biffbifford

biffbifford

The chart clearly indicates that bears have been controlling price action. This is clearly indicated by the resistance the 50d MA is having on sentiment. Professional traders looking for long-term plays seek to determine if the price action is above or below the 20d MA, 50d MA, 100d MA and, the 200d MA as a tell for bullish or bearish sentiment. IF ETH can close...

biffbifford

They popped this pimple and made me some dough. I'll take it. I am no longer dollar-cost-averaging in unless the same setup (high short interest and under $200) happens again. What a great Monday. I will take the week off from ETH. We broke the 50dMA but petered-out around $240. I do not believe the longs are prepared to take this higher than $240 anytime soon...

biffbifford

The rounded tops indicated in the chart are indicative of a bearish sentiment. Unless some huge buyers come in, it may be inevitable we will hit the next lower level, SOON. As long as we trade under the 50 DMA the overall sentiment is extremely Bearish. The short interest in HUGE and with no solid interest in ETH at these levels -- lower prices seem to be in...

biffbifford

It is very clear Bears are charge of price action at this point. Until buyers step up and squeeze ETH, we can look forward to more sideways trading before the next fall south. Bitcoin is the same. I am seeing 6k for Bitcoin as a realistic number in the coming weeks. Do not despair. If you plan to go long take my advice from my previous post and Dollar-Cost Average...

biffbifford Updated 

If you have followed me since my first chart on Tradingview, I called the obvious Bearish conditions facing ETH. I explained that Cryptos are valued by speculator optimism and irrational exuberance. There is absolutely no way to value a crypto-currency. I am not just an investor (Seriously Dyslexic Investor), but I am a software developer as well. I have been...

biffbifford

I do not have a position in ETH but feel we are at a very interesting point. I am posting this even though nothing from my previous analysis has changed just because I find this point in time very interesting for ETH. As long as we trade under the 50 DMA the outlook for ETH is BEARISH. Notice the downward trendline holding firm. No doubt there are sell and buy...

biffbifford

This has been the typical trading pattern for ETH. I would worry if we fell under $200. This reversion to the mean over the past 3 weeks is easy to see with the volume profile. It will take new's to jump-start this crypto. I wrote why I thought this was happening in another post. Longs should be more pragmatic. The buyers have all dried up, but I do believe they...

biffbifford

I have been dead on in analysis of ETH. I have been fair in my criticism and honest in my holdings. I still believe we are consolidating and the closer we get to upper logarithmic channel line noted in the translucent blue, the probability is high we will fall again. I did accumulate at an average of $215 and sold @ $229. I have no position. The sentiment on the...

biffbifford

Any move north will be met with heavy resistance technical indicators which have held since May-2018: One might be able to scalp $20 to $30 USD from any move north from here, but the likely scenario is a full break down of ETH. The chart reads like a death signal for Bulls and a happy-face for Bears. I accumulated under $220 as I indicated in my last analysis and...

biffbifford

Now we have the third touch of the daily upward trendline. There seems tremendous overhead resistance and tremendous support below. The volume we have seen in buying was accumulation and fixed price buying; nothing worthy of driving the price higher. The daily trend seems natural with respect to accumulation and resting before the next leg up. It is very difficult...

biffbifford

This is the key moment where Etherum is going to choose a direction, imho. The 50-day moving average has only been crossed bove once! The trend still favors the downside. I believe the 50 DMA and the upper band of the logarithmic trendline have been holding as resistance. I am guessing the probability leans to the downside as the indicators I mentioned have held...

biffbifford

This is quite obvious accumulation. There are buyers jumping in when ETH falls under $200(USD), but why? It has been my feeling that the Etherum Platform is not fast enough to handle the exponential growth ETH has experienced as of late and transactions have been limited due to hardware limitations. This was my personal feeling then, and this is my personal...

biffbifford

Well, we had our close below $200 but I was too chicken to pull the trigger on a short. There has been too much accumulation at these levels and I felt it wouldn't be long before we were back above $200! The volume profile is clear... we are in a consolidation trend that could last weeks. There is a strong belief that there is value at these levels and the buyers...

biffbifford

I think that most ETH-Crypto believers claim ETH is cheap at these levels when no one knows how to actually value a crypto. So this argument is simply stating ETH is cheap at these levels relative to ETH's all-time-highs. I am of the opinion that some faith in crypto has been lost at the moment while the staunch believers seek a chart that will validate their "to...

biffbifford

ETH has been consolidating for the last 4 days. Historical there has been a 4 to 6 bar consolidation period before a move up or down. At these levels, with this volume, there is a high probability we remain between $200 and $230 (POC at about $220). I can appreciate the work of other individuals who put time and effort into their charting analysis. What I do not...

biffbifford

The long-term trend for ETH is still in bearish. It appears another reason for the most recent sell-off is quite a few companies funded their IPO's or other projects using ETH, and have recently liquidated at a rate 3 times more than they did in August. The weekly trend is best for those looking for a long-term short, or a long-term hold. I have seen some really...