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ETHEUR

ETH Bulls unloads a combination on the BearsHello everyone ! Glad to say that we finally we have a confirmed breakout in the upward direction ! I'm feeling confident that we have established a bottom and we are looking to progress further. I was discussing volume in one of my earlier charts, I mentioned that the volume was lackluster and it was a concern of mine, however after further reviewing the volume i have come to the conclusion even though we lacked volume intially, we have seen a increase of volume at each resistance, when our largest hurdle was met we saw an increase. It's also important to note that we are not moving to extreme highs with relative low volume, but only enough to sustain us in the current uptrend channel. I see this as a healthy recovery and i expect volume to increase over time. When we made the move from 460 to 650 the volume was roughly 60% more compared to when we moved from 662 to 676. Bare in mind that that the resistance should be higher as we progress further not lower, but yes, we are not having any crazy volumes like when we hit bottom that bought dirt cheap ETH (at our major support zone). You can also read the information regarding volume in a ascending triangle outbreak, "while volume confirmation is preferred, it is not always necessary". The volume also contracted during the ascending triangle (dashed black in the volume bar) - this is totally normal. Where do we go from here? That i wonder too. We can see that right after we broke out there was a huge bearish candle that got absorbed, followed by bullish candle, I'm not expecting 700 to act like a support zone, but it is definitly a zone that will keep on get tested until the bears give it up to the bulls, we are still fighting over territory here. Instead i will rely on the orange dashed line as a support/stop loss below, it's a trendline that the bears got rejected several times over until we finally broke out to the upside. I have mapped out the channel, which looks very similar to one of the earlier charts i made, so that chart is still some what relevant. I have added a paralell channel to the end of the ascending triangle as we might consolidate above the 700€ resistance point we broke. Next big hurdle will be 750€ and 800€, as we start to slowly chop away more to the upside (this will be a progress) I'm expecting more and more volume to enter into the market. As we all know, there has been a lot of FUD which is keeping investors away, bubble talks, crash talks, Tether, Binance, China, etc etc, but i feel like people will start to get attracted to crypto again very soon as the market displays an extreme resiliance and strength. However, if we were to talk real world stuff, the stock market is a bit concerning right now and that could have a ripple effect into crypto if shit hits the fan. Until next time, - ETH Hunter -
Long
by ethhunter
ETH A bullish case ?Hello everyone! My last chart didnt turn out as i thought it would, it's now clear that a ascending triangle almost fully formed. This is making me lean more to the bullish side, however i would still argue to trade with caution because we have moved up on relative small volumes. Typically, ascending triangles signals the end of a downtrend, a reversal. I have set my self up with a smaller position to see where we break off to, wherever we move next will be decided today. Good luck trading
Long
by ethhunter
5
ETH, why do you want to be so cheap? Oh well, thank you!Hello everyone ! I'm say to sad that the volume we needed did not show up to break the current downtrend. On the 1 hour chart we have crossed over to a brearish state again, and we can see the shape of a head and shoulders pattern appear. We will go probably go down a bit, but the question is how much, and when to re-enter again. I have mapped out some possible scenarios, or rather entry points to enter a long position again. The first would be right above the blue dashed line, where we ran up from to take a second stab at 700€ which got violently rejected. The second entry point would be at the very bottom in the blue box, where we initiated the uptrend rally. The third (pick your poison) could be anywhere inside the green box named 1-3 where bullish moves was made. However, the most feasable option would be to verify a double bottom (this carries the least risk and most reward) at the low area end where we started the uptrend (purple line). Good luck trading
Short
by ethhunter
ETH Why you wanna be so cheap?Hello everyone ! I'm say to sad that the volume we needed did not show up to break the current downtrend. On the 1 hour chart we have crossed over to a brearish state again, and we can see the shape of a head and shoulders pattern appear. We will go probably go down a bit, but the question is how much, and when to re-enter again. I have mapped out some possible scenarios, or rather entry points to enter a long position again. The first would be right above the blue dashed line, where we attempted a second attempt at 700. The second entry point would be at the very bottom in the blue box, where we initiated the uptrend rally. The third (pick your poison) could be anywhere inside the green box named 1-3 where bullish moves was made. However, the most feasable option would be to verify a double bottom (this carries the least risk and most reward) at the low area end where we started the uptrend (purple line). Good luck trading
Short
by ethhunter
ETH Showing it's moves - But needs more volumeHello ! Let's see whats going on the 6 Hour ETH EUR chart! We can see that we are progressing nicely but met some tough resistance at 700€ and got kicked down to the mid-low 600€, but the bulls pushed us back up, and right now we are hovering just below the 700€ resistance again. To successfully break 700€ we need the volume to increase, If we manage to break 700€ and sustain above it - it would be a huge victory for the bulls. If we manage to push all the way up to the next resistance around 800€ , we will probably see some selling again which could drop us down to either 700 or the the minor support zone that i marked out, and then perhaps bounce from there. However, If we cant break 700 i have a feeling that people will stop believing and we could in worst case go back to re test 450€, but the preferable option would be to move sideways until volume steps in. Good luck trading
Long
by ethhunter
ETH Bulls are back, but the bears are stubborn ! Next move ?Hello everyone ! Looks like I'm on a streak right now, made some good decisions lately and I'm really feeling the market, I Hope that i helped someone with my ideas. :) So whats the next move? Right now we have established a uptrend channel that still is valid, though while i was charting out everything i saw that there was an attempt to break the channel, as of now it's still valid. (You can see the thin wick of a bearish candle dropping out from it, as long as the wick is thin and not filled out this is a very bullish sign) Since my last post we had a bullish divergence crossover, we had amazing volume that's gave us a leg to stand on, however, we are not running right now, but rather slowly creeping up to establish another, larger channel to move within. Good thing is that I see support appearing all over the board, but the bears are very stubborn and trying to kick us down again, but my feeling is that we simply had enough now. What' will happen next? My gut says that bears will try to break this channel to force out liquidation on people that are keeping tight stops, and this may happen but I would not worry to much about it unless we move towards the mid or lower end of 500€, but if that were to happen, it would signal that we are in a bull trap, however i would say that the bull trap already happened at when we went from 565 to 810€ -> then DROP all the way to my long target (green zone), a prediction i made in my earlier charts. I have encircled the bullish zone we need to move inside, this current uptrend channel that we are moving within right now will prove us a entry to a much larger channel which will open up for a much wider uptrend. Since i started my long i have moved up my stop loss, to right above 500€ to protect my profits. Good luck trading
Long
by ethhunter
ETH - WHERE IS THE BOTTOM!!!!!!I guess everyone wants to know, where is the bottom at ? Personally I got my limit orders filled at 550€ and got some more orders waiting to be filled at 500€. So what about the bottom, this is just "for fun call" but what i can say is that 400€ is a SUPER bullish zone for ethereum, and has been a notorious resistance point in the past. If that zone breaks, I don't know what to expect really - so 400€ is the absolute bottom for me personally, if we get past that point i'm not touching this for a while. This is just a for fun guess , and please don't set your buy orders at 400€ - chances that they will get filled are slim. :)
by ethhunter
ETH - clearly a bubble crashing, yes, GET OUT!? No, no no !So what's going on, everything is crashing. Yeah, it is... For the people who are new to crypto this may look like this, but it's all a part of the cycles in this volatile space. Vertical movments always act this way, but if we take a look at the bigger picture here we can see that we went into a parabolic mode and we have now moved down all the way down to the long-term trendline. This is the important part, this is where the majority of people want to get out, a.k.a "blood in the streets". But this is also where the smart traders get in, they got out way before this happened because they saw that rest of the investors were in a state of euphoria which is now close to capitulation, and now are looking to get in a long position again. I have dashed out the long term trendline and as you can see we are at the bottom of it, if the trendline breaks I'm pretty sure we will correct into the long time trendline very quickly. Not much to say, I'm going long from here and setting a stop loss at around 395€ which actually is south of the trendline, this is because the bears got us at their mercy and they will do everything to squeeze out the people in long positions to gobble up more cheap eth. Having such a low stop loss is a risk I'm willing to take because the reward is much greater. I wish you all good luck.
Long
by ethhunter
Ether, get your parachutes out!I was initially bullish after the recent action when we saw the engulfing hammer shot us back all the way to 790€. I was expecting a decline after that, but i also saw the start of a trendline that would put us near previous support or 850-900€. I opened a long around 680€ that i closed prematurely - around 800€ because i was still unsure about the situation and i noticed starting to form bear flag appearing on the 1h chart. As expected, we dropped from the minor support we had established, we are now looking to go lower before any gains can be made again. I'm perma bull on ETH because of the use case, technology and not least the amount of developers involved in Ethereum. -Developers Developers Developers- this is the key to the success of Ether which will be reflected in future price. I will be looking to accumulate at the next stop which will be the origin of the engulfing hammer, if we can verify a double bottom there we have no other way to go but to retest 800-900€ but there is a lot of resistance there so building momentun can take some time. My confirmation that i was looking for in my 1st published chart is now verified, we are in a bear market that could last for a while. I will be looking to accumulate when we hit the lower end of the price which is my red line target.
Short
by ethhunter
Support tested - solid boucne, Ether looking higher!Made a pretty good call yesterday, and we are now in a good position for a longer trade. I took some small profits instead of closing my whole trade, as i originally planned to do. It looks like we have a new trendline targeting previous support levels at 850 and 900€. I think we will go there but,but expect a small decline or consolidation if we manage to touch 850€, taking some profit would not be a bad idea at that point, as we might go back to confirm 800€ , which will act as a support until we can test the trendline again. Don't have time to write as much as i wanted but you can see my projection and my idea how this will pan out. Good luck fellas
Long
by ethhunter
1
ETH confirming bounce, or dead cat? Bulls taking the fight !We seem to have established a support around 685€ after dropping to a whooping 573€ and currently moving around in the 700€ area. I wont go too in depth because my technical analysis skills are very limited, but taking RSI and the volume behind the engulfing hammer thats formed, this is could be the end and of the current bear market, but beware and use risk managment. The 1h chart still is moving down from the recent high of around 790€ , close to 800€ which ha previously has been a support zone, and turned into a resistance now. I think there is a good chance we will see a slow decline to the current support that has been established, until we move to further highs, which I'm looking for - a somewhat of confirmation.
Long
by ethhunter
ETH looking extremely cyclic and going to 1800After the last couple of bearish days I lost confidence in my previous ETHEUR analysis. Especially because guys like "sebastian.seliga .7" said we might be in ABC correction. But now I am even more convinced that I'm right. ETHEUR hast been extremely cyclic and has already performed at least 2 of these cycles and right now we are in the 3rd. Every cycle starts with the crash of the last all time high. (ORANGE) There we can see a fist drop followed by an even deeper one to the area of the support from the last cycle. Then we have a quick recovery (BLUE) followed by a smaller downward wave (YELLOW) wich is not going higher than the last (BLUE) recovery. After that the chart consolidates and volatility should go down.(GREEN) After the consolidation we can see a new rally to a new all time high (CYAN). For the new all time high there are different possible ways for calculation (WHITE): 1. increase since last consolidation (~640) to last all time high (~1200) consolidation now (~950) to new all time high --> 1780 2. crash (~400) to last all time high (~1200) crash (~600) to new all time high --> 1800 So I personally believe we might see something around 1800 for a new all time high in a couple of days. Do you think the same? ---- all trades on your own risk
by Skillzzz
ETH/EUR sell opportunityETH/EUR is extending downside for 3rd consecutive session, trades 5.09% lower on the day. Upside in the pair remains capped below 5-DMA which is immediate resistance at 859. Downside in the pair is currently holding support at 38.2% Fib retrace of 115 to 1183 rally at 775. Break below 38.2% Fib support is likely to see further weakness. Scope then for test of 670 levels. Technical studies on daily and intraday charts are bearish. Immediate support below 775 lies at 50-DMA at 725 levels. On the flipside, breakout above 5-DMA could see upside till 20-DMA at 935. Violation at 20-DMA to invalidate bearish bias. Support levels - 775 (38.2% Fib retrace of 115 to 1183 rally), 725 (50-DMA), 670 (rising trendline) Resistance levels - 800, 859 (5-DMA), 930 (23.6% Fib) Good to go short on break below 775, SL: 860, TP: 725/ 700/ 680/ 650
Short
by FxWirePro