PoorTomTrading

PoorTomTrading

This bottoming action on previous strong support is very bullish. We have put in a higher low, and CMF has been increasing for a while, with a higher low on that as well. I expect BTC has also reached a top, so both pairs will likely decrease in USD price, but ETH will fall less than BTC . If ETH makes a lower low from here, this idea is invalidated.

PoorTomTrading

SPX has hit the Fib extension and is coming back to retest support on fairly low volume. This is all normal and healthy and bullish. There are also many close level of support even if we do fall through again, but IMO it's just taken a while to establish dominance above this trendline that goes back to February (and arguably around the start of 2018). There's...

PoorTomTrading

This one looks like a great set up. There's been some huge volume and then a steady decrease during this descending wedge . At the moment on lower timeframes it is edging along the top resistance, which is a good sign Wait for a breakout, retest and resumption on at least the 4Hr chart. Depending where it breaks the wedge (I'm guessing it will be tomorrow), a...

PoorTomTrading

This is not a crash. At least not yet. If ETH can hold this area against BTC, it should also be able to hold the Bull Flag pattern against USDT. If it fails to hold, I will be looking at much lower downside, around $440 USD.

PoorTomTrading

An interesting comparison between ETH and Gold corrections. This is more evidence that Ethereum is not going to crash. We are in a healthy correction pattern as per Elliott Wave theory.

PoorTomTrading Updated 

I am liking these UP and DOWN token for giving a clearer picture of Ethereum and Bitcoin. Fairly self explanatory hopefully, feel free to ask any questions.

PoorTomTrading

ETH, LINK, and BTC are all in descending channels. LINK looks more like a descending wedge than the others, while ETH and BTC look more like Bull Flags. In any case, go long off the bottom, or wait for a break out of the top of the channel for more confirmation.

PoorTomTrading

We've all been waiting for some sign to eventuate and show a direction. I think this might be it. It will also hopefully bounce off the 50MA for extra confirmation. Ethereum isn't showing the same pattern, so we'll have to wait and see what happens there. Please consider donating a few Gwei if you enjoy my charts and find them helpful :)...

PoorTomTrading Updated 

There are two conflicting ideas for Ether right now. The 1 Hr candles (or if you count the wicks on the 4 Hr candles) shows a rising wedge pattern. This rising wedge is much clearer on BTC which is what leads me to believe it is more likely. However the 4 Hr candles look like a nice ascending triangle pattern which, if it breaks to the upside should be very...

PoorTomTrading

The Elliott Wave correction that I predicted has now completed and we are resuming a trendy move upward. We now just need to see a retest of 1810 on daily candles and this will set up the first leg of an Elliott Wave. It could of course go higher first, and the first leg could be quite long, but at the moment this idea is what I expect. See previous idea here

PoorTomTrading

As per my previous ideas on gold, we now have a technical entry with a retest and resumption on the 8hr candles. I don't like the chances of going straight up from here, but I've taken a small position anyway. My stop loss is also tight at 1806. If we go up from here it should be fairly strong. A better entry will be either after a wick down to the lower trendline...

PoorTomTrading

If this candle can hold and we get a resumption up from here above the last 8hr candle it offers a perfect entry. It is interesting to compare this to ETH, which is still ranging in the wicks of the previous high. It's also interesting that this could have been used as an entry signal for ETH on the volume bar marked. This gave a MUCH clearer entry than the...

PoorTomTrading Updated 

Supply is beginning to be absorbed. If we can resume upward from here, and get above the closest resistance that price just bounced down off, then LINK should gain on ETH again. There could still be a more solid move downward before a spring up, and that would be an even better entry depending on the strength of it. I will post again if that happens and is a good...

PoorTomTrading

The support lines around .308 and .302 are now the likely targets. If it can resume up off the closest support at .308, it will also maintain the parabolic trendline it has started. Please consider donating a few Gwei if you enjoy my charts and find them helpful :) 0xf611624408DB83923979Fc2cBd88D6965594fb31

PoorTomTrading

ETH is brekaout out of a small hourly consolidation zone and off the parabolic trendline. Watch for a break of that trendline though, as it will take us back to one of the two lower support zones. Please consider donating a few Gwei if you enjoy my charts and find them helpful :) 0xf611624408DB83923979Fc2cBd88D6965594fb31

PoorTomTrading Updated 

If BTC can close below the orange trendline on the 8hr candle, we should see further downward price action. If not, we will likely see a small pump, then head back to test the green trendline again before continuing the bull run up. However BTC has also reached the end of a large Elliott Wave and it would be good to see a more healthy, prolonged...

PoorTomTrading Updated 

The move gold will make is quite clear now assuming it is setting up a bear flag at the moment (which looks like it's breaking down as I type this). The measured move lines up perfectly with the lower support from the wick. If we wick off there and closer back above the upper support, I will be going long.

PoorTomTrading

Ethereum is coming back to retest support at around 285, it should lag against BTC as people move from their pump and dumps back in to BTC. This is typical for the end of a run up/hype cycle in crypto. I expect ETH to outperform BTC from then on out during this hopefully massive bull run. Please consider donating a few Gwei if you enjoy my charts and find them...