ETN Technical Analysis Society

It’s now 22:00 pm, this will be a sleepless night with finger on the buy button :rofl:

I would too…I just don’t know if 3k is the bottom. It’s more a mental support as a big round number than an actual support. The next actual support is 2853.

I’m still waiting on my last available fiat to hit coinbase pro so I can set buy orders and not worry about staying up overnight with a trigger finger! I just hope it doesn’t hit bottom before I get it! I was expecting it today…but hopefully tomorrow…

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I don’t care where the bottom is as long as we hit it and start a bullish trend. This bear market is just getting old at this point

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the intersection of the 3240 line and the downtrend support is extremely strong. It’s having a tough time breaking through it

We may see a bounce to the neckline and then another push down in a later time frame when the lines aren’t on top of each other.

Currently, the interest in buying these dip is not particularly strong…

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Is ETN starting an uptrend ?
Volume is not confirming it yet, but we are seeing higher lows.

A breakout with volume from this tightening pattern would offer a nice trade.

grafik

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I think with the current BTC situation are trades on ETN very difficult.
I’m not trading with ETN but buy again and again the dips.
Bitcoin looks currently very weak, stands for several hours on the support of 3250 and has very low volume.
It would’t surprised me if we see a dip in the psychological zone 3000 and maybe a test of the next support of 2850. What i hear is that a lot of people say we already see the ground but the buy orders say something different.
I’m not a ta pro, maybe @Cryptoman976 can make a ta analyse :blush:

Nothing has changed since the BTC TA yesterday. We are still at the same level of 3240 holding a very strong area of support. We had a fairly strong sell push yesterday to try and push the price to under 3240 but it failed. Now the volume has relaxed, possibly due to seller exhaustion or the bears are holding out for a weaker window.

I would not be surprised to see BTC trade sideways until Sunday or Monday (or even go up to the neckline at around 3340) before making another push down. The intersecting support lines at the 3240 range is simply proving to be too strong to break, but the double support will be weakened over the next few days as the lines move away from each other into two separate weaker support lines that the bears can fight one at a time as opposed to both at the same time like they are doing now.

With all this said, volume is extremely low as it is. There are buy orders up in the 3k-3200 range that are very strong. It is very possible we’ve seen the bottom, but no one knows for sure. All we need is for the bulls to step in and start moving us up. It would not take a whole lot to do that at this point.

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It seems the lines may be far enough a part already for the bears to continue their push. Let’s see what happens…

image

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Everything could happen now. If you look at the hourly you see that we had a head and shoulder pattern, that just reached its target around 32xx$.

its just a guess, but I’d say we find support here or very soon. So I’m still only looking for buying/long opportunities :slight_smile:

Also check out these two candles.
For me these are bullish indicators that buyers are coming.

Well. Wait and see I guess :slight_smile:

grafik

yes agreed…plenty of bull signs that people are overlooking for sure. The bulls are there ready to strike but are slowly buying and waiting to see how dumb the bears will actually be on dumping the price. There’s going to be a very nice beautiful bounce when the bears hit the target price the bulls are looking for. Will it be 3k? 2800? 2400? Who knows. But we are fast approaching that exciting area and am ready for it…sort of. I’m still waiting on my fiat to hit the exchange so I can set my orders.

I just watched Karl’s video from “The Moon” youtube channel for today. This kid is growing on me more every day. He and I chart in a similar way and our outlook on the market is almost identical. He is more of a BTC maximalist but I can’t fault him for that and understand why.

I like the poll he posted and shared on the video with his 2 cent input on it.

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Big moves is coming …

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Just opened the btc chart and its flying.
5min view.

Lets see what happens.

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:thinking::yum:wooop?
Some think its cheap

nice little manipulated recovery…went high enough on the 5 minute chart to hit the oversold RSI level and started trading sideways

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All well and good for a wee while.
Then somebody scrapes 2 billion off the top!
Going to be a wild day ahead!

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… and back down, low volume :see_no_evil:

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And a bounce again

grafik

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Happy Saturday all!

BTC is under 3200 currently fighting to keep its’ head above the 3k water level. Looking at the chart you will see it is simply sliding down the line up support like a child at the playground. It has been unsuccessful at breaking through and falling (although if we are truly going to to to 3k or lower, I’d prefer it just happen already). With that said, we have a long standing bullish divergence with the RSI indicating we should be moving up in the near future, but that bullish divergence has been there a long time…so whenever we do move up, it should be pretty explosive. Any small move up with no follow through should be taken as a temporary manipulated move, so be cautious on FOMOing in (not financial advise, just my opinion).

I’ve been talking about how much force it would take to break to, and under, 3k. There are A LOT of buy orders just waiting for that to happen. Of course buy orders can change in an instant, but until they do I don’t see us breaking much lower in the immediate future. Here’s a snapshot of Coinbase Pro as an example. You will see the support compared to the much weaker sell orders. It really won’t take much bull volume to move the price up significantly…but it will take a whale, or combination of whales, to push it down further.

In the mean time, ETN is holding strong with some mega support at 190 sats. It’s always a good time to buy ETN no matter what the price because in the next 3-12 months the small price swings right now will make zero difference.

Have a great rest of your weekend all!

CM976

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