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Hardfork

ETH ARISE!After a prolonged period of accumulation and consolidation ETH remained in the shadows until a few days ago that showed the claws. With a near hard fork, the expectations are great and it shows in the development of the price. More accurate HF data: The Ethereum network will be undergoing a planned hard fork at block number 4.37mil (4,370,000), which will likely occur between 12:00 UTC and 13:00 UTC on Monday, October 16, 2017. The Ropsten test network underwent a hard fork on September 19th (UTC) at block number 1.7mil (1,700,000) Source: blog.ethereum.org The new objectives are: USD 349.- USD 360.- USD 372.- ATH
BITSTAMP:ETHUSDLong
by AndresThomasShirakawa
Broke through the ATH, Bitcoin finally broke through and instead of creating a double top. I think now we will see another bull run for Bitcoin with a few pullbacks but I doubt it will hold it back. Like I said in my last post when I was Neutral waiting to see if It was going to create a lower high or would go for the moon. Seems it took the moon path and will continue to push forth, in my opinion $6000USD will approach very quickly. My concern (as I like to evaluate when I post) is that with the Bitcoin hard forks are people just buying Bitcoin or reverting back to BTC for the promise of free Bitcoin Gold etc. I'm still trying to find more information about that (please comment below if you know about that and links if you have them) as I've read a few different things and it seemed like most people writing were confused about if the hardforks are giving free coins like what happened with Bitcoin Cash. Anyway Bitcoin will heading up and towards Christmas it'll get an extra pump. Since 2012 when I started trading I always noticed a surge towards holiday season. I threw this together quickly so hope you don't mind I will start putting some extra time in again soon.
COINBASE:BTCUSDLong
by donmecha
THE BTC WILL NOT STOP BEFORE THE HARD FORK!It is my humble opinion but I am quite convinced of it: The BTC is not going to stop until the HARD FORK (10/25/2017) If there were any retracement would be to enter levels of overbought or some type of attack that we are already accustomed. It has strong resistances listed on the chart. After breaking the rising wedge and the inverse head and shoulders, he reached his goal perfectly, to lateralize and enter a small phase of consolidation. Important: if the price arrived at the ATH and would not follow its bullrun, we would be in the presence of a double top (not to lose sight of that) Thank you all for your time, messages and likes!
BITSTAMP:BTCUSDLong
by AndresThomasShirakawa
10
BTC, THE STRONGEST RESISTANCES AND HIS POWER IN THE VIEW OF ALLApproaching the date of what would be a new fork of the master of the cryptocurrencies, the Bitcoin after changing clearly of tendency, is prepared for the bifurcation in the coming weeks. For now the strongest levels of resistance have been met, where it is ejected even by force and intention ends by breaking them and following the path I have marked. We will see how to overcome both technical and fundamental obstacles. It's time to prove who the BTC is and who's in charge. There is no better opportunity to manifest. Thanks to everybody for your the time and good trading!
BITSTAMP:BTCUSDLong
by AndresThomasShirakawa
5
Ethereum: Cup and handle in a double bottomPOLONIEX:ETHBTC Hi all, I believe now is a good time to shift your attention towards Ethereum and perhaps even place a trade. You may have noticed that in all my ideas for longer time frames there is always 2 components that drive what position to take. The first is technical based and the second is fundamentally based. Starting off, we can see that the price chart has formed a semi-complete double bottom at the 0.75 fibonacci retracement of the all time high. To complete the double-bottom, price needs to reach the 0.5 fibonacci retracement level at 0.09420921. From a technical standpoint, price is likely to reach this level again shown through the cup and handle inside the double bottom pattern. From the cup and handle, the price target is 0.10168460 which is obtained by extending from the 'handle' the height of the 'cup'. For a longer term target based on the double bottom reversal, I see a price of 0.15412165, returning to its all time highs. I also believe that this target may be reached by the end of September to the end of October based on fundamentals discussed below. On the MACD, we are currently in an uptrend, but what is more interesting is the histogram. From the corrective wave of the all time highs, downwards momentum has decreased. Presently, there is equal bearish and bullish momentum seen in the tight range (2 horizontal aqua lines). This signals that the bearish momentum on this market is starting to deteriorate. The current period is that of decision, whether to continue downwards or reverse upwards. Based on the technical and later explained fundamentals, there is a higher chance that momentum will shift bullish. Fundamentally, Ethereum is headed for a hard-fork, Metropolis, of which the first phase, Byzantium, begins by the end of September (themerkle.com). This update is a step towards improving the current Ethereum framework. Key highlights include: . Possibility for recipients to pay gas prices . Improved privacy (masking) (zero-knowledge proofs) (cointelegraph.com) . Increase in mining difficulty . Thereby beginning the shift to POS The last points are likely to impact highly as the view on holding Ethereum changes, where there would now be some incentive to hold Ether. For a more certain entry with less risk, wait for price to break the 'handle' top and close above on high volume (As a guideline 'high volume' would be volume greater than double the moving average volume). If price fails to break-out and price rebounds from resistance, look for an entry at the last minor support which would be at 0.07499423. This may be a good idea as the uptrend for the cup and handle that precedes it is very short, thereby making it the weakest pattern in this analysis. Entry: 0.083 or 0.07499423 TP1: 0.09420921 (Short-term) TP2: 0.10168460 (Short/medium - term) TP3: 0.15412165 (Longer term) If there is anything you'd like to add or there is something you disagree with, please comment. I always welcome feedback!
Long
by TheTraderJ
4
BCHUSD Perspective And Levels: Weakness Ahead. No Supports.BCHUSD Update: Lower highs and lower lows signal further weakness. This market has no bullish structure in place at the moment and no support levels to speak of. In a situation like this I would look at purely psychological levels like 250 or 200 for any potential signs of reversal. I have not been reading up on the forums about what is going on fundamentally with BCH (the result of the hardfork), but the price action is clear: participants are getting out. At the moment it has no correlation to the price structure and stability of the original BTC market which is holding it's levels. On it's first day of trading, price action was chaotic with a 300+ point range. It initially found some support at 300, but it has been compromised and will now serve as an additional resistance to watch for. As far as resistances go this market has put in two levels worth noting. 428 which is the .382 of the bear swing and the 530 to 600 resistance zone (related to .618 of bear swing). In order for this market to prove that consistent buying is present, 428 must be taken out. Otherwise, according to price structure, the bears are in control. There is also a minor resistance at the 330 level which can be used as an early buy signal for at least a broader retrace back up toward the 430 area. If this level is compromised, it would signal that some strength may be returning and it would be wise to look for a subsequent higher low. DO NOT BOTTOM FISH. Many less experienced traders are going to see this weakness as an opportunity to buy into the "next bitcoin" really cheap. The problem is at the moment, it is poised to become cheaper. If anything, wait for a solid reversal structure, preferably on a larger time frame like 4 hour before buying this (if you are one of those long term investors). No reversal structure for me means lower prices are ahead. Remember, you don't have to buy the bottom to be profitable, you need to recognize low risk, high probability setups and they will appear just like they do in every market. Can BCH go to 0? If it is fundamentally flawed and no one adopts it, sure it can. All of these markets can. That's why it is better to be patient and wait for the proper reversal signs, which means you won't get the BEST price, but you dramatically increase your chance of getting in when conditions favor your outcome. In summary, BCH is clearly weak and is showing no signs of reversing up at the moment. There are no structural supports or reversal patterns. If you are looking to invest, it would be safer in my opinion to wait for the market to stabilize. A break of 428 will signal that strength is returning, and that scenario would prompt me to look for the subsequent retrace off of that up leg as a buying opportunity. So we have some waiting to do. Let's see what happens. Comments and questions welcome.
BShort
by MarcPMarkets
15
ETHUSD Perspective And Levels: Structure Still Signals Strength.ETHUSD Update: With the big event seemingly out of the way, it appears the outcome was a non event in terms of price action chaos. The higher low that I wrote about in my previous report held and has lead price to a higher high at the 232 area which now puts it within striking range of the 241 resistance (.382 of recent bearish swing). With the compound bullish structure in place, this market is strong and it is reasonable to expect the 241 resistance to be compromised. The only thing that surprised me about these markets was the lack of chaos. I thought a price spike was more than likely, but maybe brokers like Coinbase helped to mute that kind of price action with their market controls (preventing their customers from trading). None of the bullish technicals were compromised, and price action has only further confirmed strength with the current higher high in place at the 230 resistance. If you missed out because of all the uncertainty surrounding the BTC drama, it's okay because there will be plenty of opportunity to buy back into this market. If the market is going to trend back up into the 300s, there will be plenty of retracements along the way that will offer attractive reward to risk in my opinion. The support levels that I am watching closely for a reversal signal are the 210 area support (inverted resistance) and the 190 to 180 support zone. IF price can retrace back to either one of these areas, and I get a validated reversal, I will most likely use 195 as my stop if my entry appears at the 210 area. And a low 170s stop if my entry appears in the 190 to 180 zone. IF the 241 resistance gets taken out, I expect price to find it's next hesitation in the 250 to 280 resistance zone (.618 of recent bear swing). This is a good reference area for short term targets and to measure reward/risk. For example if I get long at 210, and my stop is 195 and my first target is 250, my RR is something like 2.5:1. That is more than acceptable. As bullish as the price action appears, there is always a scenario that can void the whole evaluation. In this case, if price falls below 163 for whatever reason, that will prompt we to reevaluate my bullish outlook and hold off on any long positions at that point. In summary, the hard fork was a non event. Price structure has only signaled further strength and as volume returns to these markets, I believe it is reasonable to expect the current resistance levels to be take out. This doesn't mean go nuts and buy highs, there will be buying opportunities, it is a matter of patience. I am now waiting for a revisit to the 210 level for a possible long entry upon a reversal signal. Comments and questions welcome.
BITFINEX:ETHUSDLong
by MarcPMarkets
29
BTCUSD Perspective And Levels: Price Structure Implies Strength.BTCUSD Update: Recent market structure implies underlying strength even though low volume holds it back. With 8/1 just around the corner this market is likely to stay quiet, but IF a bullish catalyst unfolds on Tuesday, there is no structural resistance holding this thing back from new highs and beyond. The recent upswing off of the 1826 low happens to be relatively close to the 1921 support (.382 of the broader trend) which was in place BEFORE the bounce. The fact that price found so much momentum off this level indicates that the broader bullish trend is intact which implies supports should hold and resistances should break moving forward. Even though the more recent upswing to 2922 did not go to new highs, it is still strong because structure has generated a new support zone from 2053 to 2250 (relative to .618) and the 2500 support level (relative to .382). Price has already reacted off of the 2500 area by going slightly below, but again moving quickly away from the level which is another sign of strength (there is even a nice triple bottom formation visible on smaller time frames in that area). In terms of Wave count, the retracement to 1826 is clearly a completion of a larger degree Wave 4, identified not just by the chart formations, but also the location of the low which is in the immediate area of the .382 support of the broader trend. And this puts this market in the midst of a upward Wave 5. These are the most predictable waves in my opinion since they require 4 waves to be in place. Within the Wave 5, this market is in a minor Wave 2 correction which can retest the low 2400 support or even the 2250 to 2053 support zone. If this happens, this is a perfectly normal Wave 2 and these support areas serve as good reference points for reversal patterns to begin Wave 3 of the larger 5. As far as resistance goes, the only structure this market presents at the moment is the 2550 to 2750 area which price is within at the moment. This is a minor resistance and is relative to the .618 of the recent bearish swing. A bullish catalyst on Tuesday will likely push through this area like it is not even there. In summary, this market appears poised to push new highs based on the technical structure at the moment. Keep in mind, technicals cannot anticipate fundamental surprises especially of the magnitude that can unfold on Tuesday. Anything can happen. If participants like the outcome on Tuesday, then this market will be on its way to forming a Wave 3 of 5 which according to the Wave Principle, is NEVER the shortest wave. If the market is not satisfied with the outcome, and price pushes below the 2053 level, that will cancel out the bullish structure and most likely thrust this market into a broader consolidation. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
6
ETHUSD Perspective And Levels: Broader Higher Low Forming.ETHUSD Update:Multiple day higher low forming in low volume environment as 8/1 gets nearer. As long as price stays below the 208 resistance, it is likely to gyrate within the 183 to 163 support zone. Everyone is waiting for the outcome of 8/1 and the low volume serves as evidence. Nothing unusual about this especially in light of the constant ICO scams and questionable broker emails about halting trading and withdrawals. Most of this month has felt like a waiting game that will come to a conclusion on Tuesday. Until then, it is reasonable to expect price to drift and I would like to see this market find stability within the 183 to 163 area which is relative to the .618 of the recent upswing. If price can present a reversal pattern on a smaller time frame, or a simple candle reversal on this time frame or above, it would solidify a broad higher low (see swing lines on chart) and provide an attractive reward to risk opportunity. Keep in mind on 8/1 ANYTHING can happen and technical analysis can not help us anticipate wild random movements. With that being said if my setup appears before Tuesday, I will take a small position (5% of usual size) and not place a stop. Not using a stop is not something I would recommend, especially to new participants, and I am compensating for the additional risk with smaller size. If there is a wild move on Tuesday it may be in both directions and the majority of nearby stops will likely be taken out. If ETH goes to 0, can I handle the loss. If ETH has a wild gyration and finds stability, I will have a small position that I can build on, along with protecting myself with stop orders AFTER 8/1. If price finds stability and does not go below 163, there will be a very bullish higher low in place, but in order to open the door to higher prices, the 208 (.382 of current bear swing) must be taken out. Beyond that, the 227 to 241 resistance zone is just below the .382 of the broader bearish swing and needs to also be taken out to continue the broader uptrend. If that scenario unfolds after 8/1, it is possible to see the 300s in a matter of days. In terms of wave counts, this can be labeled as a Wave 2 of a broader 3. If that is the case, and price starts pushing the resistances mentioned above, the coming wave can be the wave that takes this market to new all times highs. A solid catalyst must accompany this market in order to make a Wave 3 of that magnitude possible. Just something to be aware of. In summary, this market is poised to resume the broader uptrend. It is anyone's guess how price action will unfold on 8/1 and technical analysis will not help until after the event is absorbed into the system. I am willing to take a small position only if my plan allows, and it will be adjusted for any wild gyrations that may result Tuesday. Until then I expect price action to behave more randomly within this low volume environment. Questions and comments welcome.
BITFINEX:ETHUSD
by MarcPMarkets
23
Return of the King?Historically, the basis bband on the weekly interval has been the deciding threshold for major trend reversals. A cross upward in August 2013 signaled the beginning of the late 2013 bubble. A cross downward in February 2014 marked a denial of continuation in the uptrend, confirming the 2014-2015 bear market. A cross upward in June 2015 signaled a the end of the bear market, clearing the way for the current uptrend. Watch for the weekly price to kiss this line around $950, followed by a tempered continuation of the uptrend. A breach of this line would signal a downward move to the upper 600s and possible bear market. Keep an eye on the fork debate, but don't obsess. The Law of Slow Moving Disasters says that we'll come to an anticlimactic solution. You know what happens when we do. Good luck out there.
BITSTAMP:BTCUSDLong
by ptbrodie
ETH: more selloffs likely before another rise can be consideredIts been a rollercoaster ride for Ethereum. At one point it was hailed as the next big thing, the world computer that would solve problems real and imagined then came the DAO hack and then came the dumps. Hard fork after hard fork has damaged the credibility of Ethereum as a reliable and immutable blockchain. It is likely that it will need to come down a lot more in price before it is seen as a value proposition to investors again. If some of the promise of Ethereum becomes realised in the year ahead and proof of stake is implemented without a hitch ETH could very well rise again. PS: I do not currently hold any Ethereum, this is simply an observation
Short
by Solarian
4