ETN Technical Analysis Society

Bitcoin appears to be fulfilling a cup and handle formation at the moment and from the neck line to that messy bottom, it’s about 20%, so that should take us up to $10,500.

If we close above $10,500 then 14k is the next target. I personally think we’re due a pull back, to around 7800.

So if we do top out at $10,500 the Fibs retracement level of 0.618 is always a good pullback level and if that does happen, then it would look like the start of a second shoulder of an inverse head and shoulder formation.

Bearish divergence is starting to appear in the lower time frames and the stoch RSI is topping out, but that’s not always 100% correct but it’s there.

As for ETN, the fundamentals are huge, potentially massive. At the moment if you want to buy crypto, then having a bank, transferring funds to buy btc is literally the only way. ETN will be a secondary gate that’s easier to open. I think we’re so lucky to even know about ETN and it’s potential with the price being what it is? I just can’t buy enough, grrrrr.

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Just another view, I count three fractals. Lets see if this will continue?

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ETN keeps tumbling down.

Depending on how the day closes we just ignored the last bit of support and are heading towards a new all time low.

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Gotta post an Update since we suddenly see Volume coming in right at our last support level.
Here’s a quick trade idea with a super low risk. Pretty much just sell if we dip down again and use our previous support and reistance areas (1 and 2) to sell the biggest amount of your position Hodl the Rest.

This is the 1 hour chart. As we can see when we broke under our last resistance probably some stop losses have been triggered and we got some volume candles on the hourly. But someone used that opportunity right after to buy etn back up.

I think that is a trade opportunity. Ofcourse it also makes sense to wait for confirmation.

What do you guys think ?

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I agree on hourly. 8 hour candle close coming this hour I’d like to see us close bullishly engulfing

You should put up a pic of your 8hr chart

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Its pretty much the same.
I like to look at the 1 hour or even lower timeframe when I buy into a market.

After the initial buy zooming out again.

ETN /BTC 8H

Edit:
I also want to add the BTC Dominance daily chart that I took into consideration when posting my trade idea. If it wouldnt look like this I would never buy based on this chart.
But BTC dominance is declining which means money is flowing into alts right now.

BTC. Dominance Daily Chart:
grafik

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Hour by hour we’ll see what happens, we are sticking in support for now.

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ETN just shot up 44% then dropped, but I didn’t see any change on the BTC and ETH charts?? What the douse?

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It’s probably someone accidently putting a market order and wiping the order book.

It can be a bullish sign that new investors are entering the market.

ETN on the daily still looks good. Lets see if we can continue to bounce.
I’m pretty bullish short term about this and it has been a while since I was bullish last time on ETN :lollipop:

grafik

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We are making higher highs and higher lows.

So far so good. Buit I wouldnt be suprised if we retest the lows again. It would even be really nice to see some kind of double bottom on the daily chart.

ETN/BTC 1H Chart
grafik

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We did see some pullback and now holding at support for now it seems.

Thoughts?

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Not much to say. I we fall lower than the bottom I dont see a trade anymore. If we find another support at or around the bottom and we ultimately make a double bottom on the daily I’d stay bullish.

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Looking good so far, seems we bounced off that support

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Yes seems like ETN respected the .618 % level again.

But what we really want to see is a break of the neckline around 40sats and possibly some volume.

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We broke the neckline of our W pattern on the hourly. First sign of reversal is in.
Buying in now would be reasonable. Waiting for the next pullback is the lower risk option.

Stop loss can be either a little under breakout or under the W pattern. I personally like to put it somewhere in between where I find most support within the pattern.

Personally waiting for the next pullback and also want to see how the price developes taking volume into account.

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Hi Peeps… registered and verified on the BiKi exchange. Apparently the only trading pair is ETN/USD. Never traded against USD before, is there anything I should be aware of when trading this pair?

TIA

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Put buy order way under price and sell order way over the price. Low liquidity pairs oftentimes have price spikes.

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Not any analysis today, just some random USD charts that looks increasingly nicer according to me.
I think that BIKI Exchange has the potential to become ETN’s new #1 exchange,
As not only does it seem to be an incredibly serious exchange, it also has good traffic with many concurrent users aswell as Binance levels of volume. ( Since everyone everywhere in the space only validates projects wether they are listed on binance or not ) I think it is important to know there is other very well suited alternatives, even better depending on what the main goal is.

So I’m truly excited to see the coming weeks and months development within BIKI.

Anyways -> to the charts I mentioned.
1 full year of price action. Seems we’re pretty flatlined and pushing into the first major resistance sat at 0.004$ a fair 3 times. Looks very nice to me.

Summary

3 months chart we have pushed into the resistance twice without success, but not with failure either. Looking good.

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Again a 1- Year chart and as more clearly seen here we’ve had 3 tests on the resistance level, with each and every one of them getting increasingly higher above it after failing.

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Half year chart - just for perspective.

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90 day chart - This is where it’s starting to get interesting as seen we have been trading within a downwards channel and we just now a couple of days ago came into contact with the support regions with volume stagnating on the lower sides, so I’m currently on the lookout for bigger movements from this point forward.

Summary

Here comes the more fun parts 60 day chart is clearly evident that the downwards channel is coming to an validation point of price action. as said above volume has stagnated on the lower sides as we came into contact of the supporting price level. Very intersting.

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Again, even further fun parts of this text - And at last a 30 day chart - Just so that one can easily see how we have maintained the downwards channel with fairly good volume up until the point where we hit price action support levels, where volume instantly came into a halt. Definitely keeping my eyes open right now.

Summary

Key levels of price action is the same as I mentioned many many months back. 0.0037 ~ is obvious support, and 0.0040 - 0.0044~ is the obvious resistance we will have to break above. Time will tell what happens, but I would be surprised if we get rejected at 0.0040 ( in the case of us retesting it again. )

Thanks and take care, I find this chart extremely exciting in the current days especially with all of the massive background noices from deep within the company.

Not financial advice,
Regards

*edit reasons - spelling corrections

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Thank you for the update info.

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How do we know we will be a low liquidity pair for this exchange aswell? :shushing_face:
Jokes aside, honestly very good tip.
Though, since this will be a hyped tradingpetition, I do believe that during those times there will be quite high liquidity. Doesn’t stop this exact mentioned thing from happening though, so in hindsight exceptional tip that I have thought about many times without ever doing… :smiley:

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