So, we’re still struggling on the upward trending line but maybe we have came into find positive support on the 0.5 fib retracement.
Good to see atleast that we held our sats price on the BTC dump. Very nice indeed.
Not much I can say here, this is a 50/50 market right now IMO.
Based on ETN price action and past performance on news, I foresee a dump as people sell the news tomorrow. I really hope we go up, but if we were going to go up, we would have already with the pattern we are currently in. I could see a drop back into the upper 30s quite easily.
Hope no… that is really strange why with good news we going down instead of up
It has happened every time.
The good news is we’ve broken up from the ascending triangle we have been in for a while…the problem is the price is going up on declining volume causing a bearish divergence.
Okay, here we go. Unless the new country news is overwhelming, the charts are saying “be VERY careful”
Double tops = BAD. Double tops often drop the price to equal where the initial move started, but is also known to drop it lower…which for ETN would be a new ATL.
We have a couple key support areas we would have to break to reach new ATLs. The .618 and .786 fib lines. Those are heavy reversal lines and could breath life into a new uptrend. However, if new country roll-outs aren’t bringing new highs, then I don’t know what else would be strong enough to sustain a rally.
We also have a bearish divergence with increasing prince and declining volume (purple arrows).
The RSI is well over bought = bearish
After putting this all together, it’s almost a forgone conclusion (to me, not financial advice) that ETN is going to go down in price as traders sell the news. The only thing that could make it go up (where the target is 61 sats) is a heavy dose of buy volume. If a new country roll out can’t bring that…then temper your expectations and hodl on.
EDIT: Looking at the Huobi chart it looks even worse. There is actually a triple top on that daily chart right now.
This is one of those times where I wish I wouldn’t have created this thread. Even if what you are saying is correct, I don’t want it to be.
Technically you are right, but even if we drop, it could form into an ascending triangle so let’s not get to ahead of ourselves.
I truly hope I am wrong too. It wouldn’t be the first time all the indicators are saying opposite of what happens.
I have a hunch we continue to climb.
I also had a hunch the Eagles would beat my Packers for what it’s worth.
Lol, I am just happy there was actually a good Thursday night game. But the best news of all is the doubletop has been broken! We broke 50 sats!
Isn’t ascending triangles with same highs and higher lows a usual break to the upside, and a descending triangle with same lows and lower highs the usual down break?
I do agree, we have seen this pattern in ETN’s chart many times and it has failed us quite heavily.
Let me paint some examples…
Ascending triangle -
Descending triangle
I do agree however that in our lovely ETN chart, the ascending triangle formation has as far as I know failed us quite heavily in the past.
Not trying to prove you wrong or right, I just always though that this was the “common” playstyle of these two particular patterns 
Thank you
To be fair, there isn’t even an ascending triangle on the board. I was just pointing out that double tops can actually become ascending triangles which are generally bullish. Yes, they have failed us in the past, but this is the first bullish uptrend of ETN since going to proof of responsibility. I really think that historical trends are now irrelevant.
Yeah I agree with that there is actually not a triangle on the board, simply just 1 top and 1 bottom with continued upward trading afterwards, some pattern still forming I guess.
However, after we started talking about this I went to my chart and played with some lines again.
I found a simularity from earlier in this runup i’d like to pinpoint
I agree with our history becoming more and more irrelevant with everything that has changed in the fundamental blockchain.
Thank you for your input, appreciated!
I just realized that I have probably been using the “wrong” fib retracement point for earlier posts, it still fits though.
But draging the fib retracement from the 72 sats peak to bottom instead gives a much clearer chart I’d say.
Just look at the pitch perfect confirmations of resistance levels and support levels.
If the “triangle” we spoke of above is a true pattern and breakout that would give us a target of 57 sats and 0.618 fib.
I have absolutely no idea though.
My feelings tells me we touch and confirm 0.382 again as we basically hit the 0.5 line just now and we can already see some hefty selling coming in.
*edit worth mentioning is we have 2X 4H candles closed above the upwardstrending red line that I have been speaking alot about.
And remember, I do this simply for fun, I never trade.
maybe if we go down can be “whale” factor goin dump to buy btc it lower price in this month
We broke the 46-49 resistance and heading to next one 69-72 area? so, thumbs up?
It Seems so, at the bear minimum those levels should have some very Nice bouncing oppurtunities!
The clear and common TA tells us that the current breakout target is 57 sats, and if that is a True breakout i personally have high propabilities of 72 sats touch again.
Fingers crossed knock on wood etc 
Nicer to hit 50sats - weak support (expected it to go to 54 not shy of 51, then retrace to 48 which it did, now expecting it to break 60 into the long term uptrend) but I am sure it will grow when next country announced.
Bearish divergence on the daily chart.
I think some kind of correction and sideways movement would be pretty healthy though. Lets see if we get it.
And as of right now, we have another tall tale bearish signal with a shooting star candle (short body with a very long wick on the top). The good news is we still have ~9.5 hours left on this daily wick to recover back to the upside, but from a pure TA standpoint, it is not looking good. If we don’t recover, the best case scenario is we move sideways for a bit.
