ETH is pretty much following the direction of its big brother BTC. However, you can see the previous 4hr candle, ETH has surged to right on the 0.236 retrace @ $403.79 and got hit in the face, forming a huge wick on the candle. It signifies that the sellers were able to push the price down significantly. If you are going long, that's certainly not a good sign to see.
If EMA20 does not hold, $342 will probably be the next stop for ETH.
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Taiwan Bear
****************************************************************************************** Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.
Some tips for you: - Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+) - Understand that every trade carries a risk, and don’t expect you can make profits from every trade
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ETH now overbought + double top. Expect to drop soon.
Ignore the news, listen to the huge whale that's squeeze the hell out of bitfinex shorters.
UnknownUnicorn1780802
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shooting star doji
followed by a fat red candle
the good news is, the doji is green color, destruction is not that bad.
UnknownUnicorn1780802
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gdax high was only $395
some dude wanted eth so bad on bitfinex pumped to $404.80
Taiwan_Bear
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@lvg3g, Thanks for the info. $395 is right on the 0.382 retrace. I think it should start going down very soon.
Taiwan_Bear
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@lvg3g, Next few candles will be quite important.
UnknownUnicorn1780802
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@Taiwan_Bear, "Unconfirmed: Polish Prosecutors Seize €400 mln Amid Allegations Bitfinex Is Implicated In Fraud"
Taiwan_Bear
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@lvg3g, news start to come out now.
Tubeman
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Hi Mr. Bear,
Do you still think there are significant probability for BTC to go down to the low 5k or high 4k?
There seems to be a pretty strong resistance around 6.5k.
Thank you