ETHUSD - Ethereum goes where I tell it to go!
If there's one thing I've noticed about the market lately, it's that the prices are going exactly where I say they're going to. Thought I'd post my new marching orders for ETH/USD. Please check out my recent posts to see how accurate I have been recently.
You can see the exact time on the chart where I posted my analysis called "Beartherium"... in which I gave a very distinct warning about the price action to come. From the time of that post, ETHUSD dropped from near 788 all the way down to 638...
Yesterday I posted an analysis without predictions, just kinda saying what I see overall for ETH... I am now ready to give Ethereum the marching orders.
You can see that ETH has broken out of, and confirmed, below the bottom of my symmetrical triangle / bear pennant. We've got the EMA 20 directly above it acting as resistance, w/ the 50 and 200 EMA's pretty far above that. We're going down. It may not be straight down in a direct line, but we're heading down to the black trend line, around $625 to $630 with a possible stop around the $650 area.
What we see from there will be huge in determining Ethereum's near future. It may bounce off that and give us a nice opportunity for going long. It might also confirm below it, which would be disasterous for ETH, as it would confirm a MASSIVE head and shoulders pattern dating back to the beggining to mid december.
Keep in mind ETH's price (for the most part) is highly correlated with the price of BTC. This does NOT mean that they do the exact same thing at all times though... Ethereum and litecoin are both more than capable of breaking the bitcoin trend given the right conditions. The intricicies of my prediction can be invalidated at any time... but I will say this... without a breakout above the top of the downtrend channel coming from the ATH, we're going down to at least the black trendline no later than March 30th.
While I'm overly confident in this prediction, it is hypothetical and should not be taken as trade advice.
If you love my charts as much as I do... please like, comment, follow and share.... if you don't, please do the same anyways. Good luck!
You can see the exact time on the chart where I posted my analysis called "Beartherium"... in which I gave a very distinct warning about the price action to come. From the time of that post, ETHUSD dropped from near 788 all the way down to 638...
Yesterday I posted an analysis without predictions, just kinda saying what I see overall for ETH... I am now ready to give Ethereum the marching orders.
You can see that ETH has broken out of, and confirmed, below the bottom of my symmetrical triangle / bear pennant. We've got the EMA 20 directly above it acting as resistance, w/ the 50 and 200 EMA's pretty far above that. We're going down. It may not be straight down in a direct line, but we're heading down to the black trend line, around $625 to $630 with a possible stop around the $650 area.
What we see from there will be huge in determining Ethereum's near future. It may bounce off that and give us a nice opportunity for going long. It might also confirm below it, which would be disasterous for ETH, as it would confirm a MASSIVE head and shoulders pattern dating back to the beggining to mid december.
Keep in mind ETH's price (for the most part) is highly correlated with the price of BTC. This does NOT mean that they do the exact same thing at all times though... Ethereum and litecoin are both more than capable of breaking the bitcoin trend given the right conditions. The intricicies of my prediction can be invalidated at any time... but I will say this... without a breakout above the top of the downtrend channel coming from the ATH, we're going down to at least the black trendline no later than March 30th.
While I'm overly confident in this prediction, it is hypothetical and should not be taken as trade advice.
If you love my charts as much as I do... please like, comment, follow and share.... if you don't, please do the same anyways. Good luck!
Komen:
Wow. I said we'd make a stop right around 650. We made a stop at 650! Wow!
