ETHBTC - Bullish Idea (5-Day TF)ETHBTC Symmetrical Triangle that broke higher could be forming a continuation pattern (pennant/flag/wedge/ascending triangle).
The break out of the triangle got rejected at the 0.5 fib level, pulled over the 2017 bull market.
Since we broke out of the symmetrical triangle at the 0.236 level we can also expect a pullback and retest of that level before continuing higher.
Bitcoin Dominance chart also seems to be in a bear flag, which could be the inverse of the ETH/BTC bull flag.
The 0.786 and 0.236 fib levels have acted as rejection points during the bear market, interesting to note.
ETH-BTC
Happy (Independence weekend) - Early Logging off for the weekend! I wanted to say, have a great weekend!
One question for you - where do you think BTC will be at the close of Sunday (4th of July)???
Up or down? Sideways? What you got?
See our signature for more info & related ideas linked below;
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Ethereum Is Decoupling Bitcoin SignificantlyThe intraday spread between Ethereum and Bitcoin is widening at a faster pace than expected. Seems like the third wave is being extended, which is a very bullish sign. I would expect Ethereum to claw back more market cap dominance over the next couple weeks.
hypnotic Bitcoin - stair at image! Look at the image here with no text alongside it.
Only a bit of fun - but BTC can be hypnotic for many! See the 3D boxes when you stair and look through the screen for 10 seconds or more!
Just amazing to play around with @TradingView and I thought I would share with our community!
Hope your all having a great week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Ethereum/Bitcoin Spread Should Expand MoreFor those unfamiliar with this indicator, the ETH/BTC intraday spread is a great risk on / risk off barometer for the crypto markets. I was both right and wrong in my previous analysis. I was right that the last downward wave was shaped as an ending diagonal. However I was wrong, when I thought it would go lower when it was actually completed. I relabeled the count to match what we are seeing right now with the movement of both cryptocurrencies. As I am writing these lines, ETH is consolidating the large gains made over the previous days. In theory, there should be another upward movement so we get 5 waves up from the lows of this week-end. As a trader, this means you should focus on trading ETH because it has potential for more gains.
ETH Daily chart. GO LONGHey everyone!
the market has looked to have bottomed out. It also looks like we are in the last phase of the wyckoff pattern. On smaller time frames we have bullish divergence also. The last thing to look at was the falling wedge which now we are looking to break out of. The blacklines represent the trend and the neckline that we broke and now will become support.
Trade Idea
Enter 2000 - 2050
SL: 1700
TP: 3000
happy trading
TrendTracers Weekly Market Analysis #8TrendTracers Weekly Analysis
Review last week analysis
Price followed our last week prediction exactly, moving in the indicated range on the BTCUSDT chart. Liquidity was grabbed around 29-28k as anticipated.
BTC
Regarding BTCUSDT a close above 34k would indicate a bullish move up to 46k according to our system. We will wait for our system to generate a buy signal and take it up to that level.
Price on BTC.D is still within our depicted range. We are waiting for the price to confirm a higher low. Multiple closes of daily candles above 50% would be a good confirmation. This would mean that bitcoin will probably be the biggest player in the coming price action on the crypto market.
ETH
Not much has changed on ETHUSDT since last analysis, we are still waiting on that buy signal. If BTC has formed a bottom at this point, the price on ETHUSDT will probably go up aswell. But waiting for a signal is the best course of action at this point.
The consolidation pattern on ETHBTC did not play out and the price is still downtreding.
The chart is looking quite weak so the best play here is stay out for now.
DXY and USDT.D
Nothing has changed on the DXY chart, markets are still bearish outlook for the general markets.
USDT.D is moving as expected however it needs to form a top here as depicted in the chart. If USDT.D continues to gain dominance above the latest high, an extended bearish period is ahead.
Conclusion
Everything is going to plan, we are patiently waiting for that buy signal. We don’t want BTCUSDT to close below 30k anymore. Time will tell, best thing here is just to wait for confirmation from your system and act on it. We expect a signal to fire this week, so keep an eye out on our indicators.
ETH/BTC - ETH outperformance expectedTactical horizon (1 to 3 Month)
A larger ETH outperformance move is expected towards 0,085 before 0,134
Key daily technical element :
- Moving average are support at 0,40
- Elliot wave analysis confirmed an active follower momentum in progress with target at 0,0850 min
- RSI is above 50% with potential and no divergence
Conclusion
Buy any dip above 0,40 in order to play further upside move towards 0,0850 before 0,1340
Or lower the BTC exposition in the hearth of the portfolio and rise the exposure on ETH.
How to be careful from misleading Indicators | XRPUSD reversalAny feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
Quick glance: In our previous analysis on XRPUSD , we discussed about Ripple losing a massive market cap. Right now, XRPUSD had a massive reversal. It has taken support from the lower Bollinger bands.
Market in the last 24hrs
The last 24 hours were quite a roller coaster. All major cryptos witnessed a huge selloff including ETH, BTC, DOT and others. Trading volumes also spiked up tremendously.
Today’s Trend analysis
XRPUSD seems to be having a massive reversal. At the end of the downtrend on the 4H chart, there appeared to be a 'Hammer' formation. However, the patter could not be confirmed as the 2 following candles were red, thereby negating the reversal after the 'Hammer'. Stop losses would have been triggered for traders taking long positions after the hammer. Therefore, it is always crucial to wait for the confirmation candle, even if it eats into some of the potential gains. It hedges against fake-outs!
The reversal happened after XRP took support from the lower band of the Bollinger Bands. The volume profile shows the demand zone at $0.8688, which is 40% higher than current levels.
Price volatility remained extremely high at approximately 24.53%, with the day's range between $0.5231 — $.6514.
Price at the time of publishing: $0.6315
XRP's market cap: $29.04 Billion
Out of 11 Oscillator indicators, 9 are neutral,1 is bearish, and 1 is bullish.
Out of 15 Moving average indicators, 11 are bearish , 3 are bullish and 1 is neutral .
Indicator summary is bearish for XRPUSD in the shorter timeframe.
Volumes have spiked up tremendously in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
ETH USD BEAR SZNleft side of the chart is the 2017-18 bull run and reversion. on the right is present day. we have a long way down and there is no support until ~$1400 USD. Market looks like shit, DeFi TLV and volume is rapidly disappearing (RIP Mark cuban). Secure your profits and wait for a lower buy.
god bless!
TrendTracers Weekly Market Analysis #7TrendTracers weekly analysis
Review last week conclusion
Last week’s conclusion still holds up. Bitcoin is more bearish and we profited off some shorts.
BTC
BTCUSDT is testing the HMA after a buy signal indicating a possible long but price is still in chop. Price is ranging and we broke slightly above resistance finding liquidity and dropping back down into the range.
We will be more bullish when price breaks the 36500 level, where the EMA is. Beware taking longs here since price is still below the weekly baseline and within a range.
BTC.D is still accumulating from the lows and hasn’t done much since last week. The chart is moving sideways but it’s definitely not altseason. So our advice is to stay out of altcoin longs.
ETH
Our bearish case from last weeks is playing out on ETHUSDT. Price broke down from the ascending triangle and we expect a drop into support between 1750 and 1400.
Alternatively price can form a higher low here but to confirm it a bounce above 2300 is needed. If that is the case and our system prints a buy signal, we go long.
ETHBTC is still within our triangle but it needs to reject the lower trendline soon. If this pattern plays out it will suggest a breakout to the upside, meaning a larger movement of Ethereum than Bitcoin.
DXY, USDT
We called a bottom on the DXY last month and it looks like we were right. DXY shot up 2.3 percent since then. A test to 93 is expected, if this level breaks there might be a global sell off across the markets. Let’s hope that the DXY will reject the 93 level.
USDT.D is creeping up towards resistance. We are waiting on a rejection at 5.00 percent. Or we are forming a range here meaning some more upside for BTC on the downtrends.
If USDT.D breaks resistance at 5.00 percent and stays above it for a couple of days then the crypto market will be very bearish.
Conclusion
The market is going sideways. On BTC we want to see 37k break or we want to see a liquidity grab around 28k and a quick wick up. Until then, sitting on your hands is still the thing to do. It has kept us safe during this chop. These are periods in the market where a lot of traders are losing. It’s best to wait for price to start trending again and when the trend is confirmed, act on it.
ETH - Purple War Zone!Ethereum broke below 2500 ... WHAT NEXT?
ETH is approaching our long-term red trendline acting as non-horizontal support.
Moreover, the area 1950-2000 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in green and lower red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break , and so on...)
Unless ETH breaks below the 2000 zone downward with a big daily candle, then the support would become resistance again.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
HIVE listed on nasdaq - more liquidity = price go upHIVE Blockchain Technologies (OTCQX:HVBTF) obtained approval from the Nasdaq Stock Market LLC to list its common shares on Nasdaq's Capital Markets Exchange.
The Company will retain its listing on the TSX Venture Exchange.
Shares +37.5% YTD.
I was buying this thing below a buck so I am happy but we are just getting started.
Gold BanditsA long time ago, Gold - physical gold for that matter was in high demand. In recent years bitcoin has been talked about as the gold replacement, what do you think?
Is there still value in gold?
Think back when people would rush to the mountains, in search of gold! Usually the guys getting rich, where the ones selling the shovels. Similar in crypto today, exchanges, brokers and "information sites" are the new shovels!
If we look at how respectful Gold can be, it's an awful lot easier to trade than most crypto currently.
We can see from the last post, the fake out and mark down. If you look back at the previous calls - pretty much the same, out and out respect. We are currently looking at a DXY pullback (up) which will lower the gold price before a nice rally for Gold sets in.
It would be good to get your opinions on Gold - BTC kill it off as we know it or will gold prevail?
Have a good week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Interesting Trend for ETHETH broke the red descending line few days ago. After increasing a little bit it couldn't pass the level 2625. From now on, the gray ascending line will be a support, it should be followed.
There is a interesting trend which we should pay attention. The orange sine wave shows the harmonic pattern of eth from the day 21th May. Eth follow this oscilattory pattern. So upcoming days , we may face with little drops.