Get started

ETHBTCSHORT

Ethereum - Teetering on shaky ground!Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk. Who loves Ethereum? Whether you love it or you hate it you have to pay attention to it. Typically Ethereum shows signs prior to a major market move. It's sort of like the precursor to big Bitcoin moves. I like to watch some of the bit btc trading pairs (XLM, ADA, ETH, XRP, etc ) and usually more often than not, they'll make a decent move minutes before BTC does. Anyhow, let's get down to the meat and potatoes of this: 1. No bullish divergence here at all. 2. Trading right BELOW the median of this pitchfork for weeks and not really sitting on any significant recent support - this is fishy. There was support in this area back in October of 2018, though. 3. On the main impulse which took ETH up 100% against the USD trading pair, we've obviously fallen from there and have retraced well beyond the 61.8% retracement to have that count for any kind of support. It's not anymore. 4. We can find support at the 78.6 which seems the most plausible support level we should be focusing on. It's right where there was prior resistance (the red box) so I would expect that to be the next true support level. Evaluate the price action there. I expect selling pressure after the Constantinople event . Do yourself a favor, though. Don't trade news events unless you get in early, then make sure you secure profits because trading news is risky and typically you end up losing unless you take profits on the way up. Trade safely friends! <3 -CE-
Short
by bitdoctor
ETHEREUM - END OF ANOTHER MARKET CYCLE? WHAT TO EXPECT NOW?The market cycle which started in the late March- early April with accumulation, is now approaching it's end with the final markdown phase. Possible reversal may occur here. A new cycle can start here with a new accumulation phase with a plenty of upside potential. On the downside, if it continues to fall then i see a support somewhere around 0.0498. If it pierces southward to this, the last zone of defense lies in the range 0.0436-0.400. Beyond that, it's a free fall territory. For those who have no idea about market cycle, read on. The Four Phases of a Market Cycle 1. Accumulation Phase This phase occurs after the market has bottomed and the innovators (corporate insiders and a few value investors) and early adopters (smart money managers and experienced traders) begin to buy, figuring the worst is over. At this phase, valuations are very attractive, and general market sentiment is still bearish. In the accumulation phase, prices have flattened and for every seller throwing in the towel, someone is there to pick it up at a healthy discount. 2. Mark-Up Phase At this stage, the market has been stable for a while and is beginning to move higher. The early majority are getting on the bandwagon. This group includes technicians who, seeing the market is putting in higher lows and higher highs, recognize market direction and sentiment have changed. Media stories begin to discuss the possibility that the worst is over, but unemployment continues to rise, as do reports of layoffs in many sectors. As this phase matures, more investors jump on the bandwagon as fear of being in the market is supplanted by greed and the fear of being left out. As this phase begins to come to an end, the late majority jump in and market volumes begin to increase substantially. At this point, the greater fool theory prevails. Valuations climb well beyond historic norms, and logic and reason take a back seat to greed. While the late majority are getting in, the smart money and insiders are unloading. But as prices begin to level off, or as the rise slows down, those laggards who have been sitting on the sidelines see this as a buying opportunity and jump in en masse. Prices make one last parabolic move, known in technical analysis as a selling climax, when the largest gains in the shortest periods often occur. 3. Distribution Phase In the third phase of the market cycle, sellers begin to dominate. This part of the cycle is identified by a period in which the bullish sentiment of the previous phase turns into a mixed sentiment. Prices can often stay locked in a trading range that can last a few weeks or even months. When this phase is over, the market reverses direction. 4. Mark-Down Phase The fourth and final phase in the cycle is the most painful for those who still hold positions. Many hang on because their investment has fallen below what they paid for it, behaving like the pirate who falls overboard clutching a bar of gold, refusing to let go in the vain hope of being rescued. It is only when the market has plunged 50% or more that the laggards, many of whom bought during the distribution or early markdown phase, give up or capitulate. Unfortunately, this is a buy signal for early innovators and a sign that a bottom is imminent. But alas, it is new investors who will buy the depreciated investment during the next accumulation phase and enjoy the next mark-up. Timing A cycle can last anywhere from a few weeks to a number of years, depending on the market in question and the time horizon at which you are looking. A day trader using five-minute bars may see four or more complete cycles per day while, for a real estate investor, a cycle may last 18-20 years. P.S: This is not an investment advice. This is my personal journal. Invest your capital at your own risk. Keep an eye out. Trade safely. Always remember, money not lost is also a profit. Good luck trading.! Peace.
by johntradingwick
Descending Triangle + Inverted A & E could = Doom for ETH:BTCI believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to get my complete trading strategy and click here to learn more about how I use the indicators below! Previous analysis/position: Have been thinking/tweeting about shorting it Patterns: Descending triangle on weekly with target of 0.002. Can kind of see an inverted h&s on daily but do not give it credence Horizontal support and resistance: R = 0.058 | S = 0.05 12 & 26 EMA’s (calculate % difference): 12 is currently acting as resistance | 26 = -5% 50 & 128 MA’s: 50 = -12.3% | 128 = -19.71% | Recent death cross FIB’s: Not very helpful, but could see 0.382 at 0.06 Candlestick analysis: Hanging men from two and three days ago should provide fractal/stop loss Ichimoku Cloud: Fully bearish with Tekan-Sen acting as resistance | Weekly cloud is at 0.019 TD’ Sequential: 9 on the buy setup and 13 on the buy countdown on the 3d. R-9 on the weekly with a R-2 > R-1 | Not very helpful on daily Visible Range: Point of control over last 24h = 0.0574 | POC over last 5 days = 0.0578 | POC over last month = 0.05688 | POC over last year = 0.0715 Bollinger Bands: MA acting as resistance on daily. Near bottom band on weekly. Trendline: On weekly connect 1/29 to 5/14. Daily Trend: Chop (up on the day) Fractals: UP = 0.0587 | DOWN = 0.054 On Balance Volume: Very flat in 2018. Putting OBV on top we can see that volatility is on the horizon. This is confirmed with the normal volume indicator, has been extremely low since spike in Dec of 2017. Expecting another spike in volume soon. ADX: Daily ADX = 52 which indicates the need to range while it returns to 20 | Weekly ADX created a higher low and had a recent bearish cross. Indicates plenty of room to trend (unlike daily) Chaikin Money Flow: On weekly it is > 0.2 and climbing fast | Bouncing sharply from -0.03 on daily. RSI (30 setting): Bouncing off 30 on daily. Recently fell below 50 on weekly. Stoch: Oversold on weekly, angling for a bullish cross. Recent buy signal on 3d (has been a very good signal in this bear market). If it resists 20 then it could be ready to dump hard. Approaching overbought zones on the daily. Summary: Originally I wanted to short right now due to risk:reward provided by most recent up fractals. However I am going to hang tight due to: Stochastic on the 3d Daily, 3d and Weekly TD' Sequential Stop order is set at 0.0524 to open a short as soon as the triangle breaks down. Watching for 1-4 candle correction on the daily to provide a very favorable entry. If we retest the top of the triangle then I will be opening the full position.
Short
by Sawcruhteez
ETH (and Really Most Big Coins) are About to MoonStep back for a second. Look at the bigger picture. We are sitting on a key support level with longstanding bull divergences in a number of key indicators and some pretty big hints about what the bigger players have in mind if you start looking through various Bitfinex longs and shorts. These days, I think people ought to strongly consider pairing their BTC analysis with a cross-check of the ETH chart. The ETH chart is just a little bit more honest about what's going on - heavily correlated, but without quite so many artifacts compliments of Bart Simpson. It's a different angle on the same overall story, with different indicators and analyses being clearer on either BTC or ETH. 6 month CME futures closed at the end of June. The next two sets of 6mo futures (September and December expirations) opened near the lows of April and July. So, if like me, you only really trust analysis in crypto that comes with a healthy dose of cynicism about how and why the gears turn the way they do, that's your clue about where the rest of the year is headed. The next bullish move starts very very soon. I'm an amateur and you definitely shouldn't take anything I say as financial advice. I'd be interested in any feedback.
BITFINEX:ETHUSDLong
by acatwithcharts
2