ETHUSD today analysis, 191004. Last one more drop is needed
Hello, my friends. It's Cryptoranger K.
As of yesterday I switched my position to ETH to Long. Just because my trading style changed positions doesn't buy it right away. However, from now on, we are going to work on figuring out where to buy ETH. I was worried and sorry that some of you might have gotten a buy right after seeing my post yesterday. For that reason, I would like to explain this in more detail.
Yesterday I looked at the 50-day line of the weekly chart and saw that ETH was about to complete its decline. I'm not sure if this will lead to an upside or sideways consolidation, but I felt certain it was a move to close the decline. The problem is that the chart's 50-day line isn't perfectly upright yet. I posted yesterday and thought about it for a while. This is how the current ETH chart looks like.
1) Considering the flow of the 50-day line, we can see that ETH is trying to turn the trend upward.
2) The 1 week candle is still below the 50 day line.
3) Now, before the 5 and 10 day lines create an intersection.
4) The 20-day line has just fallen.
Let's talk about '2)' first. If I (or we) buy the ETH, the first point is when the candle goes through the 20 day line. Along with this, if I have to talk about the last buy point, I will say without hesitation that the candle is on the 50-day line for a week. (This is only for this time.)
You can remember the big drop in BTC that started on November 5 last year. Then everyone shouted, "The drop is now over. The BTC must go up here."
But then there is something that everyone overlooks.
That is, the candle did not rise above the 20day line.
3) The current ETH chart will create three intersections soon. 5, 10day lines cross and 10, 50day lines cross. Considering the fall in ETH, it adds up to 5 and 50 day lines, so three intersections await us. The problem is that the current candle is located below the 50 day line. If the current one-week candle rises sharply and the next week's can't be made above $ 190, all of these intersections are expected to act as resistance to the candle.
"Is it likely that ETH prices will rise sharply here?"
As of yesterday I switched my position to ETH to Long. Just because my trading style changed positions doesn't buy it right away. However, from now on, we are going to work on figuring out where to buy ETH. I was worried and sorry that some of you might have gotten a buy right after seeing my post yesterday. For that reason, I would like to explain this in more detail.
Yesterday I looked at the 50-day line of the weekly chart and saw that ETH was about to complete its decline. I'm not sure if this will lead to an upside or sideways consolidation, but I felt certain it was a move to close the decline. The problem is that the chart's 50-day line isn't perfectly upright yet. I posted yesterday and thought about it for a while. This is how the current ETH chart looks like.
1) Considering the flow of the 50-day line, we can see that ETH is trying to turn the trend upward.
2) The 1 week candle is still below the 50 day line.
3) Now, before the 5 and 10 day lines create an intersection.
4) The 20-day line has just fallen.
Let's talk about '2)' first. If I (or we) buy the ETH, the first point is when the candle goes through the 20 day line. Along with this, if I have to talk about the last buy point, I will say without hesitation that the candle is on the 50-day line for a week. (This is only for this time.)
You can remember the big drop in BTC that started on November 5 last year. Then everyone shouted, "The drop is now over. The BTC must go up here."
But then there is something that everyone overlooks.
That is, the candle did not rise above the 20day line.
3) The current ETH chart will create three intersections soon. 5, 10day lines cross and 10, 50day lines cross. Considering the fall in ETH, it adds up to 5 and 50 day lines, so three intersections await us. The problem is that the current candle is located below the 50 day line. If the current one-week candle rises sharply and the next week's can't be made above $ 190, all of these intersections are expected to act as resistance to the candle.
"Is it likely that ETH prices will rise sharply here?"
Comment:
Comment:
2day MACD is making dead cross weakly. Given this, I do not expect any sharp rise in ETH prices. If it's this state when you make the next candle, the decline will be clearer.
Comment:
Comment:
The chart above is Ethereum dominance. I saw this and expected another drop. There are two reasons for this:
a. RSI fell, but dominance rose.
b. MACD and Stochastic are expected to make Dead Cross.
Along with these features, I think there will be further downside, considering that the 3day Stochastic has almost made Dead Cross.
a. RSI fell, but dominance rose.
b. MACD and Stochastic are expected to make Dead Cross.
Along with these features, I think there will be further downside, considering that the 3day Stochastic has almost made Dead Cross.
Comment:
Comment:
This is an Ethereum Invert Chart. One week chart. If you look at this, you can see that the 5day line is clearly directed. So what's left now is what changes the direction of the 20-day line.
This is related to the intersection of the trend lines that will be created within the week charts discussed above. If one of the candles to be made shows up through one of the resistance crosses, and the MACD makes the Golden Cross, I think it will be a clear buying point. We expect it to be at least two weeks later. I think by that time, the price of ETH will be at least sideways or down. And then the price has to fall once more and come up quickly to turn the 20day line. And if the situation repeats one or two more times, I can expect to see for sure whether the direction is going to be sideways or rising.
I think that we are nearing a point where we can make money soon.
I hope you can find the point and make money together.
I sincerely wish you a successful investment.
Thank you.
This is related to the intersection of the trend lines that will be created within the week charts discussed above. If one of the candles to be made shows up through one of the resistance crosses, and the MACD makes the Golden Cross, I think it will be a clear buying point. We expect it to be at least two weeks later. I think by that time, the price of ETH will be at least sideways or down. And then the price has to fall once more and come up quickly to turn the 20day line. And if the situation repeats one or two more times, I can expect to see for sure whether the direction is going to be sideways or rising.
I think that we are nearing a point where we can make money soon.
I hope you can find the point and make money together.
I sincerely wish you a successful investment.
Thank you.