I am neutral on this one.
eth/btc 4 hour
-recent bearish t-k cross under cloud
-50-200 on 4 hour looks like its going to cross and go bearish - We can also expect this to be manipulated such that it does not cross, but that would require billions of USD in capital. It is possible, I've seen it before with eth/btc. Likelihood: medium-low is my opinion.
-price below cloud
4hour stoch rsi - 3.29/10.251 (oversold)
4 hour rsi - 31.3326 - (nominal/almost oversold)
News events - nothing significant (bearish to sustain current price levels)
Other technical indicators - Well it shows more bearish, but inverted H&S potential breakout. I supposed this would line up with 1D, 4h and hourly. (bearish but potential huge reversal)
On the otherhand-
1 hour stoch rsi - was oversold (bullish)
1 hour rsi - hit oversold (bullish)
The 1 hour says ETH/BTC has gas for a decent pump.
4 hour says it should have dropped a bit more.
1 Day says its been ready for a long.
Ok, so in my complex view I see ~.093 and ~.0867-.087 as short targets. Entering a short below 200 EMA carries a high risk, I would go neutral or wait it out. There is nothing imo that is really bullish news for ethereum. Most ICOs are crap. Investing in token layers (subset) vs protocol layer (superset) is stupid imo.
I would also say that one can also enter small long trades if they wish. We've already seen it goto ~.125 after a cloud crash.
OR
Lowest risk to me would be a short around .12 to .14 when hourly stoch rsi and 4h starts to run out of gas. Meaning they start to hit overbought levels.
I expect support to be found around .087 to .0925 even if the big 4hr - 50-200 goes bearish.
eth/btc 4 hour
-recent bearish t-k cross under cloud
-50-200 on 4 hour looks like its going to cross and go bearish - We can also expect this to be manipulated such that it does not cross, but that would require billions of USD in capital. It is possible, I've seen it before with eth/btc. Likelihood: medium-low is my opinion.
-price below cloud
4hour stoch rsi - 3.29/10.251 (oversold)
4 hour rsi - 31.3326 - (nominal/almost oversold)
News events - nothing significant (bearish to sustain current price levels)
Other technical indicators - Well it shows more bearish, but inverted H&S potential breakout. I supposed this would line up with 1D, 4h and hourly. (bearish but potential huge reversal)
On the otherhand-
1 hour stoch rsi - was oversold (bullish)
1 hour rsi - hit oversold (bullish)
The 1 hour says ETH/BTC has gas for a decent pump.
4 hour says it should have dropped a bit more.
1 Day says its been ready for a long.
Ok, so in my complex view I see ~.093 and ~.0867-.087 as short targets. Entering a short below 200 EMA carries a high risk, I would go neutral or wait it out. There is nothing imo that is really bullish news for ethereum. Most ICOs are crap. Investing in token layers (subset) vs protocol layer (superset) is stupid imo.
I would also say that one can also enter small long trades if they wish. We've already seen it goto ~.125 after a cloud crash.
OR
Lowest risk to me would be a short around .12 to .14 when hourly stoch rsi and 4h starts to run out of gas. Meaning they start to hit overbought levels.
I expect support to be found around .087 to .0925 even if the big 4hr - 50-200 goes bearish.
הערה:
Best advice I can give is wait to see if the 50-200 cross actually occurs on 4 hour or not. The 1 hour shows its running out of gas, but 4hr and daily says it can pump.
הערה:
The 50-200 on 4 hour crossed and went bearish. rsi and stoch rsi for hourly, 4 hour, daily say this thing has room to go down further. I suspect .0925 (poloniex) or even .0865 (target 2) for Poloniex. Another thing is we may be seeing a falling wedge to reversal pattern. ETH/USDT basically shows the same, I expect some more drops, but lots of supports popping up. Trend reversal may occur in the next few 4h candles or days. A good signal would be a significant Ethereum event (there are none currently).
עסקה סגורה: היעד הושג:
targets have been reached. closing this trade idea, but opening another short idea.