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ETH 'Piercing' the 5 Month ChannelFor the last 8 months, ETH has found itself in a strikingly powerful downtrend. It is now down ~86% from its all time high of $1400, and down over 30% in just the last couple days.. Currently Ethereum is piercing downwards out of a 5 month Trendline/Channel. As you can clearly see on the chart below, this is the second time we have found the price below the trendline, however ETH has yet to break a daily candle below the level. Bear Scenario: IF ETH fails to close the fastly approaching daily above this line, I would expect to continue to correct to the next support around $150 Bull Scenario: IF somehow ETH is able to succeed in redeeming this trendline, I would expect a correction upwards to at least the $230 region. It is very upsetting to see this market in such a bearish state. I hope this analysis was helpful to you all, and I wish you all the best of luck. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
BITFINEX:ETHUSD
by oh92
4
ETH Capitulation - Is there an end in sight? During the beginning of the crypto sell off earlier this year, Ethereum was one of the highest performing alts for a great period of time. I believe this was because during the beginning of this bear market, people were not as hesitant to take risky investments such as ICOs, AND also, many ICO developers were likely cashing out their tokens for Ethereum, all in turn, helped levitate the price. However, as time went on, and the bear trend did not reverse, people began to panic. ICO bag holders went running for cover, cashing out what little was left of their investment. All mean while ICO developer whales realized it may be time to cash out their MASSIVE stacks of Ethereum while the price is still relatively high. All in turn we get Ethereum capitulation. Now I do not know if the end is in sight, however, based on harmonics, we have a possible Bullish Gartley setup on the ETH/ BTC pair. Not only that, but ETHUSD is nearing my first support level buys at 230. Based on my trading strategy, 2 out of the 2 currency pairs show possible support around these levels. I plan leverage against my USD to start building a ETHBTC long. If all goes to plan and ETHUSD finds support, I will start purchasing Ethereum outright. My preferred entry is right at the 1.618 fib level I hope you all enjoyed my analysis! Please let me know what you think in the comments below! DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Long
by oh92
2
Third Time's a Charm - Divergence StudyA quick study composed to illustrate the multiple levels of divergence Ethereum has had since November of last year. Based on this study, short term trend changes typically took place at the second level of divergence on the Relative Momentum Range Indicator . The only other acceptation for this, was the reversal from the top this last January. At that time, was so much upward momentum in the market that it took until the third signal of divergence to confirm a trend change. Some of you will say that this happens all the time, which is true. However this typically occurs on lower timeframes. Typically the higher the timeframe, the higher the chance of a divergence signal to lead into a confirmation. Looking at where we are now, we once again have a potential third attempt of bullish divergence forming on the daily chart. By no means is this a signal to buy.. The crpyto market as a whole is going through an extremely bearish cycle at the moment. However, looking closer at the chart you will see that we have potential trendline support around $420. I believe that if we hit this, the divergence line will still be in tack and we could see a potential bounce. For those of you that follow me, you likely notice that this still follows my ETH Fractal idea. I want to note that this fractal still remains a possibility until a lower lower is formed. Some may say it is foolish to remain optimistic in such a bearish trend. You very well may be right. I hope you all found this analysis a bit interesting and I wish you all the best of luck! ETH Fractal Analysis:
COINBASE:ETHUSD
by oh92
2
ETH - The Bottom Could Be NearBefore you read any further I want to state the current market state is extremely BEARISH. There is absolutely no sign of reversal yet, so buying on the support levels I have shown is extremely dangerous. I have lost nearly my entire account attempting to catch the bottom on this tumble down. So please do your own due diligence and wait for clear signs of reversal. This analysis is entirely based on fractals, fibonacci retracements, and price ratios. For those of you unfamiliar with fractals, they are recurring patterns that are used to predict reversals among larger, more chaotic price movements. This example I am using fractals to help us predict the bottom and possibly future price movement. The fractals above are highlighted in boxes. From afar they look similar but not quite exact. However by lowering the timeframe on the smaller fractual you will see there is a massive amount of resemblance between the two. After noticing this, I used both price ratios and fib levels of the smaller fractal to help predict the bottom of the current downtrend we are in. Based on that data possible support for reversal ranges from $300-$400. Which is more clearly shown on the chart above. IF this support holds true and the fractal repeats itself, the next bull run could be Ethereum's biggest one yet. Zooming out on the chart above you will see my 3 major target zones. My third target being just over $5000. Fractals are a great tool to use when it comes to trading. Especially on lower time frames. The reason fractals are less likely to work on higher time frames is due to larger variables effecting it. For example the ICO market is being heavily attacked by advertising companies and govermental regulation. Events like this could disable Ethereums ability to gain Bullish momentum. However, the setup is here. So we wait, and time will tell what the future holds. I hope you all found this analysis enlightening in these very bearish times. For those of you worried about the current market conditions, you should be, however the bottom will come in time, When is the uncertain factor. I wish you all the best of luck. ETH tips always appreciated: 0xEEcD7Ce6E22AfA6083074c4CCd326Be0b1C932d9 DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
COINBASE:ETHUSDLong
by oh92
6
ETH Moon Shot Inc.ERC20 Tokens have been booming! However what good are these tokens without the network on which they were built? Based on current TA, and the mass accumulation of these tokens running on the Ethereum network. I believe a well deserved ETH rally could be within the near future. Possibly sending us up over that 1k milestone. My Analysis: After a recent rally, ETH is now attempting to break back up into its previous upward channel. IF we break back up into the channel I have a main target set at $1218. Possible resistance levels are also shown above. IF we fail to break back up into the channel, I expect a small retracement back into the 764-854 zone. I believe this could be an excellent entry zone for any long term investors. Something to consider: This analysis is dependant on the current BTC trading conditions. At the time of this post, BTC seems to be stable. IF BTC continues to breakdown. This TA will likely become invalid. Happy New Year and I wish you all the best of luck! DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Long
by oh92
8
The Great Ascending TriangleAfter what seems to of been months of consolidation, ETH is finally on the move, and very rapidly. IF we are able to smash through the resistance zone between 390 and 407 I believe this could send ETH into one of its' biggest bull runs yet. As you can see on the chart, it appears ETH has formed a giant ascending triangle. Now if the size of the triangle reflects the magnitude of the breakout, this could be huge. We have also just broken AND bounced off the RSI trendline. I believe this has put ETH in an extremely bullish position. However, this will only be ETH's second test of the resistance zone, so a breakout is not guaranteed. My plan of action: The Good: IF we break into the resistance zone I will add to my long from $340 My target from there would be the previous ATH of 410. IF we break through that level I will once again add to my long. My main targets from there are shown in gold on the chart above. They are 481 and 576 . However, I will likely take profits at intermediate resistance zone which are also shown above. The Bad: There is always the possibly that ETH could hit the resistance zone and bounce off. If this happens, I will likely take profit from my previous long and wait for a clear re-entry. The blue lines within the triangle represent possible support levels. Lets hope for the better of the two! This could go down in history as The Great Ascending Triangle DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Long
by oh92
23
ETH, Are We There Yet?As you can see from the chart, ETH has been consolidating for some time now. Some analysis believe, the longer the consolidation, the larger the breakout potential. That is IF it ever happens.. Some key levels to watch out for are the 335 and the 338. Breaks in either of these levels could help ETH gain some very bullish momentum. IF we break BOTH of these levels, my first main target for ETH would be 353 at its previous lower high, and then followed by the fib extension at 373. If we end up breaking the 338 level, I will post additional targets below. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Long
by oh92
ETH - Time to Shine?As we all know, ETH has seen very little action over the last month due to BTC stealing the show. However with the BTC fork craze nearing an end, I believe that ETH may have a chance for a move. As you can tell from the chart above it appears that ETH is starting to squeeze within a pennant. The BULL Cycle: IF we happen to break through top, I will be entering a long position. My major target points would be 350, 394, and 448. Additional target points are the fib extensions shown above. The BEAR Cycle: As much as I would love to see ETH make a run up, there is still a chance we will fall out the bottom of the pennant. IF this happens I will likely place a short, and my first target would be the major support line at 271. I hope this helps and I wish you all the best of luck! DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Long
by oh92
4
Advise CautionAs we all know, ETH has had an extremely bullish over the last month with very little retracement. However based off TA, it appears that ETH may have hit its' "short term" top. I say this because a bearish wedge has formed at the top, and the RSI indicator is showing signs of divergence. This could mean that at least somewhat of a correction is likely. I say somewhat because if you look at my previous ETH chart, ETH has shown signs of weakness in the past yet it has pushed right through. However, IF ETH breaks the bottom of the current wedge, I plan to short for a quick scalp none the less. My first target would be the top of the Retracement Zone where I would likely take profit. From there I would again wait for another signal, and a break in that level to short again, placing us into the "Retracement Zone." This zone would not indicate a bear market at all, it would only be a healthy, and I believe, much needed correction for ETH. The market will likely find a lot of support in the zone. The lower price would likely attract new investors, which could eventually lead us to new highs. IF (big IF) we would fall into the Reversal Zone, I would close all long term investments. This would be a very dangerous move on ETH's behalf, as it would likely entice panic throughout the market. I do not expect this to happen at all, just informing you all of the possibilities. Summary: Even though the market remains extremely Bullish, it is still due for a healthy correction. Therefore, IF ETH starts a retracement, I suspect it to be minor with a final target no lower than $355; until noted otherwise. IF ETH fails to break the wedge, and the market remains full Bull, we will likely test the previous high, along side the top trendline. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Short
by oh92
13