ETN Technical Analysis Society

CryptoMatt · April 7, 2019, 7:29pm

Inverse Head and shoulders formed on ETN chart. Bullish sign. Trade open. Lets see how it goes

grafik

CryptoMatt · April 7, 2019, 7:34pm

A little better picture on huobi.

Cryptoman976 · April 7, 2019, 7:38pm

yuck…declining neckline is a weak H&S pattern…but it would line up with the low sentiment and low price overview. It really has no option but to go up unless it just dies all together. But…if BTC shoots up, which it could, ETN could definitely drop further in satoshi value…but the USD price will remain about what it is now regardless.

CryptoMatt · April 7, 2019, 7:49pm

Well there is always a risk. And my stop loss is at the bottom of the pattern (little lower). I think its worth the risk at these levels.

We didnt have any strong patterns like this since the decline. Also look at the volume at the right shoulder. Its decent.

Cryptoman976 · April 8, 2019, 2:39am

Following up with my post earlier above ETN Technical Analysis Society, we did end up breaking bullish as I was expecting, but now we are starting to hit the first area of real resistance. We touched it and came back down a little causing a wick. We’ll see how this plays out on double dip Monday. I’m anticipating a retracement…but with how things have been going, no one really knows. If we blow through it, we’ll be at 6k in no time.

EDIT: With the increase in BTC USD value, I fully expect the satoshi value of ETN to retrace…but it will still have slight gains in USD value.

KarEnTam · April 8, 2019, 4:28pm

Short’s gone down…last time they dived, BTC shot up 1k…

CryptoMatt · April 8, 2019, 6:27pm

Yeah that is really awkward to see such rapid drop. Could be some form of manipulation though. I dont know exactly how those numbers are generated.

JonneHex · April 8, 2019, 6:38pm

liky liky

MUENORTCELE · April 8, 2019, 6:56pm

Looks kinda like an uptrend.

Moonman · April 10, 2019, 1:03am

ETN on 4HR

Oscillators and price trending upwards overall. Not much else to say.

Tika · April 10, 2019, 7:20pm

What doe you think will this sequence repeat itself?

CryptoMatt · April 11, 2019, 6:28am

I think ultimately we should see a retracement. But in the chart you can still see some strength.

These wicks to me look like there may still be some bullish momentum left.

grafik

CryptoMatt · April 11, 2019, 10:53am

I’m currently looking at different scenarios for the bitcoin dominance, since today or tommorow we will see if BTC dominance wants to drop lower or not it could have major implications on whats best to do with altcoins at the moment.

Here is my idea, assuming we break the current channel. However the second scenario would be that todays candle becomes a fakeout and we break down right now, which could start a new rallye in alts.