THE CHARTS ARE SAYING THAT ETHEREUM CAN'T HANDLE IT ANYMORE!

It looks like the people on this platform don't want to learn anything by themselves so they have to watch others to do the technical analysis for them. I must say that Ichimoku Kinko Hyo can look like a very hard indicator to learn, but it's not. Actually by using it you can in just a few seconds pretty much read from the graph everything you needed to know. Please study it and stop consuming bad steemit content. Ichimoku Kinko Hyo works very well in the forex markets and it works pretty stable in the cryptocurrency markets too. It doesn't even matter which timeframe you choose.

This is Ethereum/Tether chart from Tradingview. Timeframe is 1D (day). As you can see the price movements are happening below the kumo (cloud). When the kumo twist happened the Ethereum price failed to 600$. It is recovering, but it is still below the kumo. We can also see that tenkan sen (blue line) is going to be below kijun sen (red line) soon, which often indicates downtrend.

4H graph is almost the same. The price movements are happening below the kumo and it looks like the kumo twist will indicate a downward trend. We can see two green candles, but it just hit kijun sen, which in this situation works as resistance line.

I mean this is pretty much it for a daily and 4H graph. You can also draw some lines to have a better entry, but with Ichimoku Kinko Hyo it is not really needed. I wouldn't actually sell into this because I don't see any point in selling crypto. Cryptocurrencies are also still very volatile so it's possible that what I analysed now will not work anymore in the next few hours or days. If I were you I would just wait for a nice bullish trend to buy more.

I will try to make the lines more visible for you guys later to have the chart more self-explanatory.

This post was made to show you that if you have the experiences you can write a post like this in less than a hour. Making technical analyses need to be quick because in the markets you need to react fast. Do you think posts like this one are worth so much that they have to be in the trending tab so often? The answer is no.

Follow me for more great charts. Steem power rewards from these posts will be used to upvote good steemit content and to flag spammers.

Also don't forget to vote for witnesses. Don't just pick from the top 50, but try to vote for people outside of the top 50 that actually care about the platform. You can also set me as a proxy and I will do it for you. Thank you!