How confusing ETH/the whole crypto market can be these days?
Personally imo*, and by the way it looks for now, this is highly likely to be a falling wedge(I repeat HIGHLY likely!). This would be a good long shot at ETH, with a possible stop-loss, if and only if the bottom channel of the Falling wedge is decisively broken(Great risk/reward shot here). Why would this be highly unlikely? Due to the number of times in the past few weeks, ETH has been respecting the said channel(red rectangle areas). I do think however, that this is a typical whale play in order to tap out/Stop-loss all the weak hands, before the price can move up. The current channel that the price is moving in(unless there's a breakout on D-the falling peaks pattern drawn on the graph), it just does not make sense that Etherium , would move more down and follow the falling wedge bottom channel because it would take quite a long time to reach the next ret/support 0.93 at 388. And this would just be a falling wedge inside a falling wedge, which should have a massively bullish outcome. Pair this with the recent uptrend in the BTCUSDLONGS , and the fact that etherium has been in the past few month alwaays a step ahead of btc , I'm definitely long this time on etherium- playing in for the bull trap.
Overall, if the week ends with a green candle(above 454), I'd see a good probability of a bullish reversal and a breakout out of the falling wedge(Targets 586/714). This market is not dead, yet.
Do comment your thoughts, additions or critics, as this is quite a critical time for etherium. -Happy trading folks- . . . . Disclaimer: //This is not a buy or a sell sign, you decide what to do with your own money!// If you liked my take on etherium, or other markets, agree or follow for more interesting ideas, it's all very much appreciated, cheers!
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trustnodes.com/2018/06/26/eos-now-100000-eth-left-weeks-selling 0x36AbD00fbD34900e056C7e986B501BbD55554C0C For those of you who have missed out, I'm here to cover for you. I did double check the info given in the article and it all checks out, EOS now only holds this amount of etherscan.io/address/0x052af704cb04d7042507c263908ab2fcc6023709 ethereum, which is nothing compared to that EOS was holding over 2 million Ether, couple of months back. This does explain the unusual no bounce on E bear trap(expecting a lot of buyers/bounce>>unload all the supply).
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A daily update. Good bull wicks, end support around 388/400(psychological support). Expecting some good price action during the weekend.
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Midnight update. Falling wedge channel line still getting respected by a large margin. The last update somehow did not work, this one's more detailed anyways. EOS sell-off by this point(since it's Friday such selling operations hardly happen on the weekends), has most likely died off, or it's about to.
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Main outtake from this is the angle(right now the price is playing along side it). And the double bottom idea it's just fooling around, even though it has quite a tiny possibility, it's not not doable. Looking at the economic figures today(Q2 GDP mainly), they're quite quite good, and in an huge uptrend. So I do not see yet a selling flag in ether, at least not this following quarter(trade war factor we'll see how that plays out). I plotted the double bottom pattern, since most/all of the current "biggest" ether ICO's, have sold-off their ether holdings, however Ethereum is still the key for all of the new ICO's coming to the market right now, paired this with the good economy I hardly, hardly see ether going down, and if it does(bottom @200) I'll buy some more. -Happy Trading-
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BOOOOM! Easy. Parabolic breakout, should be going side weaves, to reset it's indicators. Taking long position still looks fine as he*l though.
29/06- Breakout starting 22:00(UTC)
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*Typo: Ways* not weaves. 30/06 Morning update. Looking good, both in volume and price action. Magic number for a possible bullish reversal, 454(the week ends green). It's all in the chart, not much that can be said.
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Target reached, 10% up, waiting for a bullish breakout above "breakout confirmation zone", didn't do a chart for ethereum but it's basically the same, and I'm pretty much following both bitcoin and etherium if I'm about to enter a position, so it's pretty relevant.
every market is manipulated, I ve been saying this, the banks are in buying up all the coins who do you think is buying when you are selling,
Never sell just keep buying
step_ahead_ofthemarket
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@ESSCRS,
Only way to make money in this game is to play dirty/manipulate the market, else it's usually just a 0 sum game