ETHBTCSHORT
Trade for Ethereum/BTCMajor Trend-line broke
Two swing trade probabilities
1)Short from 0.07000-0.071
2)Long from 0.06300-0.06000
Note:This is not a financial advice.Its for Educational purposes
ETHEREUM SHORT!Ethereum is one of the coins which tend to go the opposite direction of Bitcoin so as I was expecting BTC to breakout soon and I decided to checkout and what I see is a movement down , RSI overbought bearish signal, Elliot Wave Oscillator looking to make one more small red wave before ETH goes green so a downward movement is anticipated..
So my advice to my ETH hodlers or traders sell now buy back 0.0671 BTC and make money ! Don't forget to put a stop loss(buy-back) at 0.0729 BTC because if the market goes green then ETH might just follow the market. However there are a lot of bearish signals so my position is short now.
Good Luck, Traders!
ETH/BTC BinanceIll keep it short. Pun intended.
I would buy at 57706, sell 64 or 48262 and hold long
It looks like there will be other buy points, such as 64500, But i would wait. 577 seems too good and on a huge drop 48-51 seems perfect
ETHBTC support - resistance and price directionETHBTC Daily Chart
I think, it'll try the bottom support line (blue line) again.
If the support breaks down it may fall to red support
If break up the trend line, it move to a new hill
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
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Clear ethereum bull trap.Hello guys, been a while since I posted a chart or an idea.
But I think Ethereum is setting up to be in a beautiful, beautiful, beautiful short position right now.
I spotted many indicator divergences on the Daily about 3/4 days ago but decided to wait to I actually got more confirmation.
Here it is today.
Right now what I've done is mapped this out to Wyckoff Distribution.
Wyckoff was an extremely successful trader who came up with the general principle, as outlined in this "day trader's bible" as
1) Accumulation
2) Markup
3) Distribution
4) Mark down
5) repeat 1-4 over and over
I have reason to believe that we are undergoing Wyckoff distribution.
Volume profiles matchup with the points of significance.
Purely on Wyckoff I am happy with the
1) PSY - Preliminary support, lots of climactic volume
2) BC - Buying climax, Very high buying volume
3) ST - Second Test, low volume second test up
------- PHASE A -----------, sign of trend reversal
1) SOW - sign of weakness, high volume selloff
2) UT - Weak upthrust
3) Retest of the low in SOW
4) Small markup, with generally low volume
-----------PHASE B -------------, CAUSE
1) Where demand is being tested by market manipulators (Wyckoff called this the Composite Man)
Where we are right now.
Key features are the low low low volume markup of prices, clear as day here.
------------PHASE C ----------------
Soon PHASE D will start - where markdown beings, but with weak attempts up to LPSY - last point of supply after which PHASE E starts where high volume sell off begins and prices are markeddown.
I'll add more reasons as to why I think ETHEREUM is a great short right now.
I accidentally left the indicators in on the analysis.
if you could minimise that when looking at the chart that would be greatly appreciated.
Because I have a better Indicator chart waiting
ETH/USD (Ethereum token) BREAKOUT WAVES $746=UP $677.50=DOWN!ETH/USD (Ethereum token) Semi log scale, 360 minute chart, 05/16/18, 6:07 PM EST, by Michael Mansfield
Hi trader friends! ETH lower first?
BOTTOM LINE: Ethereum is likely in the middle of its final leg lower to complete an ABC Elliott Wave double zigzag correction. However, there is the potential of a breakout up at the "area 1 black horizontal line" off recent high, since there are 5 waves off the recent low, but only on lower time-frames.
However, the most likely scenarios is that a larger double zigzag correction lower to either of the previous two Wave 4 reversal areas, at $633 and $590, where the dual dashed green lines are, is most likely at this time.
BUT, IF AN EARLY BREAKOUT UP:
If Ethereum breaks above recent swing high at $746.06, that occurred yesterday, 05/15/18, on this data, then ETH would likely see a larger degree Wave C up, or the structure could be a dynamic Wave 3 of 5 up. But again, the probabilities are that ETH is in a larger Elliott Wave ABC double zigzag correction lower, one that will lead ETH/USD to $633-$590 areas first, then up.
TRADER TIP: GO WITH THE MOST LIKELY PROBABILITY:
After a 5 wave advance, the likely target zone for and ABC correction down, to what I call “The Best Buy Zone,” is the prior Wave 4 or the prior Wave 4 of lesser degree, shown herein by the two dashed green lines on this chart (labeled Wave IV and Wave 4). So if we see this market drop to between $633 and $590 on declining momentum and declining volume, that would then likely be a nice-lower risk-area to buy into.
RISK OF A DEEPER DROP BEGINS AT $516:
Breaking below the lower BLUE Andrews Pitchfork support line, currently
moving upward yet at $516 where I have labeled the potential Wave C low, would likely lead to a move down to $420, the lowest pitchfork support line (black), or maybe far lower! But that looks less likely right now.
CYCLES:
Longer-term cycle (blue) is still heading lower, but this is on limited sample size of data. So, the blue cycle is less trusted at this time. However, if accurate, a more bearish outlook would be necessary.
The medium-term cycle (green) is strong up (more data=more likely).
The shorter-term cycle (red) is moving down in line with a correction lower for now.
SUMMARY: This cycle combination best fits a bit deeper correction, for now, then up in the direction of the green cycle, for either a large degree Wave (C) bounce or Wave 3 of 5 up to nearly a new high.
CONFIRMATION EITHER WAY:
The next 3-5 days will likely provide the wave structure and breakdown lower, or breakout higher, which would then likely provide a roadmap for the next 3 months or price movements.
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers and good trading,
Michael Mansfield CIO
ETHBTCETH in downtrend channel since February and no signs to go up. We can see reverse somewhere on strong support line near 78.6 Fibonacci.
ETHBTC Global Forecast 2018y.Hello Traders!
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Ascend triangle on BTC, or Double top? BTC with ETH/BTC analysisIn this chart we have BTC/USD in the green and red bars, while ETH/BTC in the purple and magenta. I want to compare the two to really understand why BTC is moving up the way it is and identifiers that will help us know when it will reverse and a potential trade opportunity. This will help us know what to look when we enter and knowing why and how to be cautious.
If we look at ETH and LTC, it's clear that BTC has been dominating trading as investors are exchanging for BTC driving the price significantly higher. this has kept LTC and ETH suppressed while BTC has been driven up significantly. Before I get into specifics, let's examine a few important pieces going on with these overlays.
1.Timewise, the signifcant bottoms of ETH/BTC generally happen before BTC/USD and this time varies from a small time frame of 5 days to a much more significant time of upwards of 2 weeks.
2. The move's in ETH/BTC move much more dramatically than BTCUSD. IE: Early Jan we had ETH/BTC move up significantly while BTC/USD did not move down as much
These are important to notate as we look into why it could go up or it could reverse. It gives us a little extra insight as to whats going on and what to look for.
Signs we could keep going up:
1. BTC is forming a large ascending triangle
2. Strong MACD
3. If you zoom in on ETHBTC you will notice it's already broken it's low and looks to be heading lower. This gives it a lot of room to keep going down. I would guess it will at least go to that previous range which I have a blue support line on.
Signs we could reverse and go down:
1. Double top on BTC in conjunction with RSI double top??
2. ETHBTC is showing signs of RSI divergence on the daily chart. Are we close to bottoming there?
3. Low volume on this chart and on gdax. This is also confirmed by no USD buying power in LTC or ETH. Looks like we only been going up on shear crypto cross trading. This could be argued to be good or bad.
Here are some strategies to enter: BTC comes down to this 10,500 level and completes one more wave on this ascending triangle and then continues up. Lot of ways you can play it depending on how risky you want to be and depending on what it does from here. You can buy a potential dip, or wait for confirmation and buy the breakout. If we get confirmation that it does break out, I would look for a move to the upper end of the 12k mark, in the 12.9k range. Expect it to wander up like it has been. I would NOT go in heavy for this trade. the technical stops are either below 9.5 if you enter at 10.5k or just below the support line on the breakout.This has the potential of a reversing down hard so be careful.
A cautionary warning: We really need to wait for a confirmation to enter in a trade and watch it closely. My martingale trades early last month I felt much more confidence in and we made out great. This does show signs of reversing and we don't want to be caught with our pants down so enter with caution.
Happy Trading - Don't stress and pick your points!
-Sherem
Short ETH/BTC - H&S pattern completion with bearish TK crossShort ETH/BTC on the daily timeframe. Head and shoulders pattern completing as price reaches the bottom of the Ichimoku cloud, along with bearish TK cross. Wait for completion of pattern and price to drop through the bottom of the cloud to short - targets around 0.031.
ETHBTC on closer view (02.25)Just showing where i drew a b and c going based on the i pattern from previous chart.
ETH/BTC Bearish CaseI have both a bullish and bearish case for the ETH/BTC price. This bearish case represents a continued drop of the ratio down to the 0.036-0.040 level over a long time period.
The red circles most clearly represent the bearish repeating pattern. The counts of 1, 2, and 3 show the three peaks that correspond to one another between the two different red circles. You can ignore the yellow circles for now, as the are part of the bullish scenario.
NOTE: This chart is in the linear scale. In the bullish chart, I will post in the logarithmic scale.
Coinbase:ETH/BTC BreakoutI am extremely new to this, but enjoy trying to make predictions. This is my first posted idea...so here goes.
I think that ETH/BTC is about to make a breakout for a nice bull run...A good buy-in opportunity is coming up!
ETHBTC What's next? 5th Wave or Retracement?ETH is approaching a major testing of a current support line near the 0.04 price range. Potential 5th Elliot Wave to come if support is found and the trend line remains unbroken. This would be a good setup for a Long.
On the other hand if support around the 0.04 price range is broken, expect a Retracement to the lower Fib line. This would be a great setup for a Short.
Good luck trading!
