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False Breakout on Ethereum Since Ethereum has been surging over the last few hours, let’s go ahead and check out its price action to see what may be next for investors. The first thing that we can observe on the price chart for Ethereum on the daily resolution is that the EMA-200 (purple line) is looming directly overhead to serve as a resistance for further price action. This is something that traders should definitely note. Potential Ascending Triangle Formation Many (including the author) have noticed what appears to be the makings of an ascending triangle (flat-top triangle). These are bullish continuation/reversal patterns that often lead to major gains. In fact, it is the fulfillment of this pattern that led to Bitcoin’s massive gains. Let’s see how Ethereum matches up with this chart formation on the daily resolution: From what we can see above, the current price action for Ethereum does have all of the trappings of a flat-top triangle. Let’s go to the current price action (down to the candle) to see if the current day’s price action reflects a true breakout: At first glance, it does. However, what is seen above should not be considered to be a true breakout. Why? When Volume Does Not Match Breakout, it is a ‘False Breakout’ Notice the lack of volume to accompany this move. That’s one of the classic signs of a false breakout. Relative Strength Index RSI = overbought, but that does not necessarily mean that the party is over. However, given the current volume for $ETH, resulting in a false breakout plus the strong overhead resistance that will undoubtedly be posed by the EMA-200 on the daily resolution, the author is currently a bit more bearish on Ethereum than the general crypto audience. Conclusion Without creating too lengthy of an exposition, we’re going to go ahead and opt for a short position on this trade, using the EMA-50 value on the H4 resolution as our guide here.
KRAKEN:ETHUSDShort
by librehash
5
Ethereum Looks Nice For a Short As Well`It’s been a little while since we’ve really taken a strong look at Ethereum on a price basis, so we’re going to take the opportunity to do so here in this piece. So, from first glance, we can’t witness anything remarkable occurring with the price of Ethereum via the chart above. However, there are a few patterns that are worth isolating and analyzing before proceeding to make any conclusions about future price action. In the picture above, we can see a substantive downtrend on the 2-hour chart for Ethereum stemming from October 8th, 2018 (approximately, 2.5 weeks). While this pattern is a short-term downtrend in relation to the larger one created by the all-time high that Ethereum reached earlier this year, making it easier to break, it is still a formidable resistance to future price action. If you view the chart below, you can see that the price of Etheruem is on a trajectory to seriously test this short-term downtrend on the 2-hour time frame: Thus, this price analysis is partly about assessing whether or not Ethereum can break through this resistance and exploring the implications in either scenario (it breaking the resistance or not breaking the resistance). Assessing Price Momentum The most common way to assess price momentum is through the RSI(14), however, in this case, we will look directly at the candles that are formulating themselves on the 2-hour chart for Ethereum to get a better idea of the price’s momentum: For those that do not know, these candles are very indecisive and certainly not bullish at all. The ‘small body’ of the candles you see in the chart above is indicative of very little price movement. The ‘wicks’ that occur on the north and south of these candles is indicative of the neutrality of price movement that has been occurring in the markets for Ethereum in the past few weeks. If we scroll out, we can see that in plain view on the chart as well: From the picture above, we can see that the price of Ethereum is near the apex of its symmetrical triangle. In a nutshell, the shape of the ‘triangle’, which is drawn via support and resistance points on the chart are the crux of what determine whether something is a symmetrical triangle or not. The breakout can either be to the north or the south or perhaps the pattern may not fulfill itself at all. They may not sound helpful, but it’s something that will be extremely helpful in explaining substantial price action in the near future if it does occur for Ethereum. What Happens Now? As mentioned above, the price is currently nudging against that downtrend resistance (diagonal line going downward over top of the price). So, we want to see if we can make an educated guess about whether it will break above or bounce off it and start shooting down. Once we’ve made that assessment, we can start strategizing our next maneuvers from that point. Relative Strength Index(14) The RSI(14) on the 2-hour is relatively positive for Ethereum. Although the relative flatness of the line is reflective of the extreme consolidation going on at the present moment. Above, is another look at the uptick in the RSI(14) in recent periods. Now, let’s check it out on the daily: On the daily, we can see that the RSI(14) is actually headed downward, overall. That’s definitely not a positive sign for Ethereum bulls, especially when considering its recent price activity over time as well (it’s provided the greatest negative ROI of any other T10 coin since May 5th). It’s worth noting that this information is provided to us in the midst of a severe downtrend for Ethereum. Conclusion The author believes that the chart is showing indications that the price of Ethereum will definitely decrease in the near future. The author’s R/R idea is as follows:
BITFINEX:ETHUSDShort
by librehash
Ethereum Could Bounce Soon With the Market: $270+ Potential As one of the more volatile members of the T10 cryptocurrencies, Ethereum is something that mandates special attention for traders that dare to venture into the land of the ‘unknown’. Ethereum Price Analysis The picture above shows Ethereum on the H2 chart (H2 = 2-Hour Time Chart). As you can see above, the translucent boxes show that the uptrend line that has formed itself is well tested at this point, with several rises after the re-tests. At this point, after four tests of the line, we can consider this to be a reliable point of support for the price. Thus, since the price is currently trading against this line at this point, it is reasonable to expect that there could be a potential price gain in the immediate future (immediate since its the H2 timeframe). Relative Strength Index(14) The RSI on the H2 time frame shows the RSI speeding toward the oversold point. Normally, in a bear market this would be something that would be of no greater consequence for us. However, since the overall trend on the higher time frames dictates that the positive momentum is still in full swing, this is a condition that we could be justified in seeing as temporary. Above, is a picture of the RSI(14) on the daily chart. As one can observe in the picture above, the RSI is still increasing at a steady pace with a marked trend. Therefore, the data that we observe on the RSI(14) for the H2, in the author’s opinion, indicates a period of consolidation rather than the beginning of a downtrend. In order to confirm, let’s take a look at a few other indicators. EMA Mean Regression This is a custom indicator that we have yet to use in the bear market, but one that would be useful in this scenario. This indicator is useful in the lower time frames because it does a few things: 1. Gives us a multitude of buy and sell signals. 2. Helps us to anticipate when there may be a potential uptick in the price. Based on what we can see above in the H2 time frame, it appears that an impending uptick in the price could be around the corner. One of the basic principles of EMA indicators is that the closer they become to one another, the more likely it is that they will cross in the near future, which would signal a reversal in the price movement. Currently, that principle is espoused in the indicator above through the narrowing or thinning of the mean reversion ribbon. This is exemplified in the picture above via the translucent green box for those that were not able to identify it earlier. The ribbon itself signals a resistance and support point contingent upon whether the price is above or below. At this point, the price is below the EMA mean reversion, which makes it a point of resistance. As we can see on the chart above, the overhead resistance is hanging at $237. Therefore, as a starter, the price should at least break through $237 before we really begin to become bullish on the price action again in the short-term. Exponential Moving Average The EMA-26 is also hanging at the $237 price mark as well. Conclusion Based on what was shown above as well as in other indicators, there is probably more consolidation that is due on the Ethereum chart. Advocating a long position at this point is not something that can be done definitively at this point if one wanted to maximize their R/R. However, the convergence of the EMA indicators as shown by the EMA mean regression (custom indicator) above yields credence to the idea that there may be a reversal in the price in the near future. Targets As you can see in the above picture, the price did ascend past the resistance point that it was nudging against (marked by the translucent green triangles). After the price surpassed that point, it then re-tested (the phase that it is in currently). The maximum overhead resistance, according to the Fib levels, is marked at $275.
BITFINEX:ETHUSD
by librehash
3
ETHEREUM AT LOWEST LOWS SINCE NOVEMBER 2017 !!!Bitcoin! Bitcoin, wow look how good it's doing let's buy some!! No. If you have been in crypto more than a few months you already know to NEVER BUY INTO A BULL RUN. So while I'm waiting for a good entry for BTC I decided to check on good ol' Ethereum. The chart honestly looks amazing so unless you truly think Ethereum is about to totally die (it's not). I got in at $283 , noticing some serious short term bullish indicators on the RSI. As you see we are being confined to my "red zone" , price staying steady but RSI experiencing some pretty heavy swings. Ethereum is still #2 under Bitcoin for overall market cap and it's oversold with extreme upward potential. So many ways to play this, but I think the best bet is to HODL. I remember Ethereum going from 350 to 700 almost overnight shortly after some negative press, and surely has the power to do this again. This looks like a perfect setup for alt season. ETH/BTC and ETC/USD are both looking very tasty right now. I think BTC needs some sort of correction before heading upward, so maybe the focus will shift to overlooked ETH for a bit. That's what I'm hoping on. Of course I am not a professional financial advisor and this is not financial advice. Trade safe. Please leave a like if you agree and feel free to troll me in the comments below!!
BITFINEX:ETHUSDLong
by peakindicator
10
Ethereum Price Analysis: Probably a Great LONG-Term and Short-TeSo, let’s not make any bones about it. I was wrong on this call. Unfortunately. Stopped out! Above is a look at Ethereum on the H6 chart. I pick the H6 because it tends to give me the best of both worlds when it comes to the lower TF charts. What Happened So, as the price of Bitcoin (specifically) spiked, Ethereum did not go up with it. This is the case for many of the other altcoins in the market during Bitcoin’s run up to $6.9k. However, as the price of Bitcoin began to consolidate it’s way back down to the sub-$6.5k range, the rest of the market continued to plummet with it. As you can see in the screenshot above, Ethereum was no exception. Ultimately, despite me being wrong, it wasn’t an egregious mistake because the price of Ethereum hasn’t necessarily gotten throttled. Currently, it’s down about 7% from where it was at the entry of the trade that I had recently listed. The S/L was only 3% down to maintain our >1:2 R/R ratio. There’s definitely potential for a double-bottom if you look at it correctly on the chart above. I made it a little easier to identify with the golden circles. Of course, the price would need to breach $318 first. Fibonacci Levels For those that believe in the Fib levels, this price has buoyed right against that 78.6% retracement mark rather well (this is on the daily). Conclusion This is a fairly short analysis, because I didn’t think we needed to do too much with this. The price is pretty self-explanatory at this point when it comes to $ETH and we’ve already laid out the overhead resistance points. I don’t anticipate that the “bottom” for $ETH is more than 50% below where the price is at this very second, and that’s probably true for most projects in the T100, so buying here and just holding for the long term isn’t a terrible decision at all. In my opinion (not financial advice), if you are not a trader but you’re still someone that is looking to hop in the markets and make a couple bucks from holding some good positions, Ethereum looks like it’s a good buy. I’m not sure how long that it’ll last in the grand scheme of things, but I imagine that it will one day surpass the price that it is at now. If it doesn’t, then it’s just simply going to die. So, we’re getting at that point in the bear market where you either have to “believe” in the tech itself, or accept that it’s going to die. Pick one. And if you believe in it, then investing at this point sounds like a righteous idea. If not, then stay the hell away!
BITFINEX:ETHUSDLong
by librehash
Forgot about $ETC? Get ready for moon.I have a mid term target for $ETC @ 340k sat. Roughly 50% upside from here within the week. My message to my signals channel: TL;DR. I am holding $ETH in anticipation of the SEC meeting. Also holding an even amount of $ETC in satoshi value as a hedge. A number of #TeamNeverWorkAgain members have reached out to me about what to do with their spare $BTC. The other day we made a call stating we were moving roughly half of our portfolios to $BTC and it played out quite nicely. Yes, alts are red, and they look like attractive buys, but we don’t feel this is the bottom yet. Protecting your satoshis in $BTC is a great move as $BTC has been charging up with no indicators saying that it will stop. Feeling like you need to be in all alt coins is FOMO. We are just beginning alt season in my opinion and this is a healthy pullback. In this market, the impatient give their money to the patient. I’m holding off on almost all alt purchased until they look fully bottomed. That being said: I am holding a fair amount of $ETH. This is in anticipation of the SEC conference on Monday discussing whether or not $ETH will be deemed a security. Many of us have learned time and time again that putting all your eggs in one basket never ends well. It causes emotional thinking and often drives to panic selling. As a hedge to my bet on $ETH, I will be holding an even amount of satoshi value worth of $ETC. Why? One of the major factor in determining whether or not $ETH will be deemed a security is that $ETH raising capital from a public sale is one characteristic of a security. $ETC however did not raise funds through public sale. In my opinion, $ETH will fall in the short term if it is deemed a security, but will have an inverse reaction and appreciate in value from a fundamental standpoint that it is not a security and consequently will be more difficult to regulate than $ETH. Please do not be concerned though about $ETH in the long run. I believe both outcomes, $ETH being deemed a security or not, are bullish for crypto overall. If $ETH is classified as a security, institutions that have been on the sidelines will take this movement way more seriously and likely start to join us. If $ETH is not deemed a security, we will be closer to being officially considered an entirely new asset class which in my opinion will have the space going crazy! On top of all this, $ETC’s weekly chart looks so good that I am going to hold it for a few weeks time. Just look at that bowl baby! Please remember, you know what’s best to do with your own wealth. This is our opinion and should not be taken as financial advice. Yours truly, J
by TeamNeverWorkAgain
11
Made this for the Ethereum lovers that wanna go all inHey Ethereum fan boys hope your day is going well I know mine is. I can't believe you really panic sold all your precious Ethereum tokens this low again! oh wait actually I totally can because humans are emotional creatures that never change. The title is a joke never go all in on anything! or all out for that matter (yes I'm calling out the people that are 100% in USD or USDT right now WHAT ARE YOU THINKING?) risk management is key I like to keep the following for my trading accounts. 30% - 40% Bitcoin 30% - USDT/USD (sometimes a bit less sometimes a bit more depending on how much Crypto I have accumulated in times of high panic or how much USD and USDT I have accumulated from the times with heavy greed) Remaining % in Alt-coins (usually 2 - 3 month setups) This is a really good spot to pick up some oversold Ethereum though if you don't have any you might as well buy some or start to average into this panic. Also quick warning _ people you need to learn how to stop checking around on twitter / tradingview for TA all the time and start doing your own TA so you can get a clear perspective on the market this helps so you don't start following bad traders and also so you don't get caught up in the FUD and terrible TA swarm that thrives on twitter and tradingview I have seen top artist that don't even know how to draw a correct H+S pattern so you have to be mindful of who you trust even if they are popular on tradingview / twitter make sure they have kept a clear head through all of the price movement and are unbiased to both directions or outcomes (using primary counts and secondary counts so you can make plans for both outcomes.) it is also important to pay attention to their level of accuracy with entries / targets . Anyways hope everyone is keeping a clear head and accumulating in this dip! Crypto is far from dead and these coins will do bullish market cycles again - goes back to the start humans never change the mood of the space will change though and people will start impulse buying again just as they impulse sold.
Long
by High_Altitude_Investing
14