This is the Fourth Short chart i have posted in as many days however i am simply backing up my game plan and analysis of the current market situation, with eth being one of the strongest coins during april it is a good base for market wide weakness - being a large platform for ERC20 projects.
The yellow boxes are clones of each other and the Rally from the previous correction; which shared a similar velocity; lasted the same time as the one we have just been in. Could it continue with upside? if we hold .070 and above then yes, anything is possible in crypto. Otherwise with a breakdown of price here and BTC trading at a premium; i see this chart playing out quite well, and will be looking towards a downside entry point of .035 Which is conveniently 100% away from current bounce levels.
The blue squiggle is just that, a blue squiggle; for rough buy in point further down the line, and the end of yellow box should land on a nice fat red 3D dildo, possibly shaking a considerable amount of late buyers from the market and triggering large short positions, voila we have a snowball
To reinforce the TA i used 1D candles to check for price exhaustion; this was the exit/saturation point. Looking at the RSI there is a clear bearish divergence of higher price and lower impulse between cycles which makes me more confident about this potential setup.
we shall wait and see where the market takes us. Enjoy.
Basil
The yellow boxes are clones of each other and the Rally from the previous correction; which shared a similar velocity; lasted the same time as the one we have just been in. Could it continue with upside? if we hold .070 and above then yes, anything is possible in crypto. Otherwise with a breakdown of price here and BTC trading at a premium; i see this chart playing out quite well, and will be looking towards a downside entry point of .035 Which is conveniently 100% away from current bounce levels.
The blue squiggle is just that, a blue squiggle; for rough buy in point further down the line, and the end of yellow box should land on a nice fat red 3D dildo, possibly shaking a considerable amount of late buyers from the market and triggering large short positions, voila we have a snowball
To reinforce the TA i used 1D candles to check for price exhaustion; this was the exit/saturation point. Looking at the RSI there is a clear bearish divergence of higher price and lower impulse between cycles which makes me more confident about this potential setup.
we shall wait and see where the market takes us. Enjoy.
Basil
הערה:
ETH staying right up there at the moment and killing it against BTC. If we break through .075 resistance and it turns to support i will be closing the position as we will be confirmed bullish for another leg up.
הערה:
Eductational Witchraft from the Tacosaurus
הערה:
pretty crap call here ill be honest, jumped the gun too early!
עסקה פעילה:
lets go!
הערה:
correlating this chart with my eth megacycle gives me confidence to SODL that ether. candlestick dailys and any other timeframe make me want to fomo which can only say one thing ... moooonipulation
עסקה סגורה: היעד הושג:
Currently Holding spot with minimal exposure, The trade played well and You could have closed positions accordingly on the way down to secure profits. we are currently flirting with the .040 level and i have areas in mind buy orders could be set for a corresponding low risk long position, the 0.35 is close but support is being held so taking profit off the table here is a wise move in anticipation for a wider swing to the upside. here is a summarizing chart; and i will follow up with a link to a new long chart including the entry zone set on the snapshot in the upcoming days. This TA also co incided well with my ETH megacycle educational idea; and i plan to continue studying the pair.
הערה:
ded
