Look at this huge divergence???
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Sorry but what does that mean? I am no expert 
Usually if the price goes up the RSI (relative strength indicator) also goes up.
However if the price goes down and the RSI goes up it means there is a divergence, which is often a sign that there may be a trend reversal soon. In this case ETN going up.
Its nothing you can base trades on, because it doesnt tell you entry points, but if gives you a good idea about the market situation.
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Thanks for explanation
Okay, time to throw a chart up since I havenāt done it in a bit. There are too many words/discussion on this thread lately! Iāll add more words now, but add a chart with it ;p
BTC Daily update:
I drew and labeled everything from my point of view on the chart itself. Iām using the daily because the shorter time frames are much more bearish looking. So I zoomed out to the daily since the longer time frames you go to, the stronger the charts.
We have an uptrend line since Feb 8 with the 25, 50, and 100 day moving averages directly under giving us a good amount of support. I left the EMA ribbon off so it did not clutter the chart, but the ribbon is bunching up directly under the current candle offering support as well. This is all good new for the short term, but thatās where my optimism ends.
Based on what I see, the RSI on the daily is allowing room for growth. That growth is possible without too much resistance until we get back to the heavy resistance zone at around $4200. The bigger problem is we are closing in on the massive descending wedge resistance line that Iāve been tracking for over a year now. When the heavy resistance zone is combined with the descending wedge resistance line, I donāt see a whole lot of upside unless we get some massive buy volume. Because of this, I am anticipating a fall to around the descending wedge support line at a minimum. The good news is that isnāt actually too much lower than we are now in the $3500 area, but we could always fall lower, itās impossible to know for sure. As you can see on the chart, the two merge around March 10-18.
After studying the charts in more depth, my personal opinion at the moment is we trade sideways in the current channel until we break the descending wedge resistance line some time in mid-late March before using that resistance line as a new support platform to bounce up and break the heavy $4200 resistance zone.
*This is my own personal opinion, please do not make any trades based on it. There are many TA people saying we will drop to new lows but Iām sticking to my guns as I have for a couple months now and say I believe we already hit bottom at ~3150 and are simply in an accumulation phase where weāll stay in this channel for a little whileā¦possibly half or most of this year.
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Morning.
I thought Id share some news on the institutional investment front.
It was pretty quiet and maybe a little under rated.
To coincide with your time frame @Cryptoman976ā¦a lot of other cryptos will be added although it is an extremely lengthy process.
Some of the biggest (top ten) to be added to the list before the end of the year.
Lloyds of London insures BitGo
This is pretty amazing development I feel in promoting this asset class as being secure.
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yea i hear you, just think of it as a branded phone caseā¦
Morning everyone! Not a lot going on? So, a recap of where we are for those who need to know? We are still in the channel between the Support and Resistance. We touched the bottom of the wedge, so I suppose we will go up to test the top again. The wedge is getting tight, so almost thereā¦
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More support come into the 170sats band on Kucoin
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Anyone fancy a pop at TA, on the current position of ETN?
Iām staying out of ETN TA until MWC is over and we see some results from South Africa. We have moved away from a pure speculative platform to the birth of an actual product. This puts the project on a whole new level and TA based on the prior speculation market simply canāt be done to any degree of accuracy (IMHO). Iām in wait and see mode:)
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Just after my last post, there was a mini flash-crash on Liquid. What was that all about!
I guess that may mean no ETN TA for quite a while then, Cryptoman976. I will miss your informative articulations.
Iām still going to do TA on BTC in the short term. I just did one yesterday and nothing has changed. We are simply in an accumulation phase right nowā¦so it is not too exciting.
Iāll kick back in with ETN when I feel the market has adjusted with all the recent activity.
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I spoted this a few times already on Liquidā¦
Flash crashing is a tool whales use to trigger stop losses an accumulate more coins for cheap. When you have a flash crash (or flash rise for that matter), and the price goes back to where it previously was, you can bet that you will see a move in the opposite direction of the crash in the semi short term future.
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When you say a toolā¦ what exactly do you mean? How do they use or implement this tool/strategy? I see that in total, (and from memory) there were around 200k sold, down to 159 but there were far more coins than this that people wanted to buy between 185 to 159. so how do they get down to 159 when I presume they would have had to buy many times more coins than the 200k that were sold?
When I say ātoolā itās more of a method. This method involves having a lot of the coin in question (in this case ETN) and a lot of BTC/fiat, depending on the trading pair.
What these whales will do is setup buy orders in blocks (in this case for an example, they will setup a bunch of buy orders in the 180 to 159 sat range). That will in turn show a bigger support area than there really is and entice people/bots to establish stop loss orders in the same range. With that foundation in place, the whales will simply wash trade (essentially selling ETN to themselves) in an effort to pick up more ETN by triggering other peopleās stop losses which are picked up by their buy orders.
This is a little bit of a gamble as there are obviously other buy orders in the block, but they can estimate how much based on what they have in that same area and make an educated guess on how much they may pick up from stop loss triggers. When they believe the stop loss orders are greater than the buy orders from other people, they can trigger them by selling into the block.
Make sense?
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BTC just dived 50 bucks to just under $3800 on CMC
BTC Update
It appears the 4 hour EMA ribbon finally over powered the uptrend support line we have had since Feb 8th and the price started to dump. However, we have the Daily EMA ribbon (not pictured), the 100 and 25 day MA, as well as the descending wedge support line holding us up.
Many are expecting a pretty big dump, but I do not believe that will actually happen right now. But of course I could be wrong. We have too much support under us for a 4 hour EMA ribbon to dump us.
If Iām reading this correctly, now that we have touched the descending wedge yellow support line I believe we will bounce back up a bit and move up more towards the upper descending wedge resistance line while staying under the heavy resistance blue zone. If we drop back under that yellow descending wedge support line, Iām going to facepalm in disbelief.
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