Here to learn. Comments and criticism are greatly appreciated. ^_^
Big ups to my bois LazyBear / ChrisMoody / luca1405 / MarcPMarkets ... Keep up the good work, gentlemen.
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Technical analysis of ETH/USD (COINBASE) pairing, focusing on the current correction from $1419.96 1/13/18
Reviewing the 4h chart, I would like to highlight a pattern I noticed taking place on this downtrend. After reaching an all time high of $1419.96, you can see price drop through the green cloud below (point A), on the way to a swing low of $757 on 1/17/18. The price then works its way back up and establishes a lower high at $1224.00 on 1/28/18. We then drop further down, again through the green cloud below (point B), reaching a new low of $555.66 on 2/5/18.
After climbing back up and creating a new lower high at $982.99 on 2/17/18 the price drops straight down through the green cloud for a third time. This is where it gets good ladies and gentlemen, because we can see that another Ichimoku crossover has already occurred and a red cloud is forming.
To summarize, it seems as though we are not out of this correction quite yet. We are most likely going to see a new lower low develop over the next week, possibly even grazing the .786 retracement.
What do you think?
Thanks for your time, and have a great day!
Bigby
DRAWING TOOLS / INDICATORS :
Fibonacci Retracement
#1 - (Values on Bottom)
Low at 9/15/17 $202.25
High at 1/13/18 $1419.96
#2 - (Values on Top)
High at 1/13/18 $1419.96
Low at 2/6/18 $555.66
Squeeze Momentum Indicator (LazyBear)
Williams_Vix_Fix (ChrisMoody)
Relative Strength Index
Parabolic SAR Strategy
Ichimoku Cloud
Big ups to my bois LazyBear / ChrisMoody / luca1405 / MarcPMarkets ... Keep up the good work, gentlemen.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Technical analysis of ETH/USD (COINBASE) pairing, focusing on the current correction from $1419.96 1/13/18
Reviewing the 4h chart, I would like to highlight a pattern I noticed taking place on this downtrend. After reaching an all time high of $1419.96, you can see price drop through the green cloud below (point A), on the way to a swing low of $757 on 1/17/18. The price then works its way back up and establishes a lower high at $1224.00 on 1/28/18. We then drop further down, again through the green cloud below (point B), reaching a new low of $555.66 on 2/5/18.
After climbing back up and creating a new lower high at $982.99 on 2/17/18 the price drops straight down through the green cloud for a third time. This is where it gets good ladies and gentlemen, because we can see that another Ichimoku crossover has already occurred and a red cloud is forming.
To summarize, it seems as though we are not out of this correction quite yet. We are most likely going to see a new lower low develop over the next week, possibly even grazing the .786 retracement.
What do you think?
Thanks for your time, and have a great day!
Bigby
DRAWING TOOLS / INDICATORS :
Fibonacci Retracement
#1 - (Values on Bottom)
Low at 9/15/17 $202.25
High at 1/13/18 $1419.96
#2 - (Values on Top)
High at 1/13/18 $1419.96
Low at 2/6/18 $555.66
Squeeze Momentum Indicator (LazyBear)
Williams_Vix_Fix (ChrisMoody)
Relative Strength Index
Parabolic SAR Strategy
Ichimoku Cloud