ETHEREUM forming a Double Top??? Hold onto your BUTTS The main thing I see that makes me skeptical is the fact that the volume on the most recent run up to the high $300s was significantly lower than the 1st run, and the Volume MA for that entire period. It seems like all the new money has become complacent and isn't really buying in and the sellers are eager to take some profit. It could be all a ploy to lower the price and accumulate more ETH in advance of the anticipated fork later this month. I'm not sure but if the price falls below $195 we could be in for a MAJOR pullback. I'm also watching the MAs and EMAs on the price action, they also look like they're itching to confirm a change in trend. Let me know what you all think :-)
Ehtereum
ETHBTC oversold, time to rise again~If we pay attention to recent history of ETHBTC we can see that it respect very well the oscilators when its oversold. Now we have a light divergency on stoch rsi. I know it is not much or means nothing for most of you guys. But I encorage you to watch closely how ETHBTC behave when oversold and the oscilators tend to signal a near long status.
ETHBTC
Right now we have a nice pivot and fibo right were we spect a floor, and if you search for that price in the "Lv 2" of your trading provider, you will surely notice a huge limit buy right between those levels. Those are the profits for a lot of bears.
The area between the rectangles, are the areas where we can spect the confirmation and the red one where the "Good Bye - Kiss" should be.
I dont suggest to "BUY RIGHT NOW" I will wait till confirmation, maybe 2 bull candels, let the price take it time to give the bears their reward for holding short. Once they got what they want. Will be time for the horns! Let ETH rise~
Ethereum ENTRY points at MAsThe MAs (moving averages) give us a nice signal for entry.
When price moves up, it almost always stops and takes a break to digest. That is called consolidation.
Buyers are taking profits and sellers are coming in, but not enough to make the price shoot up.
The price hovers around the same price until the moving averages catch up.
Moving averages, by nature, are lagging. They are an average of the closing prices. I use 9 and 20 exponential moving averages for my trading.
But when the moving averages catch up to the actual price, then there is a test. If the price stays above the moving average, then we usually see a bullish breakout.
I usually add a little when price is TESTING the moving average, and then I add some more when price breaks out of the range.
The moving averages even seem to PUSH the price up. That is only an optical illusion, but you can see it as price finally reaching equilibrium, at which point a decision must be made. Either more sellers push the price down (breakdown) or more buyers push the price up (breakout).
------
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Ethereum break above the 55 MA and off to the races?Lot of consolidation lately as people use their funds to buy other alts. The bull parade could be slowing down and time to take profit and return those funds to the staples, LTC, ETH, BTC.
Ethereum is showing signs of building up pressure to move back up. If it breaks above the 200 MA on the 5 minute chart and the 55 MA on the 15 minute chart, then we could see a continuation of Ethereum's hundred dollar destiny.