Relief Rally Over. Top is InRight where I put the vertical line go zoom in on the 1 hour and then the 1 minute. We're starting to print mirror image patterns. The trend is about to flip. Also it just so happens that we are right at the golden pocket from ATH to the bottom of our consolidation zone. You can see the bearish H & S pattern that is flipping the trend and how it's rounding out the top. Go short something and hold it all week. Thank me later.
Oh also how could I forget to mention the massive bearish divergence on the 4 hour that we've had all week
Ethusdshort
Ethereum- Pin Bars before correctionAlso Ethereum looks tired and a correction could be just around the corner
A Doji candle 2 days ago is followed by a Pin Bar yesterday and this give me reasons to expect a drop soon.
Above 3200 sellers seem strong and short term sellers could have at least 2800 as a target
A daily close above 3250 would negate this scenario
ethusd shortReasons :
1)touched the support level and started to bounce back(check today's candle)
2)price action analysis(check the chart)
3)yellow ema line has started to indicate down
2nd support level will be our take profit
as you can see i decreased the number of pips in profit because we want to hit our take profit perfectly without the market bouncing back
ETH updateI decided to update you also on ETH the king of the alts. Eth seems a little more prime then BTC to start moving up. As you can see is now trading in an ascending channel, this is also a bearish formation, however bullish till the lower support is broken. I believe eth will move its way up to 3500, there it will be interesting to see if it will form a whipsaw and push to the 3800 level before to retrace back down to 2800 and possibly 2400. To appreciate the flag ETH formed in the RSI, if the momentum will break upward then we should have a nice acceleration up, the opposite is also true.
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ATH condition: first correction and then pumpHello dear friends
As you can see in the diagram, the ATH is ready for a correction after the recent ascent
ATH correction can be Fibonacci 0.618 = $2300
That is up to MA200 per day = $2300
That brings the price correction to around $2,300
After this correction, we see the formation of a continuous and incremental triangle
Now, with this correction, ATH will make its point D in the ascending triangle and will start moving towards the upper side of the triangle, and after breaking the upper side of the triangle, it will continue its movement according to the triangle pattern up to $6,800.
Dear friends, this is not a trading recommendation
Please make your transactions at your own discretion and opinion
Good luck
ETH Retreats After Rising To $3,200 For The First Time Since May
Ethereum price sustained the hard fork momentum last week to trade at $3,200.
A correction is underway, with Ether looking forward to the next support at $2,800.
Ethereum has been on the investors' favorite list since last week. The Ethereum London hard fork put Ethereum back on the global map as it hit the headlines, with an upgrade that will see gas fees reduced and the protocol making way for the implementation of ETH 2.0.
The gigantic smart contract token made haste above $2,800, a resistance level that had initially barred bulls from gaining ground. As investor appetite for Ether grew over the weekend, the price lifted above $3,000. Ethereum later brushed shoulders with $3,200 for the first time since May.
Ethereum Price Hits The Reverse Button
Ethereum is in the middle of a retreat after suffering rejection at $3,200. As the price shot up last week, holders anticipated a breakout to $4,000 and perhaps a retest of the all-time high. Meanwhile, Ether has slipped beneath $3,000 amid a seemingly strong correction.
It is worth mentioning that if bears increase their positions, overhead pressure will intensify, thus pushing Ethereum toward the following tentative support at $2,800. Note that the Relative Strength Index (RSI) on the daily chart emphasizes sellers' likelihood of staying in control.
According to the Moving Average Convergence Divergence (MACD) indicator, buyers are relatively in control. However, if they do not resume complete control in the near term, a sell signal will likely emerge. Therefore, the support at $2,800 remains crucial for the resumption of the uptrend and preventing more losses toward $2.400.
On the upside, higher support, preferably above $2,900, could allow bulls to assume control as soon as possible. Moreover, reclaiming the ground above $3,000 will most likely trigger massive gains as investors shift attention to $3,600 and $4,000, respectively.
Ethereum Intraday Levels
Spot rate: $2,952
Trend: Bearish
Volatility: Low
Resistance: $3,200
Support: $2,800
Ethereum Head and Shoulders Potential Short!Ethereum is potentially forming a head and shoulders pattern. The neckline is at 2660, so if price breaks below this level with strong volume, I will consider taking a short. The technical price target is at 2555. If price doesn't break below 2660, then I wont be taking a short.
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ETH Short ideaEthereum had a 12 green day streak with a very steep trendline supporting from below, but in my opinion it is very likely to break to the downside in the next few days.
You could alternatively wait for confirmation(for the trendline to break), but the R/R is fairly good so might as well start averaging your short in.
It is very much possible for ETH to go up to 2700-2720$ so use leverage carefully.
T1: 2280
T2: 2180
T3: 2080
SL: 2750
EthUsd- Rising wedge is a warningLike all the crypto market, EthUsd also has had a good run in the past 2 weeks, gaining 1000usd.
However, the rise is not impulsive in nature, resembling an ABCD type correction and also is forming a rising wedge.
Confirmation for sellers comes with the break of the formation support with more confirmation once we have a break under horizontal one.
I'm looking to sell
3011$ Ethereum is valid.Our calculations are a bit mixed.
We compare the Sellers and Buyers and determine the price through artificial intelligence.
Amount or not. We withdraw all our money at the specified point.
We certainly do not enter the short position from these points.
It's not that we can't lower the price.
We want it to rise. Everybody win.
You can check my old posts.
We do what we say.
Confidentiality is essential in our positions.
There will definitely be those who enter reverse trades.
We are waiting for him. For the hunt. While they hunt small fish.
They do not realize that they are prey.
When I talked to the fund managers,
we saw this decrease in January 2021.
We can see the trend return with a weekly close above $39200.
ETHUSD pushed to Supply ZoneJust a quick update on ETHUSD. You can see from the previous analysis that associated price action pushed all the way to the supply zone and is at a critical decision stage. If price can push through this area (red arrow) and then breakthrough and retest we can see further price levels at previous highs. If the price can't break through the demand zone below is the area that we can expect the price to fall to and even beyond that if bearish overall momentum picks back up steam.
*Note - I suggest we wait until we see what PRICE will do and not just hit the hot button. Capital preservation is key. I am not a financial advisor and I can't tell you what to do with your money, but if it were me risking my capital, I would want to be like the Remora that swim under the SHARKS and eat when they eat in the direction that they eat in. Just my two cents.