Ethereum daily
After the last price spike, ETH managed to break the Kijun and Tenkan resistance levels. Right now we're exactly at the 0.5 Fibonacci retracement from our last run, with a major resistance cloud (red) above us - a cloud that dominates above us since April 13, 2018! Breaking this cloud and turning it green again should mark the beginning of a new bullish trend.
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ETH 4h closer look
As you can see, we're up to something. A symmetrical triangle has formed, with a Bollinger Bands pinch, meaning that there will be some movement soon - usually this is followed by a breakout, but a breakdown should not be excluded. The RSI doesn't quite confirm the price action - we have higher lows on the price whilst the RSI indicates lower lows. If you're about to enter a trade, watch closely for when the price will break either side of the triangle.
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Moving Averages
The 55 MA (blue) is about to cross the 100 MA (red). The last time the 55 was above the 100 was on July 03, 2018! I hope we don't see a hard rejection as we saw with the 21 & 55 MA's on Bitcoin a while ago. However, the bigger picture shows us a big symmetrical triangle building up and a 55 - 100 MA cross will definitely bring some bulls with it. We should see some movement in the following days.
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These are some of the exchanges I use:
(you can support my work by registering via these links)
- Bitfinex - my most used exchange
- Binance - most popular exchange
- Kucoin - excellent exchange, rising in popularity
- Gate - for small cap / new coins
- Huobi - margin trading
- Coinexchange - big variety of coins
ALWAYS CREATE A DIFFERENT PASSWORD FOR EACH EXCHANGE!NEVER HAVE THE SAME PASSWORD TWICE!SAVE THE PAGES TO YOUR BOOKMARKS, SO THAT YOU WON'T CLICK ON SCAM SITES! MANY GOT FOOLED AND LOST A LOT OF MONEY!Thanks for reading and safe trading!ā
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