ETHUSD today analysis, 191014. "Things getting more positive."
Hello, my friends. It's Cryptoranger K.
A new week has begun. As a weekly chart, I expected that the 5 & 10day line would create an intersection and the price would start below that intersection. But no intersection was made. Now what we need to watch is:
1) Will prices fall as the 5day and 10day lines act as resistance?
2) Will the price rise sharply here to create an intersection of 5 & 10 day lines?
From my personal experience, when the 5day and 10day lines were parallel, they would almost fall. But if the trend is strong, the price could rise and create a crossover of the 5 & 10day lines.
Let's look at the daily chart.
A new week has begun. As a weekly chart, I expected that the 5 & 10day line would create an intersection and the price would start below that intersection. But no intersection was made. Now what we need to watch is:
1) Will prices fall as the 5day and 10day lines act as resistance?
2) Will the price rise sharply here to create an intersection of 5 & 10 day lines?
From my personal experience, when the 5day and 10day lines were parallel, they would almost fall. But if the trend is strong, the price could rise and create a crossover of the 5 & 10day lines.
Let's look at the daily chart.
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(ETH 1 day chart)
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If you look at the daily chart, you can see the following features.
1) The current candle is located below the intersection of the 5 & 50 day lines. But I think the starting point of today's candle is more important than the current position. Let's check the positions of the previous candle. If you look at the candle on October 4 and October 5, the candle's starting point is above the 10 day line. And yesterday's and today's candles are below the 10-day line. The positive feature here is that the candle has been on the 20day line since October 10th. First of all, I need to check where the candle starts tomorrow so I can get a more accurate direction. If tomorrow's candle starts above the 10 day line, you can accept that it is ready for alignment of the trend lines.
* 2day & 3day stochastics appear to be on the rise. I think it is more likely to go up than down. (Conditional positive)
2) One day chart stochastic made Dead Cross. (denial)
3) The MACD looks weak but has created a Golden Cross. And on the rise. (Positive)
4) RSI is raising its lows one by one. (Positive)
Let's look at the week chart.
1) The current candle is located below the intersection of the 5 & 50 day lines. But I think the starting point of today's candle is more important than the current position. Let's check the positions of the previous candle. If you look at the candle on October 4 and October 5, the candle's starting point is above the 10 day line. And yesterday's and today's candles are below the 10-day line. The positive feature here is that the candle has been on the 20day line since October 10th. First of all, I need to check where the candle starts tomorrow so I can get a more accurate direction. If tomorrow's candle starts above the 10 day line, you can accept that it is ready for alignment of the trend lines.
* 2day & 3day stochastics appear to be on the rise. I think it is more likely to go up than down. (Conditional positive)
2) One day chart stochastic made Dead Cross. (denial)
3) The MACD looks weak but has created a Golden Cross. And on the rise. (Positive)
4) RSI is raising its lows one by one. (Positive)
Let's look at the week chart.
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(ETH 1 week chart)
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It's inconvenient that the 5 & 10day lines on the 1 week chart didn't make an intersection, but from the price flow alone, it looks like a cup. (I personally call this the 'J' shape.) If I judge with this flow alone, this is the right place to rise. I also want ETH to rise here. If the price of ETH rises here, we expect the price to rise to $ 210 near its previous high.
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(ETH 1 day chart)
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As I said before, I think the current flow looks like a falling flag in the short term and in the framework of a falling wedge in the medium term. So I thought the price would fall. But again, I've analyzed the chart and see that there is a possibility that the price will rise within the falling flag and rise outside the falling wedge frame. (This comment is very cautious because it feels like I'm only seeing what I want to see.)
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(ETH 1 week chart)
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Nevertheless, I believe that the price flow is now out of the falling wedge, given that the chart stochastic is rising on a weekly basis. Another reason I think this is because of a two-day chart.
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(ETH 2 day chart)
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If you look at the chart on the 2nd day, you can see the following features.
1) 5day line and 10day line are aligned.
2) The MACD diagram is weak, but in a positive order.
3) Stochastic is on the rise with a Golden Cross.
Given these points, we expect a positive signal soon.
1) 5day line and 10day line are aligned.
2) The MACD diagram is weak, but in a positive order.
3) Stochastic is on the rise with a Golden Cross.
Given these points, we expect a positive signal soon.
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(ETH 1 week chart)
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Those of you who have watched my writings before can remember what I said:
1) A 1 week chart candle should be made on the 50 day line.
2) The 10-day line should show a rise.
I think one of these two conditions I mentioned earlier is satisfied.
In addition, the current MACD has weakly drawn two reverse arches and appears to be ready for ascension. Only one thing, there is no Golden Cross on the 5 & 10day lines. However, considering the following two characteristics, I think that the flow of the future may flow positively.
1) The RSI is gradually raising its lows.
2) Stochastic is also rising.
The conclusion.
Yes. I think you can think slowly about buying. 'Think'. Things seem to be getting more and more positive. But I'll wait another week. I am currently uncomfortable with the following three factors.
1) The 10-day line still shows a sharp decline.
2) The intersection of 5 & 10day lines is not made.
3) No double bottom made.
I don't know what others think, but the current chart flow is very difficult to analyze. I think that's because price volatility has decreased. Reducing price volatility means that there is some big change ahead, so I'm raising expectations.
But I think we should be more careful in times of high expectations. So if only two of the three anxieties mentioned above were satisfied, I would be able to buy.
Today's analysis is up to here.
The weather is quite autumn now. In particular, the high and clear sky makes me feel better.
I hope your future will be filled with bright and pleasant things.
Then I would like to sincerely hope that you will always keep your assets and make profit continuously.
Thank you.
1) A 1 week chart candle should be made on the 50 day line.
2) The 10-day line should show a rise.
I think one of these two conditions I mentioned earlier is satisfied.
In addition, the current MACD has weakly drawn two reverse arches and appears to be ready for ascension. Only one thing, there is no Golden Cross on the 5 & 10day lines. However, considering the following two characteristics, I think that the flow of the future may flow positively.
1) The RSI is gradually raising its lows.
2) Stochastic is also rising.
The conclusion.
Yes. I think you can think slowly about buying. 'Think'. Things seem to be getting more and more positive. But I'll wait another week. I am currently uncomfortable with the following three factors.
1) The 10-day line still shows a sharp decline.
2) The intersection of 5 & 10day lines is not made.
3) No double bottom made.
I don't know what others think, but the current chart flow is very difficult to analyze. I think that's because price volatility has decreased. Reducing price volatility means that there is some big change ahead, so I'm raising expectations.
But I think we should be more careful in times of high expectations. So if only two of the three anxieties mentioned above were satisfied, I would be able to buy.
Today's analysis is up to here.
The weather is quite autumn now. In particular, the high and clear sky makes me feel better.
I hope your future will be filled with bright and pleasant things.
Then I would like to sincerely hope that you will always keep your assets and make profit continuously.
Thank you.
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(ETH 1day chart)
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So far, the price flow is moving in the patterns. I'll watch it a bit more.