I am listening… what do you see on the equivalent ETN charts?
Let me try, on daily chart, possible head and shoulders, double bottom? Bouncing off the trend line, but still in the narrow end of the bull flag? For me I know the Elliot wave 3 is close. That wave will take us to the 1618 Fib, of wave one, which is about 0.0000631?
And in English please, (for us laymen types) Tika
In English, I see ETN to turn upwards, just waiting for some good news or a bit positive swing from something like BTC? In short, I am am possitive!
Am I reading correctly, your expectation is 631 sats with some good news?
0.00000631, yes, wave(3) in action is beautiful, quick, can be a bit higher, but minimum will be 0.00000631,
Can you show us your chart?
What sort of timescale are you talking about, Tika and like 77Gunners, would like to see your charts?
Time? We cannot look into the future? So, the when is, when it happens? Sorry Billy, cannot answer that one for you?
Looks plausible. Thanks for sharing
Thank you Tika. Wonder if Cryptoman976 has anything he would like to add to this?
ETN is doing its’ own thing, for the most part. It is not following BTC very closely so it would seem it is simply waiting as Tika suggests. The only thing I have to say on ETN is I do not see it dropping from here without a massive drop from BTC to under 3k. I personally believe we are at the bottom for ETN and it is simply waiting for news which will come at the MWC next month.
IOS and cloud mining will bump us up a little, but it remains to be seen how much. This is the moment we will look back to in the future and ask ourselves why we didnt buy more (not financial advice)
So my in my unprofessional professional opinion, ETN is on the launch pad and the countdown just hit 10 seconds.
You seem quite bullish Cryptoman976 but if I may ask, it just dropped over the past week, from around the 195-200 sats mark to 182, (when I just looked) and I believe that yesterday it actually went as low as 169 on cryptopia. I know you were suggesting it could go either way for ETN and if it went to the reverse side TA was saying it would go as low as 177, (or thereabouts). I am wondering what has fundamentally changed to make you think it will not drop from here. IOS main launch is not until the end of Jan - start of Feb, so what fundamental support do you see between now and the next 3-weeks to sustain the current levels?
agree if fomo, 634 SATS is my 1.618 fibonacci line too
but timeline uncertain
Good question, Billy. Before I answer that I would turn that question around and ask what fundamentals have changed to make the price go lower? The answer to that is, none.
I would say the anticipation of iOS, cloud mining and MWC19 in the short term is enough to keep people from dumping. Once all that has come to pass, anything can happen. But for now, I see no reason for millions of ETN to be sold off with such big revelations coming in the very near future.
I do my TA mainly on Kucoin where the lowest we have gone is 174. My measured target was 175, so I would say that is close enough. There is no noticible pattern that will dump it lower than that from a TA stand point. I am not necessarily bullish on ETN as I am confident we trade in the current range until after MWC19
EDIT: Let’s just say there is A LOT more risk selling ETN right now than buying
Thank you, as always Cryptoman976, for taking the time to do this.
@Cryptoman976 how far off am I with this?
If this is right it looks like we are holding with the upper resistance on the way down, but not getting hit hard? preparing to go trough it
Thanks for posting. That is a nice descending wedge which is definatley due to pop. Looking at the RSI, my guess is we break up.
Descending wedges are bullish overall and it would appear we are about due. I have been wrong before, but as a little bit of a gambler myself, I would bet we break above the resistance line.
EDIT: @KarEnTam Now that I had time to look at this on my big screen, I would move your support line up to the candle closes. Wicks are best used as supporting touch points on a line. They can be used as a touch line, but they are less reliable. But that line looks good using the candle closes regardless. It just brings the support up a little in the event we do fall.
Do the Bartman!
I couldn’t resist.