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When will ETH drop under $1600?Today's post is short and sweet, I hope you will enjoy it! 📰 Wednesday is here and it seems that ETH is about to complete H&S pattern. The market indicates some level of excitement, however, at this point, there is no clear data on which way the market will turn. All-day yesterday the market was really pushing for a breakthrough upwards and have been rejected at least a dozen of times around ETH $1715 mark. There was an attempt to break below $1650 and it bounced right off it. At a Macro level, market is 💯% declining in line with the H&S pattern that we have been discussing recently. At a Micro level, the situation is a lot less appealing. Strong signs of the market slowing down, volumes and volatility dropping. 1% uncertain profit or loss is turning traders away into seeking other, more exciting opportunities. Today's technicals: Position Short-ish (as you may have noticed, for over a week the market is ~50/50 with no significant wins/losses, low volatility with a slow decline at a Micro level) Forecasted high at $1720, $1760 Mid-way point at $1760 (meaning that ETH although discounted, keeps dropping) Forecasted lows at $1650, $1630 and $1600 Have fun trading or taking a day-off! 😎 If you would like to get early access invite to DataMoney ETH technical analysis, write what other more exciting opportunities are you trading today 💰
Short
by DataMoney
1
How low will ETH drop? An overview of this and last weekFirst of all I would like to take a moment to say thank you to all of my fans and followers! It is hard to believe, but DataMoney already have over 500 followers! Our community is growing and everyone is excited to see what the future holds! Fun fact - If my post says that ETH will go up, I get 3x more views and 3x more likes compared to neutral or price drop posts 😅 As many of you have noticed, there were fewer posts last week. That is mainly due to 2 reasons: 1) It has been just silly busy the last couple of weeks here. You must have noticed this in my last posts. 2) Last week was a slow-burner. Basically, after you have read my last Monday's and Tuesday's posts "Will ETH follow H&S formation? Get ready for price action!" and "ETH is going down. Opportunity to short", you already had all the info needed for the rest of the week. Macro and Micro level data remained more or less the same for the rest of the week. Market stalled and many traders just took 4-5 day long weekend off 😎 A quick recap On Monday, 15th March, we confirmed that ETH is forming a Head and Shoulders pattern and it seems that strong resistance has formed around $1750 and $1730, we were getting ready for price action! On 16th, we draw to attention a possible worst-case scenario of a stale market. Where too many constraints prevent the price from moving up or down, it can make the rest of the week a bit difficult by pushing ETH into limbo. Unfortunately, that is exactly what happened. On the 18th we went for a long weekend with "kumbaya" till the market drops below 1700 at the start of this week and here we are. This week Both Macro and Micro level data suggest a further drop of ETH price🔻 It is unclear at the moment what will be the bottom, however, $1600 is the #1 suspect and it all depends if data would indicate any strong support formation. Although we all know that crypto markets are unpredictable, current data suggest that this pattern will continue for the next 2-3 days. In case of low volatility, we will remain at the current price range and in case of high volatility, we can end up anywhere on the price chart. As for today, we are looking at standard Mirco pattern breakout either up, if it breaks up and forms support at ETH $1660, OR down, if it breaks below $1620. The latter is more likely in line with the declining H&S pattern at the Macro level. Today's technicals: Position is Short Forecasted highs at $1660, $1690 and unlikely $1710 Mid-way point at $1780 (Yes, ETH is well discounted and at the moment it seems that anything under $1660 is a good buy, unless it drops to $1600 😉) Forecasted lows at $1640, $1600 Have fun trading! 🤑 If you would like to have early access to DataMoney ETH technical analysis, write "I am a DataMoney fan! ETH will go up!" or "I am a DataMoney fan! ETH will go down!" in the comments down below.
Short
by DataMoney
3
Happy long weekend! Will ETH continue to stall?It can be a bit demotivating to do ETH technical analysis this week. Price is dictated by BTC, ETH in limbo and both macro and micro level data is just gone stale. For those who are new to my posts, here is a quick recap of the last 4-5 days: - March 13-14th price movement indicated ETH moving into Head and Shoulders pattern. - Around March 16th ETH should have reached the low of ~$1700 to start formin the right shoulder - Volume, demand and volatility slowed down and for the last 2 days market remained stale (~1.5% price movement) - Many daily traders are taking a long weekend off as 1% profit or loss is not worth the time (compared to 8-12% profit we achieve daily on regular days*) - If H&S pattern will continue, it is very likely next week will start at around $1700-1650 point. - There are a lot of speculations regarding M1, it's effect on all global markets and if it will drive all crypto price up, however at the moment there are no clear indications of a significant rise in the next day or two. Of course, noting is set and stone in crypto markets and things can dramatically shift any second. You will need to decide for yourself if this long weekend is worth being glued to the screen 😄 Today's technicals: Position is Long Forecasted highs at $1860 & $1900 Mid-way point at $1820 Forecasted lows at $1760, $1730 Have fun taking your time off! ☀😎🍹 I am off for the next few days, see you on Monday! 🏖
Long
by DataMoney
2
How long will ETH remain in limbo? What's next?Tuesday passed uneventfully. As per my recent post "ETH is going down. Opportunity to short", we have explored current market trends and "what if" the worst-case scenario with the market dwelling into limbo. ...And the limbo is what ETH got into. Macro and Micro level data remain almost identical to yesterdays. At some point market will have to make a move, the key question remains - up or down? At the time of doing ETH technical analysis and posting market data to our Data Money early access community, ETH was at $1789 with the position of Neutral, the recommendation to Short as the market was more or less 50/50. Since then BTC dropped dragging the whole market 0.5% down. Although the price is slightly down, it seems that did not affect the market at all. Market data and price action probability remain more or less the same 50/50. Volume currently just below the recent average indicates that demand is dropping, the market is consolidating and ready for price action. What does all of that mean? Simply put - the situation is the same since Monday. The market is ready for action, just waiting for someone else to make a move. When everyone is waiting for someone else to make a move - no one moves, low volumes, low demand, low volatility and unfortunately low to none profit for daily traders. If you are interested to understand why this happens, check out my previous post below where we explored "How and why do we put ourselves into the numbers box?". Today's technicals: Position is Neutral (Many of us are shorting since $1789, but now and then market indicates more or less 50/50) Forecasted highs at $1830 & $1860 Mid-way point at $1812 Forecasted lows remain at $1730, $1700 If this is stressing you out, just set a couple of notifications in case the price move above $1830 or below $1730 and just forget it. Enjoy your day off! 😎🍹
by DataMoney
2
ETH is going down. Opportunity to shortYesterday's price action unlocked profit opportunities for Data Money followers to make ~8-12% profit. Great yields for executing 2-3 trades per day, congratulations on your wins! 🏆 The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today. Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑 Today's technicals: Position is short (if you can keep your eyes on the ball, long and short as yesterday) Forecasted highs at $1830 & $1860 Mid-way point at $1815 Forecasted lows at $1730, $1700 Have a great day trading! 💰 If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
Short
by DataMoney
1
Will ETH follow H&S formation? Get ready for price action!First of all, I would like to start with a sincere thank you to all of my followers. I have received a ton of messages from people asking what happened and why all of the sudden my posts stopped. I am well and healthy, thanks 🙏 Just had a really busy week and in situations like these, we sometimes have to make a hard call on what to prioritize. Our Data Money community continues to grow and is active regardless. I am very pleased to see that people are continuing to make a profit albeit TA's turned to be a more difficult part. Back to business Crypto markets have been very active last weekend and we have an exciting start of the week. Macro-level data suggest a formation of head and shoulders pattern, it is likely that we will see nice price action throughout the week opening opportunities for quick profitable long and short opportunities. At a micro level, at the moment price is struggling between ETH $1750 and $1730. ETH price has to break below $1730 to continue on H&S pattern. Please keep in mind that ETH $1750 is a psychological number and $1730 formed strong support next to it. It may again put ETH into a box of "too many constraints" that can send the market into another few days of limbo. Today's technicals: Position is neutral . Our recommendation is to long the dip and exit before it hits the top for H&S continuation. Data Money fans with early access already know that we have opened long positions at ~$1730 this morning 💸 Forecasted highs at ETH $1830 and unlikely $1890 Mid-way point moved down to $1820 Forecasted lows at $1730, $1700 and a must buy $1660 Have a great start of the week! 🤑 If you would like to have early access to Data Money ETH technical analysis write "I like Data Money! ETH price will go up!" or "I like Data Money! ETH Price will go down!" in the comments down bellow 😉
by DataMoney
5
Friday FOMO! How to make profit shorting ETH?And here we are again, after a restless week of persuing profits we enter a Friday FOMO. That magical day of the week where traders are extra pushy to close the week with some profit. What does that mean for you and me? Let's take a look at some market data. 🕶 📊 Monday (1st of March) the start of spring and the start of the week with its all-time-low at ETH $1410. For the major part of the week, the price was slowly recovering from last weeks "grand slam". Although this week's high remains at an uncontested $1657, the "average" price for this week remained around $1550. We have explored this phenomenon with my recent post - "How and why do we put ourselves into the numbers box?". Yesterday's post "Pattern breakout. Is ETH going down?" briefly touched on the opportunity for a breakout for ETH and it definitely did go down. So will the price go up or down? What does that mean for the rest of the week? Historically, crypto price on Fridays does go up. This is due to pushy traders trying to hype the market so they could close their positions at the end of the day with extra profit. One does not need to be a prophet to foresee that it is likely to follow the same pattern today. US open (~1:30 GMT) is likely to push the price up and once positions are closed (around 5-7pm GMT) price is likely to continue to drop 🔻🔨 Today's technicals: Position is short (Data Money fans with early access already know what to expect with the likely pattern for today and this weekend!) Forecasted highs at ETH $1540 and unlikely $1600 Mid-way point moved up to $1510, meaning that it will be easier for pushy traders to move price there. Forecasted lows at $1400, $1380 and likely to go all the way down to retest ETH $1350! Have a happy Friday of trading! 🤑 If you would like to have early access to Data Money ETH technical analysis - write " ETH is going down and I know how to profit " or " ETH is going down and I want to learn how to profit " in the comments down below. All other comments are also welcome, don`t be a stranger 😎🍸
Short
by DataMoney
11
Pattern breakout. Is ETH going down?Today's post is short and sweet - nothing much has changed since yesterday. Today's pattern, however, is promising a breakout. Macro data says up, micro data says down. It seems that a psychological number of ETH $1550 is a strong anchor and the price was quite stable around that price point ever since Monday! From my yesterday's post many of you have learned why the price is in such a limbo at the moment. Volume is slightly higher compared to Tuesday and if you will look a bit closer at the numbers - these are additional sell orders. That means that demand is not picking up. Friday may bring a bit more sense of urgency as traders will try to push to close the week with a profit. 💸 Today's technicals: Position is Neutral (Data Money fans with early access already knows that we have been shorting since ETH $1570 this morning 🤑) Forecasted high at ETH $1680 and $1700 Mid-way point at $1490 (indicating price recovery) Forecasted lows at $1490 and $1470 Have fun trading! 🏓 If you would like to have early access to Data Money ETH technical analysis, write what is your favourite Data Money ETH post and why with a link in the comments down below! 🙌
by DataMoney
How and why do we put ourselves into the numbers box?We, humans, tend to make a lot of interesting decisions. Some of them are good, some of them are bad and some of them are just what we currently see in the market right now. 👀 Generally, there is a lot of great market data out there. There are a lot of great indicators, support, resistance and so on. Then we add some more fancy properties into the market where "previous resistance" becomes a "new support". We draw wedges, triangles and seek to foresee the next market move! Now, all of that is great. We are super smart and that can never backfire - right? Welcome to the land of analysis paralysis and too many limits. A wonderful place where every move faces too much resistance. A "box" where the market can be over-sold and over-bought at the same time. A "box" where the price is struggling between current, past, and imaginary support and resistance. A "box" where the market puts itself into limbo just a day or two after celebrating getting out of the last limbo (last Sunday out and Monday back in). A "box" where a psychological number like ETH $1550 becomes support, resistance, target and major barrier at the same time. Let's just sprinkle some "good-will" actors into the mix, who are plotting for "bull-trap" and "bear-trap" and hey presto - here we are! Today's technicals: Position is short Forecasted highs at ETH $1620 and $1660 Mid-way point at $1470 (basically anything above $1470 is overpriced) Forecasted lows are loads! Not to overwhelm you I will just say - $1470 and $1400 Have fun trading! 🤑 If you like my ETH technical analysis and would like to get early access to it write "I think inside of the box" or "I think outside of the box" in the comments down below.
Short
by DataMoney
2
Are we back to the bull market? Is this a bull trap?Yesterday was a great day trading with opportunities to long and short. More importantly, it has been over 24hrs that the price is above the mid-way point without any significant dips. That indicates that the price is stabilizing and demonstrates clear bull flags. At the time of writing the price was quite stable around the previous resistance point of ETH $1550 that seems to have formed a new support line. What does that mean? Unless this is a bull trap, a situation where exchanges would be targeting to hype their users to overexpose longs and liquidate them - price should continue to rise steadily. This is definitely not the time to use high leverage. Do not fall into a bull trap 😉 The price is quite stable, however, this does open new opportunities for price spikes (both up and down). If the price will continue to rise, at some point there will inevitably be a price spike up with almost immediate retrace. Volumes are slowly declining (either consolidation or another sign of a bull trap). 🎯 Today's technicals: Forecasted highs at ETH $1640 and $1690 Mid-way point moving down to $1470 (This can also indicate a bull trap) Forecasted lows at $1500 and $1470. If the price breaks below this point easily, it will is likely to trigger another sell-off. Have fun trading! 🤑 If you would like to have early access to my ETH technical analysis write "We are back to the bull market!" or "It is a bull trap!" in the comments down below!
Long
by DataMoney
4
Is 2018 repeating itself? Will there be an alt-coin season?First of all, I would like to take a moment to thank all of my fans and followers! 🏆 It is mind-blowing that about 1 thousand people read my posts every day and Data Money has already over 400 followers! 📊 And sincerely thank you to all of my fans who write to me. It is amazing that so many of you got interested to use my analysis for building trading bots! 🤑 In my last post "Sell-off! What will it take to find the new bottom?" we explored the recent downtrend and "What will it take to find the new bottom so that the market could move on?". Sometimes it does happen that some posts are crazy accurate - it is a bit scary - maybe Data Money is a prophet? 😂 "Blitz dips" are over and the price has settled for a few days to up demand. We have hit a bottom of $1300 and so far this bottom was not contested (yet?). So, what happens next? Is the bear run (maybe just a walk) over? Is the price going to rise or fall? Where some people look for prophecies - Data Money is looking at data for insights 😉 Current ETH market data indicates that there will be strong resistance at ETH $1550, many of you with early access already know that demand picked up and we have been in a long position since $1440 this morning. If the price breaks through $1550 point, it is very likely to keep rising. This could be early signs of turning back to the bull market. If the price bounces off that resistance line, it should be coming back. That's a great opportunity to short and double your daily profit! If the price retrace to $1440 you potentially could close your shorts. Profitable longs and shorts in a single day - double the profit! 🤑 If the price keeps dragging down - we could be in for another bear treat. Regardless of the micro price actions - the price has settled over the last few days and opened doors for demand to pick up. Current macro data is what matter. It will ultimately define the course of this week. We should have our answer before EOD (6pm GTM). Today's technicals: Price is likely to rise up until ETH $1550. Many of you with early access already taken advantage of this! Position is Long Forecasted highs at $1550 Mid-way point at $1500 (anything above this point is considered overpriced) Forecasted lows at $1350, $1315, $1300 and $1270 If the price drops under $1300 with ease, we could be for further discounting. Have fun trading! 💰💰💰 If you would like to have early access to Data Money ETH technical analysis, write "Alt-coin season is coming - price will rise!" or "2018 repeating itself - price will fall!" in the comments down below.
Long
by DataMoney
2
Sell-off! What will it take to find the new bottom?First of all, I would like to thank all of my followers for your messages, questions and your support! It is unbelievable that in just under a month I gained over 380 followers! 🏆 So, it is Friday - how will we close this week? Although I have seen sooo many people unhappy about the recent price drop, I would have to say: Please don`t worry. It is a good thing. Just think about it, all cryptos have been in an unstoppable bull run since November! At some point correction was inevitable. Of course, it would have been ideal to have a sharper 3-day sell-off and get back to business right after. But markets do not work that way. There will be uncertainty days in limbo and there will be a few "dead cat bounce" days too. This, unfortunately, means that a small dip is stretched to a week. And unfortunately, a week of poor market data can trigger a further sell-off. The key questions remain: How much longer will we remain in this "sell-off" phase? What will it take to find the new bottom so that the market could move on? How much longer will we remain in this "sell-off" phase? For all the data analysis that I have done this week, there are only 2 things that stand out for me: Uncertainty and low demand. The last month of super over-hyped and over-priced market ran out of steam. Even our usual high profile hypesters are quiet at the moment. Everyone is waiting for the dust to settle. Since it is Friday, it is likely that many investors will be closing their books at a loss today and it would be absolutely reasonable to expect that this trend will continue into the weekend. What will it take to find the new bottom so that the market could move on? One interesting fact caught my eye - if you look at the last 7 days data. There were a few "blitz dips", meaning that it dipped for a few seconds and bounced right back. Almost as if testing what is the bottom to lead the market down the road. Sadly we already know the reason for that. From my previous posts, we have learned that exchanges do that to liquidate their customers and make a quick buck! But, if you take those few "under a minute" events out of the data, you would see that market has been consistently going down. Maybe what we need is a 20-30% price dip without instance bounce? Maybe just letting it settle for a day or two and pick up demand from there would get us out of this limbo? Today's technicals: Position is Neutral (probably just keep an eye for the next large dip to buy the bottom) Forecasted highs are at the mid-way point of ETH $1630. Basically, anything above $1630 will be overpriced. Forecasted lows are plenty: Current support at ETH $1400, last confirmed hard bounce of $1350, $1280 fbb, and $1180 - a must-buy! Have a great Friday! 🔆😎🍹 If you would like to have early access to my TA's write "Sell-off! I am buying" or "Sell-off! I am selling" in the comments down below
by DataMoney
1
When will ETH reach the bottom? Market uncertainty continuesA recent price drop caused a real storm. Yesterday things calmed down without massive sell-offs. Has the storm passed or are we in the eye of the storm? ⚡👀 Situations like these really give a headache to data analysts. So much data - no insights. Which data to follow? Data is all over the place, how to fairly separate trend analysis? How to adjust for irrational human behaviour? How to cluster without overfitting? Where do you draw the baseline? And many more... 😵💫 Let's take a step back. At a high level - it is obvious the price is trending downwards since 20th of Feb. Price have achieved that magic triple-dip (if such thing exists). The market is not yet ready to accept ETH under $1400 and BTC under $48k. The market has also refused to get back to the previous channel, refused another bull run and refused ETH above $1700 and BTC above $51k respectively. Volume is dropping and that indicates low demand. It feels as the market is just waiting for the next big signal (pump or dump). What's next? Will the market go up? I believe it is unlikely, it already missed a big opportunity to breakthrough into a bull run yesterday. Will the market go down? If judging only based ETH data, I would say unlikely, as the price has bounced hard a few times of $1550 which now has formed strong support. However, ETH is not leading the market. BTC is! Looking at BTC, the price is a lot less stable. There is an obvious mumble that the market has demand for BTC at $42-40k, therefore the price is a bit in limbo. Based on BTC data further drop is very likely. Will the price go sideways? Well, this is the key question! Since alts are dictated by BTC, it is reasonable it will wait for BTC to lead. Therefore the price is a bit normalized at the moment. Even though the price seems to be forming a strong sideways channel, it will be broken as soon as BTC makes a move for alts to follow. Today's technicals: Position is neutral (based on ETH data), however, I will call it as short (based on BTC data) Forecasted possible highs at unlikely $1720 (rejected to enter the previous channel) Mid-way point moved down to $1700 (basically anything above that price is overpriced) Forecasted low (except any unforeseeable dumps) are at $1550 (strong support) and $1400 Have fun trading! 🤑 If you would like to have early access to my TA's write "ETH reached the bottom" or "ETH will continue to drop" in the comments down below.
Short
by DataMoney
7
Is the sell-off over? Can there be a further 30% drop?Today's TA will be similar to yesterday's. The pattern appears to be changing again. It is possible that this was just a 3-day retrace, it is also possible that the price is just temporary bouncing back before it crashes further. If history thought us anything - cryptos price can plummet without any warning. The current situation looks awfully alike Jan 2018, when all cryptos crashed from All-Time-High and never recovered (~ 3 years). We all know that past performance does not guarantee future results. So what does the future hold? What can we expect? The good news is that just like ATH, drops come in waves. We just past 1st wave. It could be just a price retrace, it could repeat itself 2-3 days from now (maybe this weekend?). Follow the market, read the data and you just might come victorious. Don`t do that and you will almost certainly lose. We all know that market always wins and on average 95% of traders are not profitable. At the time of writing ETH price is entering its previous channel price may bounce upwards from there of bounce bach to downwards trend. I believe the current time between 9am GMT (UK open) and 1:30 GMT (US open) will be the crucial moment that will dictate the price flow for the next 2 days. Scenario 1: If the price bounce upwards and forms support at 1700, then the price will be going upwards with traders trying too hard to close a profitable week. Scenario 2: If the price bounces back under and forms a strong resistance at 1700, we should expect further drops into the weekend. Today's technicals: Forecasted highs are above 1800, unlikely to get there in scenario 2. Mid-way point indicated at 1750, basically, anything above 1750 will be overpriced and if sustained for at least 2 days, will indicate that we are back to bull run. Forecasted lows are at 1550 (previous bounce), 1420 fbb, 1350 the lowest strong support and 1230 the bottom of fbb (a must-buy). None of these would be likely in scenario 1. Have fun trading 🤑 May the odd's be with you! 🏹🎯 If you enjoy my TA's and would like to have early access write "The sell-off is over, I am buying" or "The sell-off is not over, I am selling" in the comments down below.
Long
by DataMoney
2
Is it a correction? Retrace? Bear run? Markets are selling!This is just a quick post to overview the market macro data. Yesterday there was a systematic market shock as over-hyped, over-price bull run ran out of steam. People were panicking and speculating right and left. Price was dropping, exchange apps were crashing and ETH even dropped to $700 on Kraken. Not sure if anyone managed to buy at that price level as all exchanges at that moment have crashed. But nevertheless, it is an impressive 24hr drop for ETH from $1970 to $700! Today, at 9am GMT, yet another "crash" where ETH dropped from $1600 to $1360 just in an hour! Is this a correction? Retrace or are we now in the bear market? There can be lots of debate on how you slide and dice data. At a macro level, BTC "the one that rules them all" usually moves ahead of the market. Altcoins usually are forced to follow. BTC has risen about 200% since December 2020. ETH with a little lag has risen about 220% during the same period. Looking at the raw data one could easily be mistaken that ETH overperformed BTC, however, I would doubt that's the case. Since there is a price lag, market is dictated by BTC and altcoins are much more price-sensitive than BTC I find ETH/USD overlay over BTC/USD to be a good indicator of what is going on in the market. The way I see it is that since 14th of Jan market has been overpriced and the correction was due. Market was overhyped and the higher it rises, the harder it falls. The last two days confirm the change in pattern. A key question remains - what's next? I have seen all sorts of wild speculations yesterday. The reality is that no one knows. Market is in shock, the pattern has changed, a new baseline needs to form to evaluate what is overpriced and what is underpriced. It is very likely that with today's US open, the price will drop further. Today's "technicals": The position is - do not freak out . Market will be testing for the bottom and it may drop significantly lower. Forecasted highs are at FOMO. Of course, it is great if you can be glued to the screen, buy the dip at ETH $1355 and sell at $1510 15 mins later. But most won't. There is no mid-way point today to judge what is a good price. Forecasted lows are at FOMO too! I do not believe that ETH will drop below yesterdays ETH $700 for a sustainable period of time. However, there is a massive gap between the current price of ETH $1500 and $700! Enjoy the FOMO! 🤑🍿 If you would like to have early access to my TA's, make your best guess if it is a Retrace, Correction or are we in a long run Bear Market now!
Short
by DataMoney
10
Why markets force-sell? How BTC squeeze push the price down?This weekend has been very interesting. BTC is dominating the market price and all other cryptos are forced to follow. However, the demand has dried up and while BTC was still moving up, most altcoins started to slightly move down. Late Friday / early Saturday hype did not save BTC, after a number of high profile people trying hard to hype the market for yet another bull run week overleverage Longs got liquidated. So what happened? Have you ever heard saying: "Market always wins"? In general, most exchanges always win regardless of the price. Whether it is going up or down, regardless of who wins or losses most exchanges will be charging their fees. However, a little less known fact may surprise you - most exchanges time to time try to force the price up/down to liquidate overleveraged positions. That's right. There are more and more people talking about exchanged purposefully working to earn easy money by liquidating their customer's! This is what happened last Saturday, the 20th of Feb, 10pm GMT. In less than a minute, BTC price dropped to $54k, ETH price dropped to $1800 and bounced right back. According to numerous sources during that 1 minute about $1.8 billion of overleveraged Longs were liquidated. Of course, the price bounced right back after this "force-drop" and markets continued on their regular trajectory afterwards. Now, we all know this sounds fishy. It does beg a question: what can an average Joe do about it? We all know that trading is a risky business. You may win, you may lose, however, would you still be tempted to trade if you knew that these markets are always seeking ways to take advantage of you and liquidate your funds? Drop your thoughts in the comments below. I am not a financial advisor nor a professional trader. My joy and fascination lay with data and technical analysis. However, these market nuances really caught my attention. No one likes to lose or be in a position where others take advantage of you. Everyone with early access to my TA's know that so far we are all making a quite stable risk-averse profit. But the question still remains - what can an average person do not to lose against the market? What can be done to level the playing field? Share your thoughts in the comments below. Extra karma points for anyone who can share good insights, research articles or other resources on this topic. Today's technicals: Position is short (people with early access already know that we have been shorting since ETH $1860, and already closed today's target! 🥳) (No magic, we just got lucky 😇) Forecasted highs at 1980 and unlikely 2040 Mid-way point at 1920 Forecasted lows at 1820 and 1780 Have fun trading! 🤑 If you would like to have early access to my TA's, write "I am interested to learn why markets force-sell" or "I am not interested to learn why markets force-sell" in the comments down below 😉
BITSTAMP:ETHUSDShort
by DataMoney
20
Drawbacks of hyper bull run. When is it a good time to buy back?We had another record week. Cryptos are in All-Time-High and EHT just broke a new record of $2k! There are so many topics and market data I would love to discuss here. However, this time I took a different approach. It is a very different post and even today's chart looks different. Price is going up, everyone is getting rich, the unicorns and rainbows for everyone and forever, right? 🌈🦄💸 Or is it? What are the drawbacks of this hyper bull run? What can you do about it? Disclaimer: I do TA's because I enjoy analytics. I am not a financial advisor. If you are reading this post, you should know better to always use your better judgement regarding any investments. Drawbacks of the hyper bull run If you take a careful look at my chart, a few things should stand out. It is a 15 min chart. Without candlesticks. No indicators. Max zoomed out. Naturally, anyone would pose a question - why? For me personally, 15 min chart works best for micro trends and 4-24hr charts help me to do macro/general trends. With that in mind, I am trying to demonstrate a contrast between these trends. White lines on the chart form a channel. Usual price action would move between the top and bottom lines. The wider and the more consistent channel - the better. That offers opportunities to enter and exit the trades. Except for a little anomaly since the 3rd of Feb when another bull flag started to form and just forgot to stop. 😅 Inexperienced traders will feel anxious. This market movement force people to sell high and buy back higher. Almost no opportunities to short and that adds to peoples anxiety. Anxiety causes Fear Of Missing Out (FOMO). And fomo cause the price to rise even more. Lose-Lose. Hyper bull run is the ultimate bear trap. What goes up, must go down, right? Except it just keeps going up! Take a look at the red and green arrows at the bottom of the chart. They are indicators of when market is overbought and oversold. In a healthy market, these should come at more or less balanced intervals. At a macro level, in the bull market you will have slightly more red (overbought) indicators and in the bear market slightly more green (oversold). This Feb (last 20 days) there has been a 1:5.5 ratio! And none of the green indicators at the bottom of the channel! Bears are being crushed with Channel Sell to Buy ratio score at 13:0. Hyper bull run is the ultimate bull trap. Unless you are a market-maker whale, trading insider information, a genius or Elon Musk. In this market situation, the most "profitable" tactic is not to trade. That's right. Selling high and buying back higher will make you less money than just holding. So you hold. Life is great. Every day your coins are worth more and more. You don`t even trade any more. A month later market crash and your opportunity to sell high is gone! Is there anything you can do about it? Now I do understand that many people will come to this post with BTC excitement and a "get rich quick" attitude. My apologise if this post is not what you expected . I get about 20-50 messages every day asking about when to sell and when to buy. Most of the time my micro forecasts are accurate, however, it is clear that the pattern is changing. So no one knows what will happen 5 days from now! If you just got very excited about crypto boom and just starting now. You want to invest $5K and that's all of your savings. You are hoping to triple the money by March. Take a deep breath. Invest time to learn a bit about trading and pick the platform that works best for you. Invest $100 to take a trading course. Start small. There is no point to buy at the top. By the time you learn more about trading, market will be 20% down and you can thank me later 😉🍸 If you are a fairly new trader, you were making some profit and loss. You thought that you sold just before the downtrend at ETH $1800 and now you are getting all stressed that ETH went up instead of down. Take some time off cryptos. If you find yourself more and more stressed every day - do not trade. Come back with a fresh head and draft a new winning strategy for yourself. If you accidentally bought some ETH back in the day and now getting all stressed that it will crash. The price will fall, that is normal. Think about what are you comfortable to hold in case it crashes? What profit do you need to lock? I am not a financial advisor. Think of what are your options. Maybe it is wise to take profit of your initial investment amount and 20% for buying the dip when the dip comes. It is never a bad idea to hold some in the bull market. 🤑 Today's technicals: Position is short Forecasted highs at 2030 and 2080 Mid-way point is now at mind-blowing 1860! No forecasted lows for today. It is unlikely it will dip under 1900 and it really should. Maybe it will just keep going up forever 😂 Have fun trading! 🤑 If you would like to have early access invite to my TA's write: "I am buying this weekend" or "I am not buying this weekend" in the comments below 🙈💸
BITSTAMP:ETHUSDShort
by DataMoney
12
When will ETH hit 2k? What does that man to you and me?ETH (and most cryptos for that matter) have been making history in the last couple of months. Never before it had 4 months of straight sky-rocketing bull run, almost without a fault. That is very unusual for cryptos market and is causing FOMO and anxiety for many people. I can't even count how many times in the last 2 months I have seen people celebrating that they have sold everything they have at "the top" just to realize two days later that market went 10-15% up! How long will this spectacular bull run last? ETH has been massively overpriced for at least a month now. According to data, it is long overdue a massive correction or at least a few weeks of sharp decline. Markets can stay irrational longer than one can remain solvent. Unless you are a massive whale or someone like Michael Burry - you can`t fight it, the market will always win. Follow my posts, go with the flow and hopefully, everyone will be making some profit 💸 When will ETH hit 2k? It is very likely that BTC will keep going up today. If that's the case, regardless of what's happening in other markets everything will keep going up. The same for ETH, people are buying, volumes are not that bad. ETH is likely to hit 2k today! 🚀 Today's technicals : Position is long Forecasted highs at 1950 and 2k (if ETH quickly breaks the top of the channel and manages to form support above it, just wait and see that rocket taking off!) Mid-way point at ~1815 Forecasted lows unlikely to drop to 1850 and 1800 Have fun trading! 🤑 If you would like to have early access to my TA's write "Markets are irrational, but I want to know" in the comments down below 😁
BITSTAMP:ETHUSDLong
by DataMoney
2
BTC bull run continues. What does that mean to ETH?I am back! Huge thanks to everyone messaging me and supporting my posts. That means a lot. For those who are new to my posts - I post ETH technical analysis and provide my market perspective for context. It all started as fun conversations among friends and they started to make good money on top of it. They encouraged me to make posts about it and here we are. Within a month I was upvoted to top author and one of my posts was selected as Editor's Pic. That is all thanks to you - my dear readers. Back to business A lot of people are messaging me with questions: Is this the top? When will it be a good time to buyback? Let's look at the data. BTC is running the game here. Some well-respected analysts forecasted that BTC will never reach 40k - it did. Some forecasted it will be over 100k before 2021 - it didn`t. Even some institutional investors present analysts reports with wild numbers like "bitcoin price is between $0 and 600K". What does all of that mean? Although I am a data person - all of these TA's and analytics just spell the obvious - no one knows. It is all speculation. Why BTC is so high? Simple - the hype is real . A large portion of the world is in COVID-19 lockdown. Socks, commodities and cryptos are going up even when businesses are shut or even on the verge of bankruptcy. So if the value of zombie companies with little to no profit is going up - everything is going up as long as people are willing to pour money into it. In my personal opinion key words here are demand and liquidity . It is easier than ever before to get into the crypto trading and this market never sleep. Here is your recipe: a lot of hype + strong news coverage + billions of people just sitting at home having nothing to do - BTC to the moon! 🚀 Does that mean ETH gets a ticket to the moon too? In short yes. There is so much data I could talk about here, but TA's here again render useless. Reality is that BTC is pushing everything up. Market is over-hyped. Market is super-liquid. It can theoretically keep going up for a while now. It also means that there is nothing that would prevent it from dropping significantly tomorrow. Just remember December 17, 2017. BTC hit a mind-blowing $19k ATH! Everyone was overhyped and forecasting BTC to keep going up to 100k and in 5 days it lost 50% of its value. Demand and liquidity . Today's technicals: My dear followers with early access know that the morning position was long. We were expecting a spike to ~1920 and it skiped to 1928, from that point it changed. Position is short. Forecasted hights at 1920 and 1950 Mid-way point at 1800 Forecasted lows at 1800 and unlikely to hit 1740 Have fun trading! 🤑 If you would like to have early access to my TA's write "I would like to have an early access invite in the comments below"
BITSTAMP:ETHUSDShort
by DataMoney
17
Elon-mania - How long can cryptos be hyped?What an extraordinary time we live in! In less than 2 months Elon Must managed to change the crypto world. With the power of a tweet, he managed to double his crypto assets value. And he is not getting a sizable fine! If any of my dear readers remember, last time he performed a similar stunt tweeting about taking Tesla private, he received a $20m fine for market manipulation. So, anyone curious why Elon is changing the world for the better with cryptos? What's in it for him? Here is an interesting thought experiment proposed from a couple of my followers from California, USA. Follow the money. We sat down in a social distant manner in web meeting and ran some numbers. Tesla purchased $1.5b worth of BTC in January. There was not a single purchase order of that size. Actually, nowhere near it. Therefore it must have been a slow constant acquisition not to spike volumes or get whales suspicious. We traced steady volumes Dec-Jan and it is very likely that Tesla was slowly purchasing BTC around 24-26k mark. That would have bought Tesla about 60k BTC. We highly doubt that Elon would even mention BTC while Tesla was purchasing not to spike the price. That means that purchase was complete by the time Elon added his famous #Bitcoin. Check the dates and run the numbers 😉 So what's in it for Elon? 60k BTC as of this morning was worth in a ballpark of $2.9b, basically doubling the asset value for Tesla (Elon). Well played, just surprised he is not getting $1.5b fine for this 😂 How about ETH? It is difficult to say today's market's reaction, however, all assets are widely overpriced. That should spell a retrace. Today's technicals: Position is short. Forecasted highs are at 1900 unclear of any limits. There seems to be a resistance forming at 1815. Mid-way point now moving to 1680. Forecasted lows at 1630 and unlikely to drop below 1600. Don't forget that technical data renders useless against people irrational behaviour. Stay vigilant and change to Long in case market shifts direction. Have fun trading! 🤑
Editors' picks
BITSTAMP:ETHUSDShort
by DataMoney
60
ETH Futures - Will the price go up or down?This Monday morning is soo exciting! ETH has thrown quite a few jabs last Sunday driving volatility and kicking traders out of their beds 😄 Looking at the market data one could find ways to explain the dip and bounce back would be perfectly reasonable. Except for ETH futures announcement. Here it gets more complicated. You would think that positive publicity would rise ETH price, however, historically cryptos did really poorly before and right after futures released. Therefore we have an overbought overpriced market, that should dip. Lots of publicity that should drive the price up and ETH CME futures that should drive the price down. So, which is it? Up or down? In situations like these technical data has been proven again and again useless. A major driver will be people irrational behaviour and, don`t forget, whales will never miss an opportunity to double their millions! Here are today's technicals: Position should be short (I doubt it will be). Forecasted highs at 1700, mid-way point at 1645, support forming at 1580 and forecasted lows at 1540... Regardless of the technicals - it is really unlikely that price will drop under 1600 and there is A MASSIVE gap between 1600 and 1540! Irrationality + confusing data - I call it a price rise! 🤑 Let's see if we can make today's targets and a nice little profit for everyone reading this 💰
BITSTAMP:ETHUSDLong
by DataMoney
4
ETH - Up or Down? Will BTC dictate all crypto prices?Yesterday we had jet another unusual turn - ETH did not drop. For the last few days ETH has been rising faster than BTC, however, last night ETH slowed down and BTC picked up again tipping the scales. Forecasted ETH/BTC rise stopped at 0.046 (short of 0.05) and now dropping. This suggests that all crypto markets will rise at least until BTC reach 40-41k (possibly going for new ATH). Stay alert for today, as steep rises and drops are not out of questions. The market is testing for the peak and as soon as whales sense that it is a peak everyone should be for a watch of a steep drop. At what price this new peak will be uncovered - no one knows! Today's technicals: Forecasted highs are at 1770 and 1800. Forecasted lows are at 1650 and mid-way point fast-rising to 1580. Have fun trading!
BITSTAMP:ETHUSDLong
by DataMoney
1