Long

Updated

ETH, Whats going on? Squeeze and tease! Bullish beasts exists.

----- SCROLL DOWN TO SKIP INTRO -----
Hello Traders, followers, hodlers or simply crypto enthusiasts. Are we expecting the price to shoot to 1200€ soon? I say ; too soon buddy.
But! We have some bullish signs. All we need to do first is assess the situation:

I have made some pretty good calls here in TW, but always i suggest that you always make up your own mind, if thats something that makes sense to you.

------- END OF INTRO ---------

- Price has risen from 292 euro up now all the way to a peak of 436. I would say that if you bought in under 300 or in the low teens, taking profit would have been a good idea in the 420+ range.

Besides that, we have to change our outlook further to see what lies ahead.

- Keep Eye on the rising support, will it break and make a steep correction down? Or do we get feinted into a little more bull rally traps?

My assessment is that a retrace to the 370€ is the least we can expect us. We have to keep eye on the support levels , most importantly 392 - to hold to secure more gains.

If 392 breaks we could see a retrace to the origin of the bullish upswing from 370€ - but i doubt there is much strength to it. Therefore i look took to get in around 350-340, or even better around 330-322

My mid long term outlook on ethereum is bullish. I think Ethereum will recover nicely along bitcoin. But not to our expectations, I have modest expectations and we could swiftly get our head chopped down to new lows. Prepare for the best scenario (Or worse, it's 50/50 in the end). Trade with brain not heart.

-------- ENTRY/TP RATING -----------
MY PERSONAL ENTRY ZONE RATINGS
A+ 322€
A 330€
A- 340€
B+ 350€
B 360€
B- 370€

EXIT/TP ZONEZ
A+ 625€
A 574€
A- 540€
B 515€
B+ 497€
B 449€

-------- Key stuff ---------------
"Approx. two weeks of consolidation around 300, further declines stopped at 392, bullish activity increased."
"The Printings of higher highs and higher lows confirmed"
"A break below the support rising trendline can bring another good oppertunity to buy for mid term long set up."
"Bullish flag ! , bearish hs inside !....Mixed signals, market showing a bit of weakness, more volatility to be expected"
"Break below 397€ indicates decline to the buy zones as probable to medium high"

------IMPORTANT -----
A break below green lower channel indicates temporary uptrend/support holding has come to an end, and we look for more downside in the longer term.--------------

-------------
GOOD LUCK

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Added visual handle for the cup

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Imagine the handle of the cup in layers, the end of the layer is the least chance we really think the lowest price we will reach in this channel, imagine a price slightly above that one that u think may get filled.

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Kinda messy description what i mean, but i hope this Picture clears up what im trying to say about imagining the cup handle in layers. We need to anticipate where we can get the best price but still keep it realistic short term.

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Right now the price is struggling to get back inside the bullish flag - I don't see this happening (but please do surprise me)... :D

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Very intresting move, we got back inside the flag.... But will we break they key resistance of 437 ? Keep on surprising me ....

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Visualisation

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Btw guys even tho I’m leaning bearish here and expect a drop, the bullish flag can always realize itself but 430+ holds significant resistance at this time. Therefore i expect price to take a dip. Thats what Im anticipating anyway.

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If you're in this flag and have a long open since earlier and want to stay in the game but still keep it safe, keep SL at 390. You can trail the SL up to 435 if we manage to break it.

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I wonder what the whales are cooking here, Interesting patterns. My theory is that they try to make the market believe that there is more strength to it than it is.
We have a pattern shaped like an M on the most recent frame. Possibly to keep shorters in check, making bulls and bears second guess the flag, my opinion that this flag will break down is more certain by the hour, so a dump will come soon enough but the question is how low we will get. I think 350 is a Nice number with good odds to get filled, but i rather have some orders filled around 320-330 as u know

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Early to mid May i think price will be around 500-800€

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We climbed back to the top of the flag, but basically nothing really had happened yet, and I dont trust this flag :)

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And the rejection happened on top of the flag... ZzZzZz.
Don't trust it guys,,, UNLESS we smash to 450... But I don't see that happening...The rumors is that it's the exchanges that are inflating the price to kill shorts. That being said, expect longs to get killed as well.

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We have a break above the flag! 439 now, I’m still gonna pass until i see 451. The break could just be bait to pull in more longs and keep shorts under control. I’m still looking to get in mid 300 now, I think we need a correction let’s see if the market agrees or if we will see a small FOMO push us even higher.

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This is just crazy :)
Thanks @mattgarbutt for brainstorming

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I should stop checking other peopls TW, def. influences me to much with (too much) bearish thoughts. I had a reason why I added "against the odds" on my chart when i made i put 100% of my position in a long. :)

That said, I trust myself more than anyone else on TW.

SO i am here to make Another BOLD Statement JUST like this one.

Bottom is in? Maybe. Trap? Maybe. Trading it.

Remember this was when everyone was still pretty much bearish. Now the bears are starting to get bullish (well kinda).

SO do i turn bearish now when we are bullish - NO!! Not this time. But - big but!
We will have a correction, that i am certain of.

I see a surge up to 500 range (well, we can already smell it now, can't we?).
Screw the Dip, we are not looking back boys. Not for a while. THE BEARS ARE ABOUT TO GET DESTROYED, and i mean TOTALLY annahilated.

Just take a look at the chart above, everything 100% lined up for 500 to happen now. No doubt in my mind.

Let's have fun. Just spitting it out here.

BOOM 500.... followed a bit of selloff
BOOM 630 - Oh snap, Are we talking REAL fomo now?
BOOM 736, That was fast? Sell Sell sell... Nah.
BOOM 841, Damn, now you're fomoing.
OUCH, u put us back to 630, think u got us now bear? NOPE u lose.
Sup bear, look at this green dildo.
We just broke ATH in record speed, 4 months from now.

The bubble everyone will speak of.
And i will be #1 trending on TW :-)

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We will have a correction, that i am certain of. But the thing is - it's not worth wasting energy on. Get in on a long now, you won't regret it :-) set your SL comfortably and enjoy the ride. Don't panic on the small downs, because they will be nothing compared to the surge we are about to see..

And. IF we have not broken ATH before the end of July 2018 i will stop charting TW. and delete this account.

And If I'm correct (which I am) u are welcome.

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I'm not backing up this idea with a chart yet ! But it will come soon enough.
When we reach 630 i will show it to u guys :P (Should be between 5th and 10th of May)

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If you scroll up you can see that I messed around with with some flag patterns.
There is a secret to it. I drew those flag patterns in theory. We can already see them playing out. Ok, so what?
Well. The fib retracements just happened to fit in perfectly some how....
So i continued to theorize, these patterns just come to me for a reason, thats how i was able to predict 481€ when we were at 302€

I made a mistake, that was to deviate from my own thoughts and theories and get influenced by other peoples thoughts. But that is history.

THIS is what i see now,
And again, i continued to plot this with NO idea about fibs I added the projection based on the patterns, and added the fibs after....
And guess what?
This is only the beginning

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So basically thats the end target i can see right now, based on the projection of the first flag, the second flag will be just as large as the first one. But i cant see much past that Point. so i will Watch how this develops. I'm expecting this pattern to correct somewhere between 598 and 538 but eventually we will reach 675.

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If i zoom out, it looks like this, Does this look legit to you? For me it certainly does give the feeling of symmetry

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I hope i helped some of you guys/gals profit!
Please let me know if you had use of my charts,
Helps me to keep up motivation to bring u guys updates.
Discuss, brainstorm, we are here to help eachother to become more successful.

We always learn the hard way , I had obviously not learned my lesson to stick to my plans, especially when I see that they come true over and over again (Well - Almost !)...

Thanks for your thumbs up and comments

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Also thanks capraz for your valued comment,

I have added a dip to my flags (if we hav a dip i see 425-450), and it also fits into the picture quite well.

So either we go with flag A (only minor corrections on the way up)
or we go with flag B (Steeper correction) if this theory stays true ....

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Not looking to spread FOMO with these theories :)
But we have to explore all options so we have a plan to work around.
We have to keep in mind that even tho we have a super good rally thus far and the outlook currently is great, the action at 300 could have been distribution, that means that someone will drop the ball first and we could have a tsunami down.

But I'm gonna stick to my bullish outcome ! Thats what I need to do.
Even so, I will present a alternative bearish Idea as well later.

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All i can say is that , right now, to keep this rally going as expected - we need to stay above 452

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Congrats if u took TP on my target 574 :-)

Trade closed: target reached

ethhunter

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ethhunter