That would be quite a bounce. Maybe tomorrow?
I dont know what timeframe. It could even be 1-2 weeks. Can also happen rapidly.
On the 4 hourly you can also see that “typical” reversal candle. It doesnt mean we have to reverse. But it makes it more likely.
100%. The one thing TA can’t account for, or make an educated guess on, is volume.
That pattern is a hammer. A hammer at the bottom of a downtrend is a bullish reversal doji candle. The color typically does not matter but a green one is preferred…that’s exactly what we have.
Well I got some more at 141 sats, hope we go north from here lol
I’m not saying this is what is happening, I’m merely comparing what such and event would look like.
So, looking at the ETN chart (taking out prices and looking solely on the chart pattern itself), it looks very much like what a capitulation event would look like with a fast sharp decline and a quick recovery and bounce. Let’s see if it continues it’s upward trend.
What do we think headed into the weekend for BTC? Are we close to closing out the heavy resistance zone combined with the descending wedge? I think March 10th was on the radar…
I personally believe we are due for a retracement in the market overall. We’ve seen green with significant gains for a week now. I wouldn’t be surprised to see a 61.8% retracement since the last swing low from a very general sense.
I could see that. However, the volume has stayed pretty high which makes me think otherwise…
Yes, that is 100% true. We could simply be in the disbelief section of the psychological market cycle where people don’t believe we have started the accumulation rally. I personally believe we have been in the accumulation zone for a couple months now. But we’ll see.
I am more and more thinking we ended bear market…dont know why…maybe because even if BTC had a dump it recovered quickly…
From what Im seeing in the market is a slight swing from bitcon to the alts.
Id like to see it swing a bit more before I start getting excited again like I did a fortnight ago.
Miss your charting guys.
I know its really hard to predict, must be a little dissapointing at times when things dont go the way the charting clearly indicates it should.
This is crypto though and your efforts and sharing of views is fully appreciated by the entire community.
So we had the bounce (expected it to be a little bigger) but the volume was missing out.
So it seems like we will break lower now if we can break the .786 level.
Pretty much a no trade zone for me.
PS: If we break down, I will look for a new bottom since I believe it will be a good idea to double down on my investment in that case.
[quote=“gjfrom, post:1592, topic:7278”]
…to give more cloud mined ETN to the people in SA (now they get 1500 ETN per month to equal the $3)
Really? I hadn’t realised that the Cloud Mining was location biased… I’m still waiting to get to my first 100ETN on my iPhone… but if I understand you correctly, the mining rate in SA is a lot more so that they can get enough to pay their $3 phone bill to The Unlimited - so if I’d been there - I’d have learnt a lot more!
Im all for doubling down.
More the merrier when we double up .
Yes in South Africa you can cloud mine approximately 10x faster. To help make it a success.
I believe so too. I dont see anything fundamentally wrong with this project. So every cheaper price is a new opportunity imho.
I’m going to look down the back of the sofa - see if I can find some spare change to spend on ETN whilst the price is so low!
I have much larger holdings in other projects.
Although in saying that…I do not and will not promote them…
I feel its young and it has a very good future ahead of it.
There is a season…for every project.
Yeah. I believe that almost every alive project will see some hype cycle at some point. And ETN is special because it has even a big community.
Actually people should be super hyped now about the price but for some reason its always the opposite. When the price is low people get depressed and sell. Well… good for us to scoop up some more cheap coins before the big reversal.
hey matt i dont do TA just a normal guy here, but im just wondering where can i see this fib tools on kucoin? I cant find it on the indicators tools