ETN Technical Analysis Society

Yep whoops :slight_smile:

I don’t want to cause any sort of FOMO…but, zooming in on the 1 hour chart, ETN has a beautiful bull flag at 75 sats. HOPEFULLY it confirms. If it does break bullish, the target is ~86 sats which is in the red area of resistance.

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How does it confirm… by breaking up as it comes out of the wedge, or before it comes out?

I know things have to go up, down or range sideways but is there such thing as a percentage up/down with these bull flags?

There’s two thoughts to “confirmations”

  1. If it breaks and closes a candle above the resistance line

  2. Same as 1, but it comes back down for a retest then continues up

But, #2 is more prevalent when breaking a horizontal line of resistance. Flags typically just break up and go before forming the next pattern.

We seem to have a Mexican stand off right now… who’s gonna blink first?

Indeed 5+ hours of horizontal movement, so it could go either way, hopefully it breaks 75 as that seems to be where its stuck.

I don’t think we have enough volume to break 75

In fairness we didn’t have a lot of volume this morning when it broke up.

Does this seem like a rejection or too early to call? If rejection is it back to the previous support around low 60’s? Or… is this a slight dip before we break up!

I think the little pullback is a decent time to enter a trade. You can set your stop loss pretty tight cause I believe if we break the .618 level we likely go lower. And if we continue from here it looks pretty good short term. Also BTC Dominance is dropping since a couple of days. Possibly we get a spike in dominance dropping that will fuel most alts.

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Out of a bull flag into a diamond, (sort of) formation. Does this mean anything… other than a shape - obvs?

In fact… is this more of a pyramid?

What platform are you using to leverage trade ETN? We’ve broke the 0.618 already. What low are you using to use your fib???

Weekly or daily chart. I only trade ETN on kucoin. No leverage.

I only ask as you say use a stop loss and you don’t use that unless you’re leverage trading.

Shouldn’t the last swing low of a big pump be the starting point, when using the fib?

You should always use a stop loss. No matter if you’re on leverage or not. My opinion.

Shouldn’t the last swing low of a big pump be the starting point, when using the fib?

Its subjective. I always use the point where the move or change in trend started. This gives me the best results. On the weekly its pretty clear on the daily and hourly there is also other points that would make sense.

I have my swing low on the 5th of May, but I can see the weekly swing low is also valid. It’s just on the daily chart, we had two maybe three fib retracement moves.

If you’re not trading with leverage then you’re just buying ETN (Spot Trading) How is a stop loss used when spot trading, I’m confused sorry.

Well you either manually sell or put a sell stop order.

So when you say stop loss you actually mean sell order, gotcha.

No he means pump it! Lmao :joy:

Will we double bottom? Or W from here? ETN is being squeezed and is struggling to get above the 13 EMA, if get above that, great. If we can make a new high and stay above 77 sats, even better. We are losing volume, so hopefully the buyers step in here and not the sellers.

I’m def buying 46-51 SATS:

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