ETN Technical Analysis Society

Over 0.5 cents but not for long…:hushed: and again under… :thinking:

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ETN $ 0.00447024 -12.00 % :chart_with_downwards_trend:

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It’s some of an downturn we are in regards price, updates and new registrations - well, I’m patient :slight_smile:

Yep, we got rejected trying to get back into the wedge…that is unfortunate…

Edit:

But, ETN just went live in Brazil! So we will see if that does anything…or maybe that pump yesterday was due to that…

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Now this is exciting! Close enough in my view to call a double bottom on price (because of so low liquidity) and RSI hitting oversold and after that this big of a news. There could be some upside for a change.

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Do we have any Brazilian people here?

HOW TO BUY A PREPAID GSM CARD TO USE IN BRAZIL

Look for any Claro store and show your passport. You can buy a prepaid card with credits to use voice and data in Claro´s network. Your GSM handset must be previously unblocked in order to use our services.

https://www.claro.com.br/institucional/international-visitors

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I have a good friend that lives in Brazil, he has signed up to the app and looking into getting more information. :bow_and_arrow::bow_and_arrow::bow_and_arrow:

Confirmed he is with Claro, after watching Richard’s latest YT video.

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The latest bounce (probably caused by etns brazil news) from the .786 area looks pretty nice since there is quite some volume in that candle as well. So the bullish scenario still has a good chance to unfold.

Overall ETN is currently still in bear trend though (till we break ~72 sat area with volume).

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We continue to ride along the underside of the descending wedge which is proving to be an absolute bear to break through. But the longer we continue to chip at it, the more likely it will break and we’ll go up.

Volume has gone next to non-existent since the green candles which tells me we will have another big move coming, soon. With the news we have received, it should be in the upward direction, but this is crypto…you just never know.

RSI is at 50, which is perfect. We could go either way, but a neutral position is a good launch pad.

MACD has the lines pretty much touching showing another indication that it could go either way (which is probably why the volume is so low…bots and people are waiting for others to make the first move.

I personally believe we will see upward movement soon, but we’ll see. Exciting times ahead!

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The sell wall on Kucoun is real…someone doesn’t want ETN going up.

Screenshot_20190808-094511_KuCoin

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Those sell orders have been sitting there all day. No TA needed to see that in short term only way is down if those are not broken.

Edit: it would be pretty bad in terms of price if they decided to dump instead of just have the wall at there. But on the other hand it would could be easier to go above after that.

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Well, we are retesting the lows and will possibly break lower. Sub 34 sats.

BTC broke out of this super clean symmetrical triangle. Perfect trading opportunity for anyone who took it. Target not yet reached.

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Double bottom in the making?

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A double bottom on the weekly would actually be really nice. If we dont break lower there is a chance. I was writing about it some time ago already.

Bitcoin is just dominating at the moment. Maybe we have to break the ATH around 20k$ for alts to slowly start taking off as well.

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didn’t check weekly…but damn…its red :smiley:

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Yeah I recently changed to heikin ashi candles. I prefer them for trading now.

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Just remember to check out things with normal candle sticks before executing trades. Moving averages and RSI and everything is a bit different on heikin ashi :v:

*I recommend to check out BTC on monthly with heikin ashi. It is amazing! :smiley:

Major sell walls are now gone on Kucoin. Pretty much clear way all the way to 50 sats if there are serious buyers coming in.

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Kucoin 8h chart: (EDIT: Replaced the screenshot with a fresh drawing that is more accurate and took out all the indicators that were showing nothing but neutral indecision)

ETN has worked its way back into the descending wedge after falling under ~week ago thanks to the big buy volume you see at that time. Unfortunately it was not enough volume to break us through the wedge top resistance line. We have since dropped to test the .786 fib line, which did not hold. But the wedge support line has. Now we are fighting to get back over the .786 line in hopes to use it as a support while approaching the wedge resistance line. If we don’t get over the .786 line I fear we will drop as it will prove to be too much sell pressure once it converges with the wedge resistance.

Overall volume is very low, as has been the case for a while. It won’t take much to move us either way.

The MACD is as flat as I’ve seen on any coin in my time doing amateur TA. It has a ever so slight buy signal right now…but overall it’s a coin toss.

As with the MACD, the RSI is sitting at the exact neutral 50 position.

Overall assessment, the bulls are confused. The bears are confused. No one seems to know what they want to do and are simply waiting to see what happens with BTC and the ETN project overall. I’d say it’s a 50/50 game right now in terms of which way the price will go, but I’m sill bullish based on project news and what’s happening.

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