Just an idea i got from looking at the larger perspective. Just trying to think outside the box here.
Almost looks like a decending triangle if you look at the broader picture, which will converge with the long term uptrend when we reach the lower end price.
Might be wrong, but just an idea
Almost looks like a decending triangle if you look at the broader picture, which will converge with the long term uptrend when we reach the lower end price.
Might be wrong, but just an idea
Commentaire:
Updated idea, something to consider :)
Updated idea, something to consider :)
Commentaire:
Inverse H&S on the hourly but right shoulder failed to the resistance line, make or break, important levels :
640€ - Minor Support
715€ - Current Resistance
640€ - Minor Support
715€ - Current Resistance
Commentaire:
Looks like it wants to consolidate for a bit, lets see if it breaks through the trendline
Commentaire:
My spider senses are tingeling, the closer we get to the downtrendline, even at this consolidating place, the higher the likelyhood of a upward breakout than a lower breakout. Keep your eyes peeled!
Commentaire:
A break outside the downtrend could also be signs of a extended correction wave.
Personally i’ll be going long if we break past it though , but i will keep my stop right below the support that we have established at 640.
Personally i’ll be going long if we break past it though , but i will keep my stop right below the support that we have established at 640.
Commentaire:
On the flipside, a fail to break 700 will push us lower, we are showing presence close to 700 now but we have yet to start eating away at any sell walls there. A break above 700 would at the same time send us out of this downtrend channel and could instegade another bull run to next resistance 720.
Commentaire:
We broke 700 in a strong fashion, sell side is looking more and more exhausted, i have opened a long now, next key resistance is 720
Long Position 2 will expose you to less risk. 400 is a strong support based on the thesis that previous resistance points has turned into support - 400 was a celing for a long time for ETH.
Something to think about;
"See The Value-Not The Price" - a HODL theory .
When the enterprises and the banks of EEA starts to utilize the network on a global scale (thats what we're hoping for and what EEA is working on), then it would be inevitable that the token should gain value against the traditional fiat.
However, If Ethereum fails for some reason, a so called "black swan event" (like the "DAO" - or worse), the coins could be just about worthless like Vitalik Buterin warned about on his twitter account. (He is simply telling people to be careful, and it could be in the best interest of Ethereum for some reason.) But Ethereum have stayed safe since the DAO with rigorous testing and developing, and we should remember that here have only been good news about Ethereum as of late.
Meanwhile we "crash" I see incredible amount of Ether accumulation (some people are seeing the value, not the price) which is keeping me very bullish even in these bearish markets.
I had a idea that "some people are probably trying to devaluate Ether, to gain more Ether" - A form of Control and draining of the market - but that is tactic that won't last forever, a reaction will come in the form of a upwards correction at some point. Ethereum has everyhing to going for it, it's enterprise alliance and the amount of developers is constantly growing. The protocol is expanding, scaling solutions in the work, proof of stake & casper.