ETN Technical Analysis Society


#606

Higher lows and higher highs…looking good so far


#607

Hello everyone; Yesterday 205 as I shared in the chart earlier, we had to cross the 205 resistance point, but we didn’t. But we’re still in the triangle and we’re very close to breaking the triangle.


#608

You’re not breaking anything until the bull run. These minor ups and down cancel each other and we have nothing to do but to wait for some real development from the ETN team or another BTC bull run. TA useless at this point and actually in the whole crypto market overall…This is not the regulated stock market, but some big players’ market, which they can control in whatever fashion they like. They bailed out massively, knowing that we will soon see a regulated market in cryptos as well. Whoever had the luck to make some money in 2017, more power to them! As for the rest, just wait, see the market develop as the time passes and maybe have the luck to have invested in the right project.


#609

I agree with you. Mine is just a perspective. We can break it, we know how to crack it. And the result is a bear market.


#610

Hows eFiJy.
Good to “hear” your voice…
I agree with what youre saying.
I agree with just about everything posted in this topic.
Theres many wise words and a stack of good advice.
Very hard to find a clear line of truth in a cut-throat market.
I think a lot are following the sentiment of traditional markets too.
I was just reading the HSBC report…
:heart::heart:


#611

Starting to actually see a few positive articles.

https://www.ccn.com/bitcoin-price-to-likely-avoid-drop-below-3k-as-crypto-loses-14-billion-in-1-week/

Rising buy walls on major digital asset trading platforms suggest that a small group of investors is beginning to accumulate Bitcoin while it remains highly volatile in a tight but low price range.

Zhu explained:

“10% down from here ($3,300), buy walls on @Coinbase are now the largest (in BTC notional ) since mid-2015. Similar for Bitstamp.”

He further emphasized that to break below the $3,300 level, more investors on Know Your Customer (KYC)-enabled exchanges, which are essentially fiat-to-crypto trading platforms, will need to get through the large buy wall at $3,300 and lead an intense sell-off.

If a large unforeseen sell-off is to happen, the daily volume of Bitcoin that hovers at around $4 billion, would have to spike above its monthly high at just over $6.5 billion.


#612

I think if we can trade sideways between $3300-3500 until Bakkt comes online…we might have already seen our bottom


#613

Sh*t. Cnn is positive? That means we go to 1k. D:


#614

Define:Parabolicmy wages this week!!


#615

Regardless of what some may like to believe about TA in crypto I’ve come to find it much more reliable than simply guessing. Those that think it is hogwash simply don’t understand it and I’ll leave that at that because I won’t debate ignorance. Especially ignorance that has proven in many threads to be a negative influence overall.

Looking at BTC this morning on the 4 hour, I don’t get a warm and fuzzy feeling of what looks to be in progress. We have a clear head and shoulders pattern indicating we will most likely drop. With all the resistance overhead right now, the likelihood of that happening is high.

One thing I will mention is TA is not good when it comes to sudden spikes of volume. There is no predicting that. Call it manipulation, call it pressure, call it whatever you like. But, TA can only account for what has happened and base trends off it. It can not predict what will happen, it can only provide likely movement based on past movement.

This is not financial advice, but be careful right now everyone.


#616

@Cryptoman976
I soak up every word you say,
On all your advice.
I hedged up my wages this week in anticipation of the waves DEX going live on mobile app.
I bought the news 5 hours back.
I hope this is what ETN does when it hits the I phone.
Its an extremely unhealthy Rise but bear in mind theres 100 million coins and a shortage of supply.
Losing sleep over getting burned?
Answer: hell yes!
:heart::heart:


#617

I don’t disagree with you or the TA. However, with all of the large buy walls at 3000 and 3300 it’s going to take a lot to drive us below 3300 as stated in the article. The fact that the buy walls have moved and are larger than 2015, to me that feels reassuring. We may see a trend reversal in the time frame we had talked about earlier in the thread (January ish). The bear market may be getting weaker and accumulation may have slowly started…but like you said…who knows


#618

Again, I heed good advice from all on this topic.
Got out ten minutes ago at 20% profit.
Safely tucked away in my beloved Electroneum.
Thanks guys.
All of you.


#619

I completely agree with you. Buy walls are factors outside of the realm of TA as they are variables that can easily move or be wiped out with a determined whale looking to slam the market into the ground like an actual whale falling from a jump in the air and landing back on the water. The water may slow the fall, but the whale will still go under.

I’m not saying we will dip. I really don’t know. Market volume is so low that it wouldn’t take much to drive it either way. All I am saying is if the volume stays stagnant, the bots will act accordingly using TA methods to determine prices.


#620

and we are dropping…Can BTC hold above $3300? :slight_smile:


#621

No, just went under…


#622

Now lets watch this bloodbath
Anyone has popcorn?


#623

Man I hope this is the big dip we are waiting on…


#624

Yes, lets get this over :slight_smile:


#625

3240 is a line of support (I have as a yellow horizontal dotted line in my last pic posted) along with the former solid yellow downtrend I have drawn as well. We’ve touched the intersection of those lines like I drew above and are currently bouncing a little. Based on the head and shoulders pattern and standard TA measurements, we should be going to 3k almost exactly.

Guys, I really do hope I’m wrong and I wish I could agree with some of you that think TA is BS…but unfortunately, that’s not the case as has been proven over and over if you look through this thread. Getting a call correct is one thing…but being correct over and over again involves a little more than luck.