$ETH/BTC Poloniex Technical Analysis June 25, 2017.

in #ethereum4 years ago

Hello Steemers!

Doing an update for ETH/BTC today, last one was on Jan. 02. (https://steemit.com/ethereum/@ozchartart/usdeth-btc-poloniex-technical-analysis-jan-02-2017)
I added some yellow lines(0.0372, 0.0578, 0.1531) on the weekly and light blue on the daily chart

weekly chart Poloniex - Jan. 02, 2017

weekly chart Poloniex - June 25, 2017

Since the beginning of the year ETH has changed the trend, going into a very mild uptrend till March when it then started to go up with big gains, first reaching a new high at 0.0578 BTC (also near a (blue) Fibonacci line), and then shortly after a small retrace continued with and even stronger uptrend making a new high at 0.1529 BTC hitting the highest Fibonacci target, making the overall rise since January count for an amazing 1994.84%!

daily chart Poloniex - Jan. 02, 2017

daily chart Poloniex - June 25, 2017

On the daily chart you can see the waves that the price was doing while going towards the high, and the drop is becoming more and more clear now on the daily chart with the price being traded just shy above the 0.112 BTC line while it already spiked a little bit bellow it twice.

Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!

If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
Please post the links to your TA's posts into the comments as well!

I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.

Kind Regards, OZ :)



Overall I am expecting ETH to enter a pretty hard downtrend and aim for the area marked with the yellow rectangle as the bottom (between 0.0578 and 0.0372 BTC).

weekly chart

On the daily I added a purple rectangle and a green one above the yellow one marking 2 areas which i see the price doing some bounces in, I added the purple and green lines as an example of what I expect the price to be doing (understand that I this is just a simulatiuon I dont expect the price to be doing exactly that in such a timeframe).

daily chart

People might argue that ETH just started, but I'm here giving my perspective only from the charts, no news, or whatever included into this analysis, it made 2000% gain since start of the year, so I expect a nice retrace in the following months.

Ah man, I'm not too hyped up about this :(

Thanks you for your work , saved me some time. Upv you 100%

Thanks! glad it's of help!

Nice TA oz, I also have a prediction for ETH here.

I think 250$ is the bottom line for Ether.

I never ever view ALT/USD , only with BTC, so dunno what that would equal in BTC once it hits due to BTC changing price also

I'm just learning the ropes.

Enjoy your posts.

very good post,thanks,,,,,,,,,,,,,

Yeah. Kind of agree ETH trend has turned in the near-term and could develop in the longer-term. Some negative news in prior weeks probably the catalyst.

depends on the person, but for me in crypto, yep

People who knock technical analysis don't usually trade.. they invest... but they usually don't understand the difference. I've been a trader for 15 years... technical analysis only. "Traders" who use fundamental analysis are usually ADD junkies who need their opinions spoon fed to them from someone they "trust" and/or they feed off the false prestige that is associated with the appearance of being able to consume and analyze large quantities of data.
In reality you need a little of both with the balance being more tech for trading more fundies for investing... but those who sling hate usually fit the bill I described above.

15 years! impressive! I do both, I trade and invest, and I couldnt agree more that a combination of both fundamental and TA is the way, and I also do that, I would never go into buying a coin from a project which has no activity on both sides, chart and community and development,,,, is there a way to contact you(some chat or so) besides steemit?

Great post ! thanks for sharing really enjoy all of your posts. Which coin you think would be a good investment in the short and which one in the long term?

uff there are allot of them with good potential longterm, all the big projects like STEEM;BTS;FCT; IOTA;ETC, etc etc
on the short term one has to go looking deeper thou, for coins that havent pumped yet

thanks ! What do you think of Minexcoin, it should be launched in the next week or so ?

uh, I usualy go for coins that have a history on the charts, I dont usualy do ICO's, gave it a brief look, looks like a fancy version of HODL coin ,,,

Things looking scary for short term traders. I recently convertered some btc to eth and it is looking like a bad move. I have to buy low again as your chart suggesting to average the price .

Good thing is that ETH has long term good potential so not worried much.

Another masterwork. Thanks, Oz!

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Hello, jesi za kofi u gradu? :) napišem ti na chatu!

@ozchartart: Thank you so much for finding your time to share an insight. It was useful. Can't thank you enough.