Tickmill
Singkat

Ethereum forming a major head and shoulders reversal!

BITFINEX:ETHUSD   Ethereum / Dolar

Ethereum             is forming a really strong major reversal signal with a head and shoulders formation. A break of major neckline support at 1096 (38.2% Fibonacci retracement , horizontal overlap support, neckline support) could trigger a strong move down towards 917 support (61.8% Fibonacci retracement , horizontal swing low support). If price breaks this major level of support, then our major resistance level would be at 1177 ( Fibonacci retracement , horizontal overlap resistance).

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

This analysis is provided as general market commentary and does not constitute investment advice. We will not accept
Z
Balas
FAILED. ETH TO 2000 USD
+3 Balas
Fail
+3 Balas
@Jeandp,

Most importantly why did it fail? Because poster zoomed in so closely. These patterns only hold real value when looked at in weeks and months not hours and a few days.
Balas
There is a ton of support volume at ~1250 (seen any time the price bounces off that), and in general, a constant buy pressure despite the price dips. ETH is being bought up, so my bet is a continued rise, despite the ATH levels.
+2 Balas
krwhitley PRO krwhitley
@krwhitley, To further expand on this, I'm tracking real-time buy/sell volumes to have more insight into the underlying traffic below the generic "volume" (both sides combined) we see in traditional charts. Of the big 3 (BTC/ETH/LTC), ETH is a breakaway with a unique accrual pattern all to its own. It's literally a constant climb in buying $ being pumped in, with price dips mostly completely unsupported by volume. BTC (and LTC to a lesser degree) on the other hand shows accrual dips when in a big downtrend. LTC is in a holding pattern, but some of the money may be exiting BTC soon unless I'm mistaken.
Balas
Pretty weak call. People love to spout "H&S, H&S!" I'm not buying into it.
+1 Balas
sethmdmic Tdunlap1310
@Tdunlap1310, I agree - it looks like they were stretching to make it a H&S to begin with, and based on the drawing it had already bounced off support and denied the H&S trend anyway, so I don't really understand this analysis.
Balas
Looks about right, but we will see. Maybe re-enter around 900 instead of 800 like I originally thought...
Balas
Bahasa Melayu
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Laman Utama Pengimbas Saham Pengesan Isyarat Forex Pencari isyarat mata wang Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar