Conclusion for today’s GBPCAD (FX) analysis: Continue reading GBPCAD Technical Analysis: Market Outlook for the Week of Feb. 03, 2019.
Conclusion for today’s Ethereum Analysis:
Continue reading Ethereum Price analysis: Bears Running Out of Time.
Conclusion for today’s Ethereum Analysis: Continue reading Ethereum Price Analysis: Live Update and Market Outlook for the Week of January 20, 2019.
Ethereum analysis for today is shown on a 6 hour time frame. A logarithmic scale used in conjunction chart pattern analysis shows the bearish price channel in Ethereum from January 13, 2018 to current date.
Price closed below the channel for the first time on November 24, 2018, followed by consolidation, and further sell off in Ethereum. Earlier entry into the bearish trade in Ethereum was provided here.
Price action from December 7, 2018 to December 15, 2018 is interpreted as a double bottom chart pattern (ideally bullish) that led to the current bullish price swing in Ethereum.
The dotted green line marks the immediate bearish trend line in Ethereum and a break above the line is considered a bullish signal (i.e. price closing above ~$172.99).
Strategies that involve buying on a breakout above the upper limit of the bearish channel (~$270.74) are considered more conservative than long positions entered on a break above $172.99.
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It was mentioned in the previous post for Ethereum analysis (which can be found here) that the sideways price action which lasted over a month suggested a sideways channel whose width could be used to project a minimum expectation for price upon breakout.
Ethereum broke out below the bottom of the channel and is currently attempting consolidation with the width of the arrow hitting the target as soon as a successful close below the bottom of the channel was complete.
The bearish swing from November 9, 2018 to current date is identified in this Ethereum analysis as a bearish channel. Price level to watch is between 152.39 and 142.78 with a break above the former possibly indicating a possible termination of the current bear trend in Ethereum.
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