ETHEUR trade ideas
Ethereum strong reversal signalsETH showing strong support above the 26 weekly EMA. Whether it stays above it is more of a macro thing..
the cyan line showed support when drawing the chart in log scale, shows resistance now.
The RSI and ECMA both show that it is oversold, and frankly it is the lowest it has ever been since the sell of started in december/Jan, as opposed to BTC that touchced its lowest point a few weeks ago and recovered from that. For this reason I expect a very strong reversal as other currencies may flow back into ETH, assuming there won't be any bad macro news soon.
BAT PATTERN on ETHEUR - BullishHello everybody, a bullish bat pattern just completed on ETHEUR some hours ago; let's now see if prices will be able to close above the EMA20.
The trade has an interesting risk/reward ratio (2.2), our SL is placed just above the X point and first target will be EMA200 where prices could possibly bounce or begin an upward trend.
Let's see if this one will be a good moment for Ethereum to recover finally.
Leave a comment if you wish! :)
Trading is democracy, there's no rich or poor, everyone has a chance, everyone can have a good idea. At the sunset only the wins count.
The Decision Was Made (ETH)Hi everyone !
So we can see that the drop happened and the decision was made, this makes everything a bit easier because we at least now have a confirmation on that this is a extended downtrend wave and we can set us up properly for the next price movments.
I'm a happy bear because i always like to collect cheap ETH, and I hope you have the same mindset here.
If you don't have this mindset, you should understand that that parabolics (large price suges) always ends like this, ETH is no exception.
However, I must admit that I saw a glimmer of hope initially, but I have always remained sceptical of another big run after such movement as ETH had in the recent months.
But since we profited of it it's all good, now we profit again off the bears and people who sell in panic, but we plan ahead and execute it without hesitation.
So, this is my set up for ETH the coming weeks, i will be using my other chart to get a bigger overview along with this one.
I will update this chart when we hit key price structures.
Next validation will be at the "support & breakout zone" i see a bounce coming there, which will be rejected at the green support line acting as resistance, if that rejection happens we will revisit the support and breakout zone again, if it were to break we should go for a more in depth analysis on how to finalize our position set up.
Good luck
ETH heading to the moon?If history repeat itself, this is my vision for EHT/EUR (sorry if I didn't chart in USD, but you can alway make a conversion).
Previous cycles look pretty much the same for Ethereum. Once it touches the bottom in the next 5 to 7 days at around €550, it will start to climb up to €4200ish by the end of May.
The red dot-line is the SMA200. In the previous cycle it uses to touch the bottom a few days after ETH, then they will start an uptrend together.
Trade safe!
Ciao.
ETHEUR - Beginners Analysis - Short TermHello,
This is my idea of what may happen to ETH short term.
At the moment the falling wedge pattern is building which is a bullish indicator but it still requires confirmation and we will only know for sure when the trend picks up and breaks through the green triangle. On the other hand if it breaks downwards then we may be heading for descending orange triangle pattern which is a bearish indicator. The circled area is the one to watch.
At the same time BTC is going through a rising wedge pattern which is a bearish indicator.
Any constructive comments highly appreciated :)
Heeey, this seems.. relatively accurate.. I.. guess..Hi, i'm new in this world and i'm still learning a lot, I did this earlier and I was wondering if any pro here could tell me if there's any corrections to make.
If i'm correct, ETH could break above the downtrend line (in green) after retrieving a upward momentum. RSI looks good too.
The white resistance line is an old one, don't mind it.
Anyways, every critics are welcome, actually, I think my waves aren't even correct.
And cliché: sry for bad english, meh is french.
Direction without Decision (ETH)Hello Everyone!
Let's take a look at the 4h ETH/EUR chart.
From what we can see right now, it looks like the right shoulder formation is about to complete very soon.
We can see that we are currently resting against the uptrend support (dotted light blue line), if this were to get violated, we will probably see a drop directly to the green line below (Trendline Support Zone #3) - or close to the white support just below it - then a continious drop further to around the Trendline Support Zone #1.
But If we manage to climb along the uptrend support extensivly (Green Zone) the H&S will be invalidated, as we need to touch the neckline to complete the pattern.
Red Box = Price movment inside the box = confirmation.
Entry zone Green box, watch the trajectory of the reversal against support zones/trendline support zones.