ETHBTC: Bullish Ascending Triangle Forming On Daily (28.09)

[dragonvslinux]

Source: Trading View, September 28th 2019

Ethereum looks to be confirming another ascending triangle on the Daily chart with currently two touch points on both horizontal resistance as well as rising support. The TD Sequential on the Daily as well as the Weekly is on a green 2 so now waiting for confirmation on a move above ₿0.0216, the Daily green 1 candle as well as triangle resistance. The Weekly green 2 candle then needs to move above ₿0.022215 to also become bullish on a Weekly chart.

Entry once breached ₿0.0216
Stop loss just under ₿0.02 (-7.4%)
Target of ₿0.02611 (+20.9% / 200 Day MA)
2.82 reward ratio.

Better late than never! I thought this trade was dead already.... break even stop loss applied @ ₿0.021751 due to Bitcoin looking as weak as a puppy.
Second position above weekly swing high cancelled due to reason above and as trend has been looking exhausted these past few days.

Own work: dragononcrypto

Own work: dragononcrypto

[Dobmaster]

Yes, indeed, I think that a pleasant surprise awaits us to update the network of ethereum. We will approach $ 210 then again there will be a correction for $ 190

[republicrypto]

your charts is too crowded mate
i think its better to use a price actions strategy to analysis the market,, but its up to you
anyway, the price of ethereum will be more than $200 in the near time, but maybe a little corrections will coming before the price fly higher 
regards

[dragonvslinux]

your charts is too crowded mate
i think its better to use a price actions strategy to analysis the market,, but its up to you
anyway, the price of ethereum will be more than $200 in the near time, but maybe a little corrections will coming before the price fly higher  
regards

My crowded charts have worked out well for me recently so I've got no reason to change them to be honest  
Cheers for the input though. Also correction, it's ETHBTC chart not ETHUSD 

[lab rat hoax]

This is really nice analysis, congratulations. I think we will see $ 210 in USD terms soon. But there is something more important than the rise of the ethereum, What will be the effect of the rise of ethereum on other altcoins? When eth and xrp on the rise last week, vitality had come to altcoins. In other words, as the ethereum rises, this upward movement may spread to the general market. In fact in the short term it's not bad idea to buy some eth and altcoins. This is not an investment advice.

[Yaunfitda]

This is really nice analysis, congratulations. I think we will see $ 210 in USD terms soon. But there is something more important than the rise of the ethereum, What will be the effect of the rise of ethereum on other altcoins? When eth and xrp on the rise last week, vitality had come to altcoins. In other words, as the ethereum rises, this upward movement may spread to the general market. In fact in the short term it's not bad idea to buy some eth and altcoins. This is not an investment advice.

Of course It could have positive effects on the alt market, because ETH is the number 1 altcoin today. So if investors seeing a positive changes in the price and going bullish, we might see some semblance of a rally that will have domino effect on other top alts.

Take notice though that I said top alts, because shitcoins will remain shitcoins and will be just used for pump-and-dump purposes.

[adroitful_one]

I agree the price is trending upwards. However, take a look at the RSI. It will be dipping down at least a little in the next day or two. I would wait until the coming dip to buy in if you're going to. I still think the trend will continue upwards for a little while though.

[jmigdlc99]

Nice chart TS, that really does look good for ETH. Do you have a tradingview account we can follow (assuming that screenshot looks a lot like it's from tradingview)?

Since i agree with your analysis, my opinion is that now is a good time to buy ETH. I guess you could call this stage, "pre-bounce" level since it's already oversold. IF all goes well, we should be able to see ETH at above $200 levels soon.

[dragonvslinux]

Nice chart TS, that really does look good for ETH. Do you have a tradingview account we can follow (assuming that screenshot looks a lot like it's from tradingview)?

The link is in the bottom right hand corner of each post, or should be at least. Each image is also linked to the TV idea published here: https://www.tradingview.com/u/dragononcrypto/

Here's a screenshot update for everyone without accounts, with updated positions:

Looking good and ready to pop to the upside today or tomorrow. Am only taking 50% of the position on a break above today's high, followed by the other 50% moving above the weekly high from 19th Spetember.
This is due to buying into a green 4 on the Daily sequential which isn't ideal, while the Weekly is on a green 3 which is preferred.

Update Source: Trading View, September 30th 2019

Own work: dragononcrypto

[dragonvslinux]

Updated screenshot:

Going according to plan so far...

Slight changes from original trade, higher entry, higher stop loss.
50% of position filled so far as explained above.

Entry @ ₿0.021751 (filled) & ₿0.02223 (open)
Stop @ ₿0.0207 (-4.8%)
Target: ₿0.02555 (17.4%)
Risk: 3.62.

Entry screenshot:

Here's a rough trajectory I'm looking for, after breaking out of the rising channel.



Source: https://www.tradingview.com/chart/ETHBTC/Ba51HbGJ-ETHUSD-Ascending-Triangle-Forming-On-Daily/

Own work: dragononcrypto

[dragonvslinux]

Better late than never! I thought this trade was dead already.... break even stop loss applied @ ₿0.021751 due to Bitcoin looking as weak as a puppy.
Second position above weekly swing high cancelled due to reason above and as trend has been looking exhausted these past few days.

Own work: dragononcrypto