changes in current market volatilityAfter some research in November last year, the overall position in the market was about 30% according to the statistics at that time. Now more than 4 months have passed, and the statistics are obtained again. The current position is about 40% to 45%. The above are all conservative statistics
The increase in B price will also passively increase the position. There is a possibility that the stable B speed of the user’s recharge cannot catch up with the increase in B price, so the subsequent space still depends on incremental funds, otherwise the space will be limited.
Trends and directions expected to be observed in the short termThe overall trend in ETH may have shifted from bearish declining to bearish palm as the trend line has been broken by a strong bearish palm candle.
On the 4H chart, we can see that our mai entry setup has been triggered as the trendline has been broken by a huge palm candle.
Expectations exist for continued bearish declines on both the 2nd and 3rd days, and expectations exist for an upper palm on the 6H.
Trend: First palm (6H), then declining (3 days)
ETH: resistance near 1930
Short-term appear small back off can be homeopathic open more, haze into my tips near the resistance position, by hand to short down