… and back down, low volume
And a bounce again
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!
I’ll add some TA soon.
For now I’m just watching the BTC chart like it was a movie :D. Who else does that x)
We get a nice little volume spike on our way up. 32xx is very supportive. But if we retest it I believe we will break lower, until then I’m bullish.
Wow, I d better go look at the charts,
Thanks, too busy being positive on the main channel!
It’s time for the Bears to hibernate. Time for the Bulls to come out
When I looked at the ETN BTC 8h Chart, I saw that 200 ma moved downward, 50 daily Ma moved upward. We need a fire
Hi everyone. It’s been awhile since I’ve posted as I’m usually too busy chasing my 13 month old son around to do much else. Anyhow, I had a minute to check the ETN/BTC chart and I have to say I love what I’m seeing.
The long standing downward sloping wedge or bull pennant played out well for us as we broke above and bounced off the top during a retest. The price didn’t spike up in a large way because there hasn’t been any big news to propel it upward. However, we should all be happy with how ETN has been trading since breaking above the wedge.
It currently appears to be forming an ascending triangle which is typically bullish in traditional markets. If the price action breaks the top resistance of the ascending triangle, we may soon see a gold cross. This happens when the 50 day moving average rises above the 200 day moving average. This would be incredibly bullish from a TA perspective. If we are really lucky, the Electroneum team would have some good news in the next couple weeks to complement this beautiful chart.
Cheers and happy holidays everyone!
Golden cross rings well in my stockworld too.
We went horizontally outside the triangle. We ran into a 50-MA resistance. It’s got to be something. It’s a dull situation.
WOOV BTC PERFECT JUMP…I’m waiting for the same jump in the ETN experiment.
What are your toughs about BTC futures expiration? Usually we see some fall in price on that day??
What are your experience?
Here are expiration dates:
I don’t really expect a bull run for BTC before bakkt is onboard.
What is now going on BTC is manipulation.
Big player push the price a little up, buyers come in and than the sell on the top. So you can earn money.
ETN has a much bigger future ahead of us and as we get new announcements we’ll get stronger and stronger.
With our partnerships we will climb to the moon and eventually anytime we’ll decouple ourselves more and more from btc with our fiat exchanges.
That will be our ride to the mars!
It’s amazing what we reached in 1 year!
Happy Monday all, I took yesterday off of crypto completely so I am just looking to see what has happened since my last post. I like what I see and concur with @Moonman on the ascending triangle (glad to see him post again!).
Here’s the Cryptopia chart where yo uwill see the ascending triangle in purple. You can see we are breaking through the smaller triangle with the dotted line resistance as we speak. I fully expect a move up to the solid line to test the 202 line which has been acting as the hard ceiling for our progress lately. If BTC continues to rise we should break through easily.
With all that said, I personally don’t believe this BTC rally is real. It looks to be nothing more than a bounce off the 200 day moving average on the weekly chart which has historically been an extremely strong support. Until we start making higher highs, I simply don’t believe any rally at this point, so be careful and have a plan if you choose to invest! Good luck!
Rapid increase in ETN difficulty. Clear tendens
What are you viewing this on?
investing.com but I do have custom colors setup because the standard white background strains my eyes.
Here’s the Kucoin chart…it’s a bit different than Cryptopia. Looking at Kucoin we are below the support line. where we are still above it on Cryptopia
Cool thanks for the charting.
Investing. Com is a good site too, I just checked it out.
How do you guys think this 3 month chart will pan out in the next 3 months? I find it to be positioned very aggressively for a move! As you can see the moving averages ( 25->125 ) are really panning out quite nicely right now. And we have had 1 month of stable 190~ + / -10 sats we’re really getting tight now.
Quite similar to how it was on the 19th of september when we were at 80~sats.
And a closeup on where we’re at right now.
I just found that we’re building up for something that we have recently seen once again