ETH-USD
ETH dumping to 86$ to start his parabolic runWe all have experienced the indecision recently, which is because ETH has started it's bearish run.
By looking through my chart, we understand that it took 169 days till the MA 200 confirms the trend reversal from bullish to bearish. Also it took 149 days to confirm the bearish to bullish trend reversal.
We all know that ETH second bullish run has ended, but MA 200 has not yet confirmed it. However, it is expected to do so. According to my chart and the 163 day confirmation, the MA 200 trend reversal will be confirmed at 6th December.
Then it will take 322 days until the turning point of MA 200 which will indicate a bullish run, but in order to calculate the price turning point, we need to reduce 149 days (gap between price low and MA 200 low) from the 322 days which will end up in 28th May 2020. That is the time when ETH is going to explode up and break the resistance level and run to 1000$.
ETHUSD In accumulation VERY SIMPLE IDEA FOR EVERYONE TO FOLLOW!!Enough has been said about ETH. ETH is well established now and building up cashflow for growth. Once we break this accumulative range we are heading back up. Price can visit the bottom again easily as well as fall as low as the 127 ORANGE LINE. This would give us an INV head and shoulder formation for the long run. Or ...we get an impulse correction impulse without breaking the low giving us an ABCD pattern with an E pullback for a run to 475 - 500 zone. As I stated in my BTC post. ETH looks more and more like a basket of businesses and the value grown within raises the price.
How many people are building businesses on ETH??? We know they are huge players with MetLife insurance and thats a massive gain for their growth over time. Can't go wrong here long term! Where are my ETH fans? Id love to have a follower who dives deep with Ethereum to join our collaborative team.
As always trade safe. Manage risk.
Peace. Love. Trade.
ETH short 2019 - 9 - 7.................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Support me, follow and like
ETHUSD Holding Major Support Hello Traders,
Today's chart will be an update on ETHUSD’s recent price action,
Points to consider,
- Still maintaining overall establish uptrend
- Currently testing major structural support
- RSI coming into apex, wedge formation
- Stoch showing upwards momentum
- Volume declining rapidly
- EMA's acting as resistance currently
- Retracement to Golden Fibonacci Ratio .618
ETHUSD is in a interesting situation as it is currently testing its major support level (green zone) which is in confluence with the .618 Fibonacci Zone and the well established uptrend support line putting in higher highs. RSI is closely coming into its apex, looking more like a wedge. Volume is tapering of as price is testing this current support zone, meaning a move is lurking around the corner, stochs showing clear upwards momentum. With so much support in confluence it is more probable that ETHUSD will have a bounce off this support zone establishing a clear higher high in its structure. EMA's will eventually turn bullish if this scenario plays out, yet again another indicator acting as support...
What are your thoughts ? please leave a like a comment
and remember,
"Time is your friend; Impulse is your enemy" - Jack Bogie