ETH looks very heavy and the bounce that it managed to pull off from 34 weeks WMA (white) is very weak and if the WMA doesn't hold and the market closes below $220 on 4H basis the fall may continue all the way down to $50. There obviously will be intermediary stops and bounces on the way. One of which is obvious - 89 weeks WMA currently @ $109.
https://www.mql5.com/en/charts/7622703/ethusd-h4-simplefx-ltd
Addon: Finally, we have a strong reaction @ $200 round number that should change the technical picture.
Finally we have a strong reaction @ $200 round number that should change the technical picture.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
going up?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Do you give any credibility to the rumors about PBOC looking to ban all crypto exchanges although it was never officially stated? i know this analysis here is from TA perspective but wondered it these outside factors could also be having an effect since it has been all over the news lately. Thanks for your insight.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I know as much you do but modus operandi of all markets is always "buy the rumour, sell the fact". In this particular case it is vice versa.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
A reaction that your TA didn't see coming. You were saying we are going down to 50...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Keyword: IF
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
$115 is probably more like it. This is all contrived by the big boys...they can usually steal the money and manipulate the market. Which they are doong to a certain extent but im emboldened by the fact that the big boys want their piece and the only way they can buy in with a big enough stake is to lower the price. So if we all cam live without fear we cam also buy in ay reduced costs
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I don't use arbitrary numbers. All my targets have been derived from volatility.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks. Can you provide any more info or lonks or diagrams....Im more so a feel investor But I recognize my need to trust raw data. Any advice you have on being abke to predict or forsee the market is appreciated.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
A strong bounce off 89 weeks WMA (currently @ $109) is highly likely. But from the implied volatility point of view, it doesn't look like it's the final destination.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@srezz just to be clear you're saying that if certain conditions are met the price could fall to $50?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I've done it in English but let me try it in Chinese:
ETH看起來非常沉重，從34週WMA（白色）下跌的反彈非常弱，如果WMA不持有，而市場在4H基礎上收盤低於220美元，跌幅可能會持續至$ 50
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha love that! You made me smile on this red day :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
LOL I didn't want to make the wrong assumption as I know very little about TA and the price of $50 seemed amazing low so the comment was more out of shock!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Comedy = up votes :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well... it did close below 220USD. The thin red line is probably 25USD/day. Would that be sort of the expected rate (approx, average)? Or is it used only to estimate the crossing of the WMA and that 220 limit? Just trying to learn.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wrong assumptions lead to wrong conclusions. What is the basis for your "thin red line"?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Of course they do! And... none: in the graphic there is a red line, going downwards with time, that is thinner than the horizontal red line. It seems to be extrapolated (to call somehow) from the blue WMA.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The red line that you are talking about is trend resistance line. When the price closes above it together with closing above the red thin horizontal trigger line - that's the "buy" signal.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@srezz: you're talking about closing price but at which moment?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I post 4 hours and daily charts. So, 4H and daily closes based on GMT.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is now almost hit your WMA34 target. Should we expect price goes lower than 100?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nope. It's heading back up to the $240 level. Support at $200 was too strong.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
well, we've bounced quite strongly off the 34WMA and have cleared the $240 level. i've got $257 on bitfinex and $260 on Gdax. Are we strong enough to steady the course up at this level?
BTW, Srezz - thanks again man. You nailed this dip. You need to list your addresses for LTC and ETH. I owe you, bro!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Truth is we don't know. Support was great at 200 and bounce was equally great. But you never know that creates an equally large profit taking opportunity. Think about it whales won't hold all of sudden they take large profits. 60 dollar increase a coin is hell of a profit when you bought 500+ eth. So we will find out. I expect one more profit taking dump and then steady rise.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit