Previous analysis/position: Wasn’t feeling good about long position and moved stop loss to breakeven.
Patterns: Battling pitchforks. h&s + bear flag on 1 hour
Horizontal support and resistance: R: $465.32 S: $452.21
ETHUSDSHORTS: Nearing the all time lows, making a short feel very attractive
12 & 26 EMA’s (calculate % difference): 12: -1.29% 26: -2.97% and angling down
50 & 128 MA’s: 50: -8.24% 128: -16.45% and just made bearish cross on 1h. Finding resistance at the 50 day MA.
FIB’s: 0.382 = $560.88 0.236 = $359
Candlestick analysis: 12h shooting star called the top
Ichimoku Cloud: Back below kijun on daily. Still a c clamp. Recently fell out of bearish 12h cloud.
TD’ Sequential: Combo 13 on the daily. Green 1 on the weekly
Visible Range: Support cluster at $360. Showing very little resistance above. When looking at 2018 it shows $429 -$470 as largest volume and very little until $660
Bollinger Bands: Pulling back from top band on daily, just fell through MA. Just found resistance at 3d MA.
Trendline: Still supporting hyperwave that connects the top of 5/3/17 to 7/4/18
Daily Trend: Bearish
Fractals: 4 down fractals at/around $412. Recently broke 2 up fractals. Next one is $554.
On Balance Volume: Has remained flat throughout this bear market.
Buy/Sell Sentiment on Trading View: RSI: 46.97 Stoch: 52.71 Sentiment is a sell - strong sell (counter trade).
Conclusion: No trade zone between $400 - $512. If it breaks above $512 then I expect it to rally to $680. Setting a stop entry at $516 would be a high probability long. If it breaks down below $400 then I would expect a move to $275 - $300. Setting a stop entry to at $394 would be a high probability short sale. I would not open a short right now due to the combo 13 on the daily chart.
Patterns: Battling pitchforks. h&s + bear flag on 1 hour
Horizontal support and resistance: R: $465.32 S: $452.21
ETHUSDSHORTS: Nearing the all time lows, making a short feel very attractive
12 & 26 EMA’s (calculate % difference): 12: -1.29% 26: -2.97% and angling down
50 & 128 MA’s: 50: -8.24% 128: -16.45% and just made bearish cross on 1h. Finding resistance at the 50 day MA.
FIB’s: 0.382 = $560.88 0.236 = $359
Candlestick analysis: 12h shooting star called the top
Ichimoku Cloud: Back below kijun on daily. Still a c clamp. Recently fell out of bearish 12h cloud.
TD’ Sequential: Combo 13 on the daily. Green 1 on the weekly
Visible Range: Support cluster at $360. Showing very little resistance above. When looking at 2018 it shows $429 -$470 as largest volume and very little until $660
Bollinger Bands: Pulling back from top band on daily, just fell through MA. Just found resistance at 3d MA.
Trendline: Still supporting hyperwave that connects the top of 5/3/17 to 7/4/18
Daily Trend: Bearish
Fractals: 4 down fractals at/around $412. Recently broke 2 up fractals. Next one is $554.
On Balance Volume: Has remained flat throughout this bear market.
Buy/Sell Sentiment on Trading View: RSI: 46.97 Stoch: 52.71 Sentiment is a sell - strong sell (counter trade).
Conclusion: No trade zone between $400 - $512. If it breaks above $512 then I expect it to rally to $680. Setting a stop entry at $516 would be a high probability long. If it breaks down below $400 then I would expect a move to $275 - $300. Setting a stop entry to at $394 would be a high probability short sale. I would not open a short right now due to the combo 13 on the daily chart.
Note
Getting a bounce off of the combo 13 and a potential tweezer bottom. Quick tip: Most of the free TD Sequential indicators do not display the countdown numbers, but if you search for 'TD Combo' there are two free options from user @Randomehro.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.