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

7 months ago
76 in ethereum

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.

COMMENT
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!

DISCLAIMER
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 :)

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68
  ·  7 months ago

COMMENT

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.

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70
  ·  7 months ago

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

53
  ·  7 months ago

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

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68
  ·  7 months ago

Thanks! glad it's of help!

55
  ·  7 months ago

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

55
  ·  7 months ago

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?

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68
  ·  7 months ago

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

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55
  ·  7 months ago

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

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68
  ·  7 months ago

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 ,,,

52
  ·  7 months ago

I'm just learning the ropes.

Enjoy your posts.

57
  ·  7 months ago

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

68
  ·  7 months ago

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.

41
  ·  7 months ago

analysis-meme.jpg

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68
  ·  7 months ago

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

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41
  ·  7 months ago

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.

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68
  ·  7 months ago

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?

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41
  ·  7 months ago

You bet!
Twitter: @HumbleFutures

34
  ·  7 months ago

I think 250$ is the bottom line for Ether.

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68
  ·  7 months ago

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

61
  ·  7 months ago

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.

69
  ·  7 months ago

Another masterwork. Thanks, Oz!

62
  ·  7 months ago

Why this post has 200+ votes, but $0.00?

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71
  ·  7 months ago

it was flagged....

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62
  ·  7 months ago

Thanks

49
  ·  7 months ago

I'm sorry to inform you that you've been flagged by another user (not me! I'm just a helpful bot keeping you informed. Please upvote this comment if you appreciate it.)

29
  ·  7 months ago

I'm sorry to inform you that you've been flagged by another user (not me! I'm just a helpful bot keeping you informed. Please upvote this comment if you appreciate it.)

66
  ·  7 months ago

This post has been ranked within the top 10 most undervalued posts in the second half of Jun 25. We estimate that this post is undervalued by $190.90 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Jun 25 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

71
  ·  7 months ago

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

51
  ·  7 months ago

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