gjfrom Maybe this will tell us who will win this small battle? Lets see if this fractals will deliver?
Iāve been watching the chart today wondering if this is what @Cryptoman976 predicted yesterday??
I am not able to watch the market constently now that I have a steady job, but if it is trying to dumo I would not be surprised at all. The Stoch RSI and rising wedge patter dictates it should drop to a certain degree. But we do have a ton of support so the ultimate impact is unknown.
Seems like the whales have gone fishing for plankton on Huobiā¦ donāt get sucked in to selling low peeps!
Reason is BTC seems to break lower. People move back to BTC.
Evening/Afternoon/Morning all, wherever you are
Iām still not doing any in depth analysis on ETN until we see this trial and other launches matureā¦but seeing ETN is on tradingview using Huobi (and there are a number of days worth of data now), I found this interesting that it has basically formed a falling wedge/pennantā¦which is bullish most of the time.
I literally have not done any other analysis on it, but until Tradingview gets more data over time, it canāt be used reliably.
As far as BTC, we are doing pretty much exactly what I was expecting from last weekās analysis seven days ago from this post, granted we are trading on the higher end, so Iām not ruling out a drop before we go up to test the downtrend, but the support seems to be extremely strong.
Hereās my personal opinion on what I think is most likely to happen based on the action weāve seen the last couple weeks.
Is it safe to say that @nhutvoās charted 3rd wave broke down and we need to start-a-fresh, or is this still in play?
Thanks Iāll take that looks good to me!
ETN seems to hold at the moment.
There is a small double bottom forming, but its so small that I wouldnt really want to trade it on breakout.
Waiting to see if we can keep holding over 151 sats.
I wanted to share with you guys what Iām looking for at the moment.
It could be something major.
The chart below is the Bitcoin Dominance chart. It tells us how bitcoin is evaluated compared to the alts (like ETN). As you can see we formed a tightening range where we tested support three times and now a fourth time.
Basic TA tells us the more often a level is tested the more likely it becomes that we break it.
And if we do we may see a huge rallye in altcoins and possibly ETN, since when BTC dominance drops altcoins gain and vice versa.
Here is the chart if you want to check for yourself. https://www.tradingview.com/chart/?symbol=CRYPTOCAP%3ABTC.D
Happy trading
The current daily BTC candle ends in a little over 4 hours as of this post going up. The next candle will be the start of the break up window (in green) that I posted a long while back to see if we can break the overall year long downtrend. I have the window open for ~25 days (no real TA reason for that window time line, I based it off what I think is an effective distance from the red resistance to use the trend line as a trampoline to bounce from and break through the red), but I think weāll have an answer sooner rather than later.
With the window starting on a Monday, Iām not expecting it to break into the green and stay there on a day of the week where we historically go downā¦but while we are in the middle of a āchanging of the guardā from bears to bulls, itās definitely possible. But realistically, Iām not expecting an real attempt before late Tuesday or Wed.
Testing support again.
Everyone seems to be waiting for the big drop in BTC. Most coins consolidate.
If it is going to drop, today is the most likely dayā¦or it may take off and catch eveyone off guard. I am not making any trades regardless, I am just a spectator at this point.
BTC shows a little resilience this time.
We broke through our bottom support and snapped right back. That is weird, because we also had decent volume and I do expect us to break lower. However if we hold and get some momentum going this may also become pretty bullish. Dont expect this. Since weekly shows bearish cross and BTC Dominance is going up. But you never know.
ETN, BTC and many other alts singalling to go lower at the moment.
Not sure I completely agree with you @CryptoMatt. Electroneum look like it is ready for a bounce in the near term. Besides, when does Electroneum ever follow the rest of the alts?
ā¦besides bull run of Dec 2017, Jan 2018