ethhunter

The Bull & The Bear Cross Paths POSSIBLE DANGER (ETH)

BITSTAMP:ETHEUR   以太坊/欧元
Hello everyone,

Some new, outside the box thinking for the hunting trip again.
I am in a long position right now, but I didn't realize the urgency about this breakout until now.

From my findings It seems that the previous breakout attempts are linear with the first and second one that failed.
(See the blue triangle upper trendline lining up perfectly with the previous breakouts to the current breakout).

You could also spot the drop that occurred after that HS pattern that was partially formed outside the downtrend line ("The breakout(s)").
This Makes me VERY nervous when i was analyzing the current breakout, and for those who don't know what im talking about, I'm talking about the MASSIVE H&S forming (faint dashed red lines).
Sure, many have probably spotted this, but this does NOT mean it will materialize by any means, if you look at the first left shoulder thats within the red dashed line, it actually rallied up to form the current head, and now we are at the right shoulder. So we should not over read into this, but you should definitly prepare for such outcome.

So my conclusion of the current chart is that we are in a last stand with the bears, it's do or die, i don't see another option but to go back and re-test the 0.236 support if we don't rally from here.

We have a standoff and the winner will be revealed very soon, stay safe and good luck!
交易开始: Minor Support: 700
Mid Support: 635-655 (Fib 0.786)
Major Support: 455-500

Trade Target: 875 (Fib 1.618)

Stop Loss: 695
评论:
Which Way Do We Go ?
评论:
评论: We broke out of the local triangle, Lets see if we can move outside from my blue triangle now :)
交易开始: We got rejected from the bull zone and volume looks pretty poor right now, we will probably see some more consolidation before taking a decisive direction for now.
评论: Lower highs and lower lows, doesnt look to good right now.
评论: Getting closer to the danger zone , going to pull my short trigger if we don’t bounce from the uptrend channel into the bull zone.
交易结束:到达目标
Getting closer to the danger zone , going to pull my short trigger if we don’t bounce from the uptrend channel into the bull zone.
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@ethhunter, what if we just carry on consolidating here for a bit?
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ethhunter mattgarbutt
@mattgarbutt,

Possible not not plausable.
I'm not gonna let a chance to gain more eth cheaper slip away, i rather sit in a bear market for a while with a ton more eth than wait for a rally with a smaller amount that might or not might happen.
We are moving down slowly now, 700-705 will bring us to the edge of the channel we are in, this channel has been respected since 22/2, a violation of that channel could complete the HS pattern and could trigger massive selloff. But at the same time we are close to the end of a larger ascending triangle as well, so it's hard to judge the direction here or where the market wants to go.
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ethhunter ethhunter
Possible but not plausable*
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@ethhunter, So where do you run your shorts? Or is it as simple as moving into fiat and then buying back cheaper?
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ethhunter mattgarbutt
@mattgarbutt, Yeah, I'm not actually shorting per se, I'm just moving to fiat.

See
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@ethhunter, Bit of a worry. I'm coming down on more of a bullish outlook though, purely based on most of the TA I watch or read. This guy's often right, futures/commodities/crypto trader: https://www.youtube.com/watch?v=6OKnoodq8CA
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ethhunter mattgarbutt
Gonna check it out
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ethhunter ethhunter
we have room in this triangle to move deeper before going up again, price will contract as we get closer to the edge of it, if a breakout doesnt happen now it wont happen for another while
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@ethhunter, This is also true. I'll prob just hodl, as I normally do.
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