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Accumulation

ETH/USD LongETH/USD could be ready to gun for ATH within the next week or two. MA30 has crossed back above the EMA100 which during this bull run has been a big indicator of continued momentum to the upside, this is not something to ignore. If price confirm flips the MA30 as support there will be more conviction in this target playing out. A Cup and Handle has formed inside the accumulation area marked by the gray lines. As long as the bottom trendline of the handle holds and price doesn't close below the .5 Fibonacci retracement line conviction in this play will be increased. Target for the C&H, derived from measuring the height from the lowest wick on the cup to the neckline of the cup, puts the price of ETH after confirmed breakout from the handle at $2,468 Further extension to the 1.618 fib retracement line is possible at $2,514 even going as high as the upper gray trendline Ichimoku (not pictured would make the chart messy) It isn't fully bullish yet so this play requires more confirmation before taking a less risky long here: -Bearish TK cross happened, the Kijun now above the Tenkan -Lagging Span is in the candlesticks, needs to be above price to be bullish -Kumo Cloud is green which is bullish -TK is above the Kumo Cloud which is bullish -Lagging Span above Kumo Cloud which is bullish Not entirely convinced just yet, However given a few more candles with a: -Confirmed bullish TK cross -Lagging span above price -Price S/R flipping above the top resistance line of the handle -Price S/R flipping MA30 then we would have a higher conviction long into All Time High territory EIP 1559 is a major catalyst for ETH growth as well implementing a deflationary concept into ETH by burning more ETH the more fees are paid during transactions on the blockchain making itso total supply will stagnate then start decreasing at a rate of 1-4% a year is inherently bullish. If not these next coming two weeks, this price target will be hit sometime in the near future regardless. It is just a matter of time.
BITSTAMP:ETHUSDLong
by Hrempe
BTCUSDT | Wyckoff Accumulation Before Huge Growth?Hello, dear subscribers! Let's take a look at the very interesting scenario for Bitcoin which can play out. The market was in the massive growth stage before this nasty correction occur. The drop was really rapid but the price formed the preliminary supply and the selling climax points. You can check the article about Wyckoff cycle with the link below, but i will remind you that the Wyckoff accumulation process of transferring the stock (or cryptocurrency) from retail investors (weak hands) to institutional investors (strong hands). Retail investors are in panic during this correction, while institutionals do not miss their chance to buy Bitcoin at lower price. During last week we have a lot of messages that some huge corporation buys Bitcoins at prices below $50000. For example, today MicroStrategy has purchased an additional 205 bitcoins for $10.0 million in cash at an average price of $48,888 per Bitcoin. So, if we are really in the Wyckoff cycle now there are two scenarios can be. 1. White scenario. We are goin to start the Phase C of the cycle. In this case here can be a lot of shakeouts. The whales usually manipulate the market at this stage. The price is not going to drop significantly below current level. In Phase D it will rise to resistance level and form the sign of strength before continue move to the upside. 2. Red Scenario. Do not panic if the price reach $42000. The scenario with spring is also possible. It is nice opportunity to buy cryptocurrency before the uptrend continuation. Please, give your experience of Wyckoff cycles trading in comments and give us your support with like! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
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