ETH Inverted Adam and Eve (Improved Version)
This is an improved version of my last idea about ETH. This time it's on the weekly line chart to reduce noise.
The target is a bit higher this time ($700-$750). But you should consider that this pattern contains a lot of noise even with this improved version.
Multiple weekly close above $1900 would invalidate this. Personally, even one weekly close above it will make me to start feeling bullish about ETH.
The target is a bit higher this time ($700-$750). But you should consider that this pattern contains a lot of noise even with this improved version.
Multiple weekly close above $1900 would invalidate this. Personally, even one weekly close above it will make me to start feeling bullish about ETH.
Bình luận:
We have a dangerous parabolic down trend on the 4h chart. Let's see if this is the rejection.
Bình luận:
Here is the 4h view:
Bình luận:
BTC looks good. We'll see if it's enough to invalidate this. I think a visit to 25k-27k range is completely reasonable.
Bình luận:
Incredible sell pressure on NASDAQ. We gonna find out soon i guess.
Bình luận:
1h chart looks like a redistribution:
Bình luận:
And here is the update to 4H view:
Bình luận:
BREAKING: ETH
Bình luận:
1h update:
Bình luận:
I see bearish things about ETH on all timeframes. Merge narrative (A seven years old news) pushed ETH from $900 to $2000. It can easily lead the market downward just like it did upward.
Bình luận:
1h update:
Bình luận:
If you think "It's down too much." No, bears are playing well so far. Just remember ETH was below $900 3 months ago. Everyone knew very well the merge was going to happen back then. So don't be surprised. Trade the pattern.
Bình luận:
I'd expect big sells around here. But since we don't have them (yet), we might have a bounce.
Bình luận:
A bounce I wouldn't trade.
Bình luận:
Bounce is still too weak. It's still at that point you can't trade.
Bình luận:
Not a bad bounce. I think if ETH can hold it above 1500 for a while, it might have chance. Otherwise, continuation might be aggressive.
This is also some kind of distribution pattern. Even a UTAD is possible of course(~2100). But that would probably make this pattern invalid.
This is also some kind of distribution pattern. Even a UTAD is possible of course(~2100). But that would probably make this pattern invalid.
Bình luận:
My first target hit ~1350.
Bình luận:
~1250 is a big level. It's the range that this really is built upon. I wouldn't be surprised if we hit 1300 quickly and try to touch 1250.
Bình luận:
I'm considering taking a long as a hedge ~1300
Bình luận:
Let's see if this little parabolic trend ends with blood or bounce:
Bình luận:
eth/btc is dumping hard. it's another interesting chart. some kind of distribution. Imagine BTC holds 17k but ETH goes to 700-750. Is it too crazy?
Bình luận:
Blood it is.
Bình luận:
I think it's bounce time. Expecting a spike above 1500.
Bình luận:
I'm not convinced that this movement will be the next leg down for BTC yet. I think 17k-18k will hold. And if it does, we get a good bounce, this will look like a nice accumulation range. That's the interesting part. In that case, BTC will lead the market for a long time. So I think current trade is get a BTC long as close as possible 18k and hope it holds.
Bình luận:
I think BTC will leave the bottom fast. No matter if it's just a correction, another zic-zac, or the real rally start. The possibility of this being the real bottom should create some thrust.
Bình luận:
I guess we'll stretch 18k more. More is better as long as it holds.
Bình luận:
I think if BTC survives today's FOMC we might see a start of a rally. BTC is in a chop mode for the last 3 months. BTC.D is at a big support. Really the only thing that worries me about the market is this ETH pattern. Not even macro. And NASDAQ is bearish TA-wise.
It's weird that the only thing I'm bullish about is BTC. Maybe BTC will just chop further while ETH goes to ~700. Maybe BTC will hold while everything else including US markets goes down.
It's weird that the only thing I'm bullish about is BTC. Maybe BTC will just chop further while ETH goes to ~700. Maybe BTC will hold while everything else including US markets goes down.
Bình luận:
This weird channel on the 4h chart makes me think another big stop hunt move might be close:
Bình luận:
Zoomed in version:
Bình luận:
A fakeout followed by a rejection. Sure it looks bad but I feel like eventually this weird thing will break up not down.
Bình luận:
Bình luận:
One of those moves that is not made by retail 100%.
Bình luận:
Bình luận:
I'm not surprised at all with BTC holding around here. But ETH should not. if ETH keeps holding, I'll doubt about BTC too. I wanna see ETH breaking down while BTC holding.
Bình luận:
I'm still expecting big scam pump before the next leg.
Bình luận:
Trading is straightforward sometimes. If it loses 1200, it's bad.
Bình luận:
Maybe, one little spike above 1500 might be enough:
Bình luận:
We have pressure, let's see.
Bình luận:
This is starting to feel like market is pretending "holding". Too long chop and dump.
Bình luận:
I think today might be an important day. Or tomorrow. DXY is so close to a resistance in my chart.
Bình luận:
Wow DXY is going crazy. Maybe we will see a blow-off top.
Bình luận:
Pound crashed while everyone was waiting crypto to crash lol. Interesting times.
Bình luận:
I really am ready to start feeling bullish about crypto but I wanna see BTC gaining strength not shitcoins.
Bình luận:
BTC might wanna fill this triangle:
Bình luận:
I think 20.600-21.000 is the big resistance. Bullish if can hold above. My target will be ~27k if we break the above structure.
Bình luận:
I still consider this move as a liquidity hunt although I'm neutral about BTC for now. But I am bearish about US markets. I'm bearish about the last rally leader ETH. So in general I'm bearish about the market.
Bình luận:
Things are looking bad. Maybe this little hopium will be enough for the next leg down.
Bình luận:
Maybe this is the part that we think it's down too much but it keeps going down.
Bình luận:
Should this scam line hold eth? At the previous ath possibly? Maybe. But the pattern is better for me. It's the maximum fear. Just imagine the sentiment when eth hits $700. Imagine how everyone will believe eth is going to $500, $300 or even zero lol.
Bình luận:
And the chart above is a monthly chart. We can easily hit $700 but close the month above the scam line.
Bình luận:
I've seen this thing many times during this bear market. Often ends very badly. Faking a trend reversal with great pressure to the downside.
Bình luận:
Hourly looks like an accumulation range now. Closed shorts just in case.
Bình luận:
I don't care about an hourly accumulation in a bear market. But this is not a place to take shorts. Might be good a place to take profit if you are in a good short. Maybe refill later. It's a 10 days range.
Bình luận:
I just refilled at $1330 with ~$1350 stop loss. Another just in case trade. 3% higher than my last tp.
Bình luận:
My short survived for now. Not sure what to think about this bounce for now. Might be the first leg of a big one.
Bình luận:
I think it's going up for now. I'll dca short 1500-1600 if I can.
Bình luận:
Hmm?
Bình luận:
Feels like market needs a big scamp pump but US markets won't allow it lol.
Bình luận:
What a chop.
Bình luận:
Too much jebait too much chop. I think it should come down one more time even if it's gonna pump.
Bình luận:
Next move is going to be big. That's all we can say right now. Great effort to get rid of the inexpreinced trader or the gambler.
Bình luận:
Wanna long 1270-1250? I guess I don't:
Bình luận:
Closed the day above the support. Gotta say I'm impressed by this effort. But... Idk I can't get rid of my strong bearish bias.
Bình luận:
I've tried to find a counter argument to the bullish range above in the same timeframe. This is all I can come up with. A rounding top. But I think at least one more confirmation is needed to take this seriously:
Bình luận:
I've just realized calling this rounding top is ridiculous. Because it's not a top. It is a bottom lol. But you know, this is the inverse of what we want to see. Ideally, we wanna see "dump->hold->fake breakdown->reclaim the hold level->consolidate->send". This often creates a rounding bottom. This makes people "Omg we've lost the support." But at this bottom price first made a low, bounced and created a lower low shortly after. Then created the range. I think this doesn't make the same effect on retail. People probably be like "Oh we bounced quickly from a support and holding now, so i should hold." Idk just my chain of thoughts lol.
Bình luận:
Let's see:
Bình luận:
It's a fight:
Bình luận:
If bears lose this on eth, I'll focus on this possibility on btc. If bears lose this too, then yes rally confirmed for me:
Bình luận:
Hmm, i like this as a bear :D let's see what others think here:
Bình luận:
Ok i think bears are losing this right now lol. I'll just focus on BTC for a while:
Bình luận:
c'mon send it :D i am sick of this chop.
Bình luận:
btc is almost there:
Bình luận:
I'll short 1420 if it comes. See if i can take some profit and move my break-even higher so i can build a good position.
Bình luận:
Shorting a range breakout might be a bad idea but:
1. Inverted adam and eve pattern on eth.
2. Descending triangle pattern on btc.
3. I don't believe that the FED will pivot yet.
4. Sentiment is still turning positive quickly. I don't believe markets suffered enough.
1. Inverted adam and eve pattern on eth.
2. Descending triangle pattern on btc.
3. I don't believe that the FED will pivot yet.
4. Sentiment is still turning positive quickly. I don't believe markets suffered enough.
Bình luận:
eth/btc is another descending triangle:
Bình luận:
On the low timeframe i'm expecting a little pullback and continuation:
Bình luận:
This slow movement is not bad news for bulls tho. It makes it super hard to degen long. Trapping shorters constantly because the sentiment is still generally bearish etc. It's slow for now tho. We'll see how the next move is gonna be.
Bình luận:
Update:
Bình luận:
Another short idea. 12 week ema (currently ~1490):
Bình luận:
Shorting that would look like this on the daily chart. Good? Idk depends on how bearish you are :D
Bình luận:
~1490 is also 0.5 correction of the last uncorrected dump. And my first short target ~1420 is 0.382. Now that's interesting.
Bình luận:
eth/btc is trying. it doesn't look bad (yet). If this breaks up, I'm gonna reconsider my short targets:
Bình luận:
We know that this market fakes the fake of the fake tho. So at first eth/btc breakout will mean nothing to me. If;
1. Breakout with great strength. Leaves everyone behind,
2. Consolidates above the support for some time and breakout again,
Then yes, you wanna be on eth's side against btc.
1. Breakout with great strength. Leaves everyone behind,
2. Consolidates above the support for some time and breakout again,
Then yes, you wanna be on eth's side against btc.
Bình luận:
ETH/BTC update:
Bình luận:
BTC update and a bearish case:
Bình luận:
Why not? I'd like to see something like this to call it a decisive bear victory:
Bình luận:
On the other hand, ETH/BTC is consolidating nicely. Facts:
Bình luận:
That's it. I'm bullish about ETH/BTC. There is nothing to be bearish about this right now:
Bình luận:
And i've canceled my short orders around 1420. I'll keep the orders around 1490 for now.
Bình luận:
I stay positive about short-term in spite of this :D
Bình luận:
Look ETH/BTC it's still beautiful:
Bình luận:
ETH/BTC still beautiful:
Bình luận:
Why do I care so much about ETH/BTC? Because when ETH was at retest around 1800 I said that ETH will lead the market downwards. And it did. Now if ETH/BTC shows strength that could mean either we are in a correction to the upside or it's a big trend reversal.
Bình luận:
It's really hard to ignore all of the negative posts and everything on social media right now lol. Considering the state of the US markets, yes there is a risk obviously and thus i am not taking a long position but I am certainly not expecting a crash. Even if it's gonna happen I'd like to see a clear redist. pattern at this point.
Bình luận:
I took a small long but it's one of my just in case trades, nothing serious :D
Bình luận:
ETH/BTC still beautiful btw. Someone is buying eth that's for sure. Someone not retail.
Bình luận:
This is how you play it right if you are a bear, imo:
Bình luận:
And if you are a fan of rsi divs, here is a good one on the hourly chart:
Bình luận:
Aaand it's gone wow lmao. Ok we got some bears.
Bình luận:
Is this a redistribution? No.
Did we test the descending triangle? No.
Did the markup and markdown leader ETH, make a 0.5 correction after such a long trade range at the bottom? No.
Is the sentiment bearish? Yes.
No further questions.
Did we test the descending triangle? No.
Did the markup and markdown leader ETH, make a 0.5 correction after such a long trade range at the bottom? No.
Is the sentiment bearish? Yes.
No further questions.
Bình luận:
I just closed my eyes to the news and bought the dip a lil bit. Let's see if my TA tells the truth.
Bình luận:
Play like this and i am with you bears :D
Bình luận:
We can also talk about a bear flag on the daily but I want another confirmation :D
Bình luận:
ETH/BTC still good, consolidation:
Bình luận:
Layers of consolidation. I wish i could long ETH/BTC without buying both coins :D Although I am bearish about it mid-term/long-term.
Bình luận:
I am still long and I intend to keep it until the market proves me wrong.
Bình luận:
Ok now it's doing something ugly. But it's too early to talk about the next move:
Bình luận:
Update. We are testing this bearish pennant .ETH/BTC has a failed rally on the hourly chart. I still insist on my expectation. I say "Not yet".
Bình luận:
Ok the pennant is broken. Fake breakdown is better than a perfect bounce:
Bình luận:
Now the market has the chance and the reason to dump. Let's see if they will.
Bình luận:
Failed rally led to a breakdown on ETH/BTC. It's still bullish if it can hold the range tho:
Bình luận:
Not a good pattern:
Bình luận:
I'm still long but losing confidence honestly. Have a stop loss on break-even price below 1250.
Bình luận:
More on low timeframe. I think this is a decision point. It has to choose on of the channels to enter:
Bình luận:
I mean look at this. This is like loosing the last hope, with a failed retest:
Bình luận:
On the other hand, if it runs some stops below 1250 and then comes back into the range, i'll probably market long.
Bình luận:
ETH/BTC is trying to reclaim the range.It's kinda amazing that it found support at the point that my rounding trend intersected with the range low.
Bình luận:
ETH/BTC update. It'd be nice if ETH can hold around 1300 until the CPI data today.
Bình luận:
It looks kinda sad on this view honestly. But it's early to talk:
Bình luận:
I got out with some profit @1296. I think we'll test some lows. I'll look for a good entry.
Bình luận:
I wanna see a couple of hourly closes above 1310. Or I'll try to long range low.
Bình luận:
CPI data is bad. It got rejected from the broken pennant. NASDAQ has at least 3-4% room downside in my view. So I thought why not a range low test at least.
Bình luận:
The moment you see something like this, go all in. Forget about the FED forget about this Adam and Eve pattern. Forget the bears. Long it. Put a stop loss slightly below the range and wait.
Bình luận:
... Because this is one hell of a range right now. Something you should not underestimate.
Bình luận:
If you think this is not possible, you might lose some money in the near future:
Bình luận:
ok wild test :D i longed 1258. let's see what happens. btc.d is sending. eth/btc tested the desc. triangle. it's wild for alts but shouldn't get any wilder or i am out.
Bình luận:
ok i got out. looks terrible. never seen a more ridiculous move. something feels wrong but anyway we'll see what happens.
Bình luận:
did my short-term bias changed? actually no. i'd never short this. there is no strong TA argument for me to short here. maybe we're just forming a bigger range around here. idk now. this is wait and see time for me.
Bình luận:
i mean what is this? if there was a real bearish momentum we should've crashed already. idk feels like a jebait:
Bình luận:
Before the bears finish their victory lap lol:
Bình luận:
I got a small long from ~1250 but let's see. I don't trust this state of the market. Eth dropped too deep for me. Yes they pushed it up immediately but that doesn't do it for me, yet.
Bình luận:
Tell me this won't go all the way up, even break the structure up. idk...
Bình luận:
if we gonna do something like this i am with the bulls.
Bình luận:
Up only? I'm ok with that :D They are playing it dirty.
Bình luận:
I wasn't expecting a wick below 1200. Thus I am mostly shaken out too. (Kept small part of the long from 1250). But this was a good TA lesson anyway. I am sorry if you shorted the bottom of a bullish range.
Bình luận:
Is ETH really accumulating? Idk. A few things don't fit but i am impressed anyway.
Bình luận:
2 long triggers:
1. breakout + consolidation + breakout
2. retest
1. breakout + consolidation + breakout
2. retest
Bình luận:
Idk this doesn't make me really confident but not bad:
Bình luận:
ETH/BTC is also "not bad"
Bình luận:
Forget everything, forget this is ETH chart. Just look at this and make your decision. What i see is that they baited the bears 2 times. They had a chance to sell everything, crash everything but here we are.
Bình luận:
What i wanted / expected to see vs. what's happening right now:
Bình luận:
I still think anything between 1450-1500 is a great short btw. At that point, you short it with a reasonable stop for you, and hope it's a redist. range not an accumulation range.
Bình luận:
Another weird channel. Maybe it wants to stay boring.
Bình luận:
Yeah it wants to stay boring.
Bình luận:
State of the things. Dangerous but not hopeless:
Bình luận:
ETH/BTC needs to bounce here or it'll look bad:
Bình luận:
Chop... Chop never changes.
Bình luận:
I think DXY is breaking up. Let's see if crypto can resist against the pressure of other markets. I'm a TA guy. I can't see strong bearish trend coming soon. First the trap.
Bình luận:
This is getting ugly:
Bình luận:
Oh nooo, bears are jebaited again? Hmmm?
Bình luận:
They are constantly jebaiting. Amazing.
Bình luận:
This is what happened since i drew these 2 long trigger scenarios. The last retest wasn't bad. A little more consolidation will make it better.
Bình luận:
And i have to say this range is looking more and more like an accumulation range. If it breaks up, I won't try to short it until I see some really clear bearish signals.
Bình luận:
It's in the grid. Getting closer to the range high. Good luck bulls!
Bình luận:
B-but ser, isn't it the end of the world? Why isn't it crashing?
Bình luận:
I think this is still the only short trade that makes sense. I might try it by risking very little capital.
Bình luận:
Do you imagine a bright future for ETH? I do, sometimes.
Bình luận:
Ltf not bad, is it?
Bình luận:
Update. I love rounding bottoms but let's see. It's low timeframe anyway.
Bình luận:
This is where we are in the range. This is not an ugly move. I think it's gonna be a breakout. Then it'll decide what to do.
Bình luận:
Let's say 1430-1500 is safe-ish short area. Above that, there is almost nothing for bears until ~1700.
Bình luận:
My long is almost all closed. I have small short orders between 1430-1490 but I'll take very little risk until i see some bearish signs.
Bình luận:
Wow ok that's aggressive. You can't say ETH didn't earn it tho. Bulls worked hard.
Bình luận:
This is a good first move. Now let's see the consolidation, please?
Bình luận:
My short orders are filled with an average of $1480. Took some profits and break-even is $1500. Have stops above 1530. This is the best i can as a bear for now. We can't talk about a solid up-trend yet. So we will see.
Bình luận:
BTC desc. triangle update. Breakout is not a surprise for me. Not at all. But an up-only would be a surprise. Remember what ETH/BTC did after the breakout of desc. triangle. I'm expecting same kind of fuckery before building an up-trend, if it's going to build one.
Bình luận:
Daily close. This candle is undeniably bullish. Here is a bullish and bearish case. I'm a mid-term bear but I have to say this candle favors the green case.
Bình luận:
Another important thing about ETH is this downtrend break. Here is a big accumulation range case.
Bình luận:
It has to pullback or we'll probably see something like this. Good old bart.
Bình luận:
Update. I don't like it BUT levels i thought would be resistance are destroyed. Hard to choose side for me rn.
Bình luận:
I mean ok, up only, bottom is in bla bla. But there is no trend. This is a full blown squeeze.
Bình luận:
ETH/BTC same.
Bình luận:
This is some weight for the bulls.
Bình luận:
Ltf update. I still think deep pullback is needed. Then we'll see if the bulls step in or not. I'm not claiming they won't at first. This move deserves a big top structure.
Bình luận:
Personally I'm holding a short with 1545 break-even price because i think it's worth the risk to start building the short around here.
Bình luận:
To make it more clear, I scaled down my short dramatically around 1530 but never closed. Added some, took some profit etc. and the break-even is 1545 now with an easily scalable position size.
Bình luận:
This played out very well. I'm thinking ~1470 as the first important tp point.
Bình luận:
This is a dangerous look on BTC. Retest makes it dangerous.
Bình luận:
Now i got a BTC short as well. from 20.560. i tought it's worh a try. stop above 20.800.
Bình luận:
I guess we all forgot we had a perfect bear flag, right? Are we distracted enough?
Bình luận:
Oh bull market started? lol. i didn't close anything. Because i didn't feel like it :D Sometimes things go south in trading. If you manage your risk well it might make sense to wait instead of run away immediately.
Bình luận:
For ETH/BTC I think we should consider the possibility of this being a range retest instead of a correction. And this is a distribution range, fyi.
Bình luận:
I'm just focused on 1700-1800 retest. This kinda things happen in bear markets. If you feel bullish at major resistances, check your biases.
Bình luận:
Would you believe a bull market starts with DOGE leading on a weekend right before FOMC meeting? There are crowds who do apparently. I've seen the same scenario in this year. Social media is full of bear mockery. In such a risky environment. Maybe the second worst environment in the century.
Bình luận:
And i think there is a widespread misunderstanding about FED slowing down. Even if they do it doesn't mean a QE. And look at the DJI. You think it's at a bottom? Do you really think all the risks and the current QT is fully priced in?
Bình luận:
This is how MM sell a bear rally, imo.
Bình luận:
People will never believe their favorite bull guy on twitter if the market crashes here. It'd be very interesting to watch.
Bình luận:
Healthy correction, r-right?
Bình luận:
Here is what would make me bullish vs real eth chart. I think this explains my bias clearly.
Bình luận:
long, right?
Bình luận:
Some people are comparing these 2 boxes but i don't think it's tradable.I see their point. It's the general idea of accumulation but:
1. By comparing these two boxes you are making a claim based on only 1 data point in this chart.
2. Previous bottom showed clear signs of momentum change at the exact bottom. You can clearly see it was coiling up. Rounding bottom.
3. I think lower timeframes don't support this idea.
4. Different economic environment. More risks etc.
1. By comparing these two boxes you are making a claim based on only 1 data point in this chart.
2. Previous bottom showed clear signs of momentum change at the exact bottom. You can clearly see it was coiling up. Rounding bottom.
3. I think lower timeframes don't support this idea.
4. Different economic environment. More risks etc.
Bình luận:
I can also add previous double top was a different structure. The spring is between the two tops. This one is a single top that is confirmed shortly after.
Bình luận:
What a dream :D
Bình luận:
I don't really think we need another hunt above 21k to visit some lows. The move is not so big anyway. The double top itself was a good trap imo.
Bình luận:
BTC still bearish. BTC.D looks really bullish. Alt season but for bears i guess :D
Bình luận:
I think this is important. This is the most bullish thing on BTC chart rn. You. can fine tune it a little bit but it has to react around here. Oor fake a breakdown but I wouldn't bet on it, especially about a parabolic trend.
Bình luận:
It's all up to FED at this point. Clearly the market built some hopium on the chart. If FED shows hawkish determination signs today, I think we'll say bye bye to hopium. The number one rule of trading is not fighting the FED. TA shows different options on different views, timeframes.
Bình luận:
I think Powell dictated the direction. I'd be really surprised if i'm wrong.
Bình luận:
I think a UTAD makes sense here.
Bình luận:
Ooor this is it :D BTC not looking healthy.
Bình luận:
Ok so, no corrections or anything. Straight to the new highs :D cool.
Bình luận:
So looks like we are having a failed rally right now. As expected. But at this point i gotta expect a UTAD on BTC. Market wanted more for some reason.
Bình luận:
Look at DOGE to see what's market doing. That PA alone is whispering crash to me.
Bình luận:
You know it's hard to preserve your bias/opinion in a distribution or accumulation phase. I'm struggling like everyone else but I don't trade the opposite direction until i see that thing i thought accumulation/distribution is invalidated.
Bình luận:
I'm starting to see $700 targets on twitter. That's sweet :D Another 6 moths of chop? lol.
Bình luận:
as disgusting as possible