ETN Technical Analysis Society


#1053

Yes sir. It is Monday! The real answers will come Tuesday to see where we are headed. I still belive we will see a hard bounce. But you never know in crypto.

EDIT:

Now that I was able to get to my chart, I saw it to be a very interesting thing to see BTC bounced off the descending wedge patter I drew in purple a few days ago. Will we see the hard bounce I’ve been expecting in the next ~20 hours? We’ll see.


#1054

Yup it bounce nicely on that line? Cryptoman976 Can I add? I count 4swings, maybe one little one to give 5, press it nice into that little corner X? Then the big bounce? OR if we break that fractal pattern, then we are away!


#1055

Yes, that is very valid and possible…well, anything is possible. But the more charts we have the better. Not any one person can see it all.

EDIT:

Here’s the updated overall Bitcoin chart on the log scale with the 200 Weekly moving average shown. We have never been under that average for any length of time (and I hope we don’t start now). The lowest I believe we will go is $3290 with a potential dip under to form a quick wick before we go back up. There is cleary more room to go up than down…assuming that historical MA holds


#1056

Do you still think ETN is heading to the 61.8 Fib and timescale, please?


#1057

Cryptoman976 can maybe share on timescales? I am waiting to see if the support line breaks, yes, then we will surely go to 61.8. If we break resistance, well then it is another story?

image


#1058

So, maybe resistance at 181 this evening/early morning and then either hold and back up or break and down to IRO 175?


#1059

I can’t really speculate on time tables because TA is not a future teller. It’s possible we never get there at all. Before we can get to the .618 fib level at 175 sats, we have to break the .5 fib line at 181 sats. We have a solid 50 MA support on the 8 hour Kucoin chart in the 183 range right now which is protecting the 181 sat line. We have to break through that MA before we can test the .5 Fib which will require some hefty sell volume. To be 100% honest, I don’t see that sell volume coming without a continued BTC drop, which could always happen…there’s no way to know 100%. Everything hinges on BTC right now.

Here’s one thing I do know based on personal observation. 2 pm my time (Central time in the US) tends to be a dipping point on week days. That dip is typically amplified on Mondays more than the rest of the week. We have two and a half hours from the time of this post before we reach that time. I suspect we will have some sell pressure coming in which will give us an indication on how the rest of the day will go based on the price action afterward. There are A LOT of eyes on the market right now, so if you are looking to buy, the #1 rule is not to try and time the bottom because there are a lot of professional traders that do that and are able to dictate that bottom to begin with. If 175 is your target, know that we may never get there and it would be wise to simply buy a little now just in case. At the end of the day, 10 sats is not going to make a single difference when we start to realize true gains.


#1060

Anothe reason why we cannot say now, is another scenario that can play out Billy_Bongo is if we just carry on in this bull flag? So, a precious rule to follow is follow the trent, look for breakouts, never predict? So for me, I will wait for these cues :slight_smile:

image


#1061

Thanks for your input here @Tika
Really been enjoying everyones input here.
I especially enjoy the fact that this is Crypto…
No wrongs no rights no time frames. …
Just “Scenarios.”
The best thing about this Topic is not the winning or losing
Its the learning.
I learn a great deal from all of you .Thankyou.
:chipmunk::chipmunk:


#1062

This page is just magnificent! I wish I had this kind of support when I started trading! Everyone is giving, without judgement, so awesome?


#1063

I agree with you. And to top it all of the miner dumpers does not care about TA, they just want to cash out their mined coins, So unless that issue is being dealt with TA on Crypto cannot be compared to or be done the same way for TA towards stockmarkets


#1064

Incredibly impartial…always complimenting each other and understanding others perspectives.
Should be more widely adopted at street level.


#1065

It’s 12:30am where I am right now…I should be in bed. But I’m up trying to gauge this market as ETN is testing the .5 fib level of 181 sats on Kucoin right now. Technically it’s at 180 sats eating away at a big buy wall that keeps refilling. We are either going to see a nice bounce back into the 190s or a dump to test 175 sats…and it all depends on BTC. But BTC is testing a descending support wedge line right now too. So we are going to see a nice bounce or dump on it as well…everything will follow suite based on whatever BTC decides to do. Ahhh the fun times…


#1066

I just saw Alex Saunders (NuggetsNewsAU)
Latest tweet.
It asked do any of you guys know traders who expect bitcoin to double bottom.
Well Pahini being who he is launched straight in and said yes.
I knew someone here would agree!!


#1067

This video they talk about that


#1068

That is a very real possibility. The thing to watch is the low is now under the 200 weekly moving average by ~$150. So if it drops to match that price, it’ll be quick. If we go to that 3150 range, don’t expect the price to stay there for long…if it isn’t a quick wick in the blink of an eye, it won’t stay in the range for longer than 24-48 hours at most. People are salivating for that price.

Me…I’m just looking to get some more ETN at this point. The USD value of my BTC is not as of much importance to me right now.


#1069

Maritz Something, I learned at my elderly age :slight_smile: Please read this? It seems that everyone is waiting for something big to happen, for the market to show its hand? This will give us another view of how to look at our wonderfull created world :slight_smile:

https://worldcyclesinstitute.com/elliott-waves-and-lemmings/


#1070

Mine either.
Im so not interested in price right now.
Moreso interested to see at which point these institutions are going to FoMo each other out.
I got four wildcards left to flip for Electroneum yet.
At the moment ETN is just way too strong.
Next few days will be very interesting indeed.


#1071

that 24-48 hour timeline bounce they also agree with in this video.


#1072

I just heard that, that’s funny. The problem now is the fact that people understand that too well…so it probably won’t happen like that now. We’ll either never get there or we will bounce up hard tomorrow…lol