I hope you all survived the black swan event of yesterday. Rather than speculate more on the fate of tether/Bitfinex, lets discuss the technicals on ETHBTC.
Looking at the 1D chart of ETHBTC, there's a pixel perfect expanded flat correction finishing today/tomorrow. The RSI below confirms this pattern.
A stop loss around 0.0245 makes sense as there should be significant support above this level. A breakout above 0.04 sats could see ETHBTC test levels as high as 0.048 and 0.056.
Where the price is now, this provides an excellent risk/reward. Good luck faggots.
I don't think its very likely. The amount of volume since 2017 above the 0.023 level should be sufficient to never have to test below again.
Isaac Jackson
The real pump will begin once we get any info about Beacon chain. Just one tweet from Vitalik, confirming that it is on track to be launched in 2019 still and we'll see a megapump.
Kevin Phillips
if only i could short. I would have made so much money. Any tips on learning meme waves efficiently ?
Ryan Morales
Although knowledge of fundamentals such as this are welcome, TA focuses on the movement of markets without the need to guess the influence of future events.
Jaxson Morgan
I pair Elliot waves with RSI to confirm likely areas for changes of trend. 30,40,60,70 on the RSI(14) are significant depending on the expected larger trend's direction. 40/70 in a bullish trend and 30/60 in a bearish.
Fib levels help give targets for retracements and projections.
Lucas Campbell
checked but how does that correspond with BTC moves? BTC is pretty bearish rn and ETH usually follows suit
Andrew Torres
I agree that BTC's movement has a strong influence on every alt (even ETH). Despite most alts falling as BTC falls, they all fall by differing amounts due to their own underlying trend.
Henry King
nice dubs anyways, bought a grip yesterday, because I remembered how badly I wanted to buy $150 ETH when we were crushing the ATH. The days of 1ETH=0.1BTC are all but forgotten.
Christian Johnson
i love how every TA here on biz is always UP
fucking idiots man
Daniel Clark
I may be an idiot, but I'm an idiot with much more money and success than you
yeah i watched philkons videos too. im trying to go through the actual book and learn everything to learn about waves rather just look at those videos.
Alexander Gutierrez
I've never watched his videos, or any others' videos in the crypto space for that matter.
The best thing to do is research individual indicators without relating them to crypto initially. I would suggest learning how RSI is calculated and you'll soon understand what it represents and why it matters.
Grayson Barnes
yeah i get rsi. Bearsish and bullsih divergence. Im past that. Im trying to get better at my wave count then just 5,3,5
Brandon Young
>USDT >Money
kek
Ethan Baker
cringe cope
Gabriel Johnson
what can you buy with Tether? What can you buy with ETH?
This. With logics you can say: what can you buy with USD (pretty much anything) and what you can with BTC/any alt
Gavin Baker
holy shit checked. what price is a good long entry in your opinion ??
Samuel Morris
I think we're bottoming out sat wise. Depending on what BTC does over the next few days, we could get cheaper in terms of USD. Perhaps as low as $135-$145. Nothing wrong with buying now if you're already in BTC.
>inb4 TA is for faggots not all TA is bad, but this is some shit TA bruh. The more complicated you try to make it the less accurate it is. If you need to draw more than 1 line youre doing it wrong
