August 16, 2018 at 9:12 am #18094
September 27, 2018 at 1:14 pm - Views: 2724 #18209
Taking a quick look at the Ethereum markets performance against Bitcoin. There was some good buying pressure and shorter term bullish movement was created, however resistance is solid at 0.037 btc and we saw prices retreat to previous support levels.
Momentum indicators confirm the shorter term correction in the market as well as the bullish medium term trend. There could be a possible breakout on the market if the buyers can get the RSI above 50.
Look towards the PPO to signal the turn in the market, with the possible bounce and eventual breakout to play. The increase in volume lately is a good sign for the market, however support levels can get tested multiple times before eventual consolidation above current resistance levels.
I am keeping a eye on Ethereum and I am expecting some good things, should the XRP and BCH movement carry over to ETH. Safe trades.
August 31, 2018 at 10:08 am - Views: 3636 #18138
- This reply was modified 7 months, 4 weeks ago by CheesePuff.
Quick update on the Ethereum market versus Bitcoin as we failed to consolidate above 0.041 btc this week. Prices are now testing critical support, lets take a look at the ETHBTC 1hr chart for a short term analysis.
This is the kind of setup some higher risk traders love to bet on, however please note, i did say HIGHER RISK. Currently we are testing the support zone at 0.04 btc, which can give us a nice bounce to previous resistance levels, or bring new amounts of blood to the market should it fail to summon the bulls.
Resistance on the very near term is around 0.0402 btc – 0.0405 btc, should we get a break above this zone we should test the next level of resistance at around 0.041 btc, as you would remember, our previous failed support zone.
For those wishing to go long on the market I would recommend patience until we get a clear break above the current resistance. For those wishing to short the market, there could be a play, should 0.04 btc fail to act as support.
However be sure to take note of the momentum and price action, as buying volume could cause prices to bounce shortly after the initial drops. Safe trades.August 27, 2018 at 10:09 am - Views: 3556 #18126
After my report last week, the Ethereum market failed to get support in the 0.045 btc range, price action brought us to 0.04 btc where some buyers are stepping in. There is a possible bottom forming here in the market, however we will have to stay above 0.041 btc for this to become a reality. Lets take a look at the 1hr ETHBTC chart.
The market has finally broken out of it shorter term bearish trend, this is confirmed by the momentum indicator as well as the MA cross. I would still be wary of this market and consider most long trades here higher risk, as we are still in the longer term bear trend versus the Bitcoin market.
For the above situation to remain in tact we will need the price action to stay above 0.041 btc on the shorter term, and should this fail to be the case, i would look to another possible short on the market, also higher risk trading in my opinion.
Should 0.04 btc fail to act as our medium term support there will surely be more blood on the market and the possibility for prices to fall even lower.
Should we consolidate and stay above 0.41 btc, you can look towards 0.0415 btc – 0.0416 btc for the next possible breakout in the market. Safe trades.August 16, 2018 at 9:21 am - Views: 3540 #18095
Taking a look at the Ethereum markets which have really taken a beating lately, this is mostly due to a lot of failed ICO’s liquidating in ETH.
This could cause a bit of a chain reaction, however its important to remember that a high percentage of new business will fail within a year or two, this is also true in crypto. Lets take a look at Ethereum, attempting to find some sort of bottom.
My personal view on the current situation, the Ethereum market is currently stuck in this trading range and will be until we get a break, either to the top or bottom. Momentum is bullish for the time being and the MA’s have given a buy signal, however there is not much volume right now, so I would be prepared for a move in either direction.
Support is currently weighing in at around 0.044 btc, with 0.045 btc acting as support on the very near term, also the zone where the higher risk traders are looking to load up for the possible bounce. Personally I would recommend waiting for the resistance at 0.046 btc to fail, check the price action, and should we consolidate above this zone, grab a bag of ETH for the leg up.
If the market fails to consolidate above the current resistance we will retest the bottom of the channel that I drew on the chart. Safe trades.
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