This idea is a go if we break above the 0.051 level with force. On lower time frames I see some other bullish signs starting to show. I expect a strong upcoming week or two for ETH.
Also there are some strong fundamentals this week with the Ethereal Summit in NYC on May 19th and Consensus 2017 less than a week away on the 22-24th.
If you look on the Agenda, it looks like there will be an Enterprise Ethereum Alliance presentation on Monday and there are rumors of some potential new partnership announcements there.
The technicals and fundamentals are very strong for the next week or two and I expect to see us break out to the upside in that time.
Let's see where we go!
Again, the technical trigger I'm looking for an entry is a breakthrough at 0.051 ETHBTC.
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Here's a look at the 1hr timeframe.
- Very early kumo twist starting to show. - If we break above pennant and cloud on 4 hr level which is 0.0509-0.051, then expect another leg up and a potential target of $125 range.
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The same level of flat cloud shows on 2HR timeframe as seen here.
We're looking to break through the cloud and pennant and looking to see a kumo twist on longer time frames (2hr & 4hr).
If it occurs as I expect, this could fuel another big leg up.
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We broke through the 0.0509 level, would like to push through 0.051 and see more bullish indicators align before putting more on the line.
This is definitely an early entry though.
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Very clear breakout on 1 HR & 2 HR ETHBTC charts
Off we go! Should be an interesting week for ETH!
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Kumo twist now showing on 2 hour timeframe
as well as 4 hour timeframe
This is the confirmation we were looking for.
Volume is increasing and 20 day MA is back above the 50 day MA.
This very well could fuel ETH to new ATH this week.
Keep in mind the strong fundamentals mentioned above as well.
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I realized it's hard to see the kumo twist described with the upside potential showing.
here's what I meant to show.
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Also seeing a TK cross on all time frames which is another bullish signal.
Let's she where she goes!
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Let's see if we bounce off the 20 day MA here and continue upwards.
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All signals are still bullish on multiple time frames.
Patience pays off. Let's see where she goes.
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Still looks bullish to me on all three time frames.
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Was watching this falling wedge too and looking for a clean breakout back above above 20 day MA.
Looks like we just hit my alert now there. Up we go!
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Looks Like Ripple (XRP) has stolen the show yesterday. It had insane levels of volume. I'm still expecting a nice appreciation of ETH this week.
I wouldn't be surprised to see profits from Ripple spread into Ethereum and other alts as well as Bitcoin.
Let's see.
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Still in for now. Looks like a fakeout yesterday.
Found support on bottom of cloud, we need to see which way it breaks out of the cloud first before deciding what to do with this trade.
Could move sideways for a bit longer before moving up.
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According to another chart I'm watching on Bittrex, we could continue to move sideways from now until friday in the .05 - .053 range before making a decision up or down.
Keep in mind, this aligns with fundamentals of the Sold Out Ethereal Summit on Friday in NYC. (see etherealsummit.com/)
I remain bullish as we've seen higher lows all week since the 9th.
I will reconsider if we break below .047 level.
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Looks oversold here to me. Downward movement getting weaker and looks like there's support at this level.
Fundamentals are still extremely strong with Ethereal Summit friday and Consensus early next week. I remain bullish for now. Could just be a little shakeout before the breakout this weekend? Let's see.
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Here's a look on 2 hour timeframe with candles
Looks like we have support at this level. Only time will tell.
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Here's an updated look...
The support line held, but not really seeing any clear indicators either way on lower time frames at this point. Still sideways movement until it breaks up or down.
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If we look at the daily chart for a larger scope, we bounced off the 50 Day EMA and we have support there as well.
I'm still sticking with my gut that we have one more nice leg up here this weekend at least.