I want to follow ETH on this frame. So I wanted to create an idea. I see multiple huge structures targeting $700 on ETH.
I'm not sure if I would buy or long ETH around there but I'll stop shorting at least. I would probably choose BTC over ETH to trade with a bullish bias.
I'm not sure if I would buy or long ETH around there but I'll stop shorting at least. I would probably choose BTC over ETH to trade with a bullish bias.
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If $700 can't hold:
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TOTAL chart. Will it hold? I would say no.
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I like this bigger view:
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And a curve. I like curves :D
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The curve is really exciting. The price is squeezed between the trendline and the curve.
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Look at this. A breakdown might be really deadly.
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2017&2020 closes ~740.
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ETH/BTC:
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If BTC can reclaim this, we can go for a UTAD. The problem with the range is that the support was broken but it did not sweep the lows.
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Update. Rejected.
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Curve update. I like the shape of the rejection as a bear.
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Quick S&P outlook:
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If I was a Japanese trading BTC, I wouldn't like this:
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BTC trying to break hourly down trend. ETH is pushing the curve. Let's see. Time for bears to defend.
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Almost no space left :D
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It's a bullish thing if it can break it convincingly. Although I think best it can do is a UTAD in the big range.
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Maybe it's already broken. It's hard to fine tune these curves. I should probably code something for this :D Like a curve fitter with some hyperparameters.
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It's really trying but I don't understand why should we bounce from the middle of the channel to be honest. It feels so manipulative.
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If it breaks out:
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A clear UTAD would be death sentence.
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Ok let's see what it can do.
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It's still so hard looking at this and expecting reversal.
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Because this is the feeling but let's see.
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Fantasy chart for long-term ETH bulls:
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It's good to remember that this was a perfect liquidity grab. It will be very hard to reach there for BTC even if it's going to try. We can do moe sideways but a move above 17.500 is unlikely imo. Until BTC does some good liquidity grabs to the downside.
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I think this is better. It's broken. I'm just asking where is the pump?
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Feels like this happened unintentionally because the volume is so dead in the market. This kind of breakouts are usually extremely bullish. There might be a problem when it's not.
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Maybe. If I didn't have position I would just DCA in short above 17.100 With a stop maybe around 17.600.
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This is bullish. My short-term bias is about to change.
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I think it might be going now. For 17.100-17.500 range.
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Ok still low volume. But we are definitely clearing some shorts.
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Maybe it's done. A weird type of h&s:
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I'm not sure if we should be bullish about this anymore. Test is ok but it's followed by a failed rally. I mean ok btc dominance is going down but does BTC give confidence to buy alts?
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It's very simple to trade this. Either this is it. Range retest. Or we are going for a more clear UTAD. Wait for sell pressure in that case. Break of an important trend. Or re-entering to the range. It's up to your trading strategy.
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ADA is a good example to a good breakout of a parabolic trend. Although I think the move might be over there. It will probably range.
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Bitcoin is at long awaited range retest.Bitcoin says the last word in this market.
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LFG. Bull market started.
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HTF NASDAQ. I'm sorry but this thing looks dead.
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When I say I'm sorry I'm really sorry. There is a human side of this. A lot of people will lose jobs. I hope it will break out and I'll adjust my trades accordingly but...
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People were calling the bottom here too. The mighty 30k was holding. You know what happened right after that. Real face of bear market appeared just 2 days later.
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Visualized what I'm talking about.
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Importance of VIX.
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It's kinda hard to maintain parabolic trends. And it can get ugly quickly when you can't. But since we are in a bull market, it should be no problem :D
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Maybe.
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Go lil champion, weekly EMA's are waiting for ya :D
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I wanna believe the big falling wedge is bullish on BTC but ETH's structure really worries me. I can't see a good bullish argument about it.
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Get rejected here and you have a chance at the lows, go for a UTAD and you are dead. In my opinion.
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This is not how bullish breakouts are built. Absolutely not.
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This is also worrying:
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There is an optimistic way to look at it. Just like BTC's falling wedge but essentially what we have is equal lows. No stop hunt. And lower highs. That is bad.
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Ethereum is going to 700$.