Barring any radical announcements (and I am not even sure they would help with all the focus on BTC…unless the announcement is ETN would be added to BAKKT), I see a continued drop going as low at ~18 sats if BTC dominance continues to rise and sustain.
I’d better get creative with my fiat gaining then. If ETN hits 18 sats i’m going in hard.
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No prob with 18 sats if btc goes go 100 000 :))
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At that point there would be so much new money in crypto looking for something else to put their profits from BTC to grow that it would be a miracle for ETN to stay this low in sat price.
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Basic descending wedge TA. I’m only bringing this up because volume is lower than low and ETN is nearing the tip of a descending wedge and is due for a bigger mover one way or another. When volume becomes non-existent, it is a precursor to a big move. The question is which way will it break?
You can never be certain, but the odds say there is a 68% chance of a break up from a descending wedge. I have another possible wedge support line (dotted yellow), but that is unconfirmed with only two points of contact. However, if that does get confirmed by a drop to around 22 sats, then we have a longer descending wedge pattern we will have to wait out where the absolute bottom for the larger descending wedge is ~15 sats. That doesn’t mean it can’t go lower than that, it’s just the bottom for that particular pattern.
EDIT: There are a number of other wedge support lines you can draw without the wicks as well. No matter how you draw it ETN is in, or close to, the tip. We should see some movement…soon.
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Very nice. This seems to be a possible scenario.
But you shouldnt forget that 2017 was really insane. And alts have never been as overvalued.
So I believe we probably will see an alt rallye, but it probably wont be as strong as in 2017, where some coins went like 40x in 2 weeks against BTC.
Current BTC Dominance (Daily chart)
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Yes, that is one heck of a long bull flag
What do I see at this chart then?
Just some confirmation that something have to happen, just look at this divergence on the daily chart, and I know it is long overdue, but seeing this, it surely means that the upside is more likely than the down?
AND the squeeze is on, the wedge is getting smallllll?
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In my opinion we are still just bearish on ETN /BTC.
What we need is big volume or at least rising volume over a longer time.
I dont see any buys still.
Looking for something like this:
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Possible breakout about to happen, maybe, possibly???
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LMAO I am here waiting for the smartypants people to say something too!
We all know the timing on these things are nigh on impossible to predict, BUT, with enough volume, (which I have no idea if we will get btw) then the signs are good - low coin availability on our main exchange, great news on the miner numbers and lots of impending major announcements. The pathway seems clear but will the volume come, OR is this another fakeout by the day traders - we shall see!
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There is someone who shall not be named here claiming to be working with a group behind the pump on Twitter. I am hesitant to buy into the idea, but what do I know? I would of course prefer that not to be the case. Don’t want pump and dump, want steady stable rise.
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At this rate we are minutes from crossing 200k volume.
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50m+ on the daily atleast I’d say, but the market should technically be quite sold out right now so semi low volume could potentially suffice.
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I know many people rely on volume as an indicator, for me not so much, Ellieot wave patterns is my map 
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