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Ethereum ETH possible REBOUNCE to 3800 and find out why!Hello dear traders, Here is another update for Ethereum ETH-USDT (on the 1 hour time frame chart), after the hefty price movement of the last few days. I would like to share with you these possible scenario's. As said it is a hypothesis, a way to see different views on price action. It is not an advice to trade! I see Ethereum forming the formation of a small head shoulder pattern . Ethereum is still forming the right shoulder at this moment. Only when the price goes through the red neckline the pattern is confirmed. What helps here is that from the head (HS) to the red neckline I see a massive volume. That means lots of traders are still very bullish and believe price will go north again. The other scenario is that the price bounces off the neckline and further drops to the bottom of the descending trend channel. My analyses with the Diamond and the head Shoulder formations on the slightly longer term are still perfectly valid. In short. I expect a rebound of the price to max 3817 USD after which we will dive again. Only if we break the neckline in the chart upwards with good volume of course! If this will not happen than we will almost certainly go further down with a first target of 2873. Lower targets will be discussed later. For now: Resistance 3817 Support 3510, 3161, 2873, 2465 and 1948. Price up after trendline break to the upside and price down if the neckline will not be broken to the upside! One last important remark: This is the one hour time frame. Prices can go up and look bullish while on the Daily time frame it is all bearish. Prices move in waves. This could be a scenario that price rebound because it is oversold. The longer term is still very bearish now! Keep this in mind if you take your positions! This small H-S is still valid until it breaks the low (head). After a move lower than the head we will have a high probability the lower targets will be hit. Traders, use your stops and your money management! This is not trading advice but my personal take on Ethereum. Tradings idea's for traders can be different and that makes this always a challenge. It is not a game but a way to learn and to make profits. I f you appreciate my work it would be nice if you would follow me and give me a thumbs up. That motivates me to continue and help others in these markets. Wish you all good profits!
Long
by PegasusTechCharts
12
DOGECOIN TO $1.00?! - BULLISH ANALYSISAs shown in the chart, Doge is currently holding above a strong uptrend line and bounced off a support level around $0.37. I also ran my Fibonacci tool from the most recent swing low at $0.158 to the swing high at $0.74. Price was in between the 0.5, 0.618 golden zone. If you zoom into the 1h chart, you can see a double bottom pattern as well with both points bouncing off the 0.37 support level. Not only was there a double bottom pattern, Elon sent out his tweet that day on May 13/2021 mentioning that he's working with Doge devs. Price then pumped to $0.50+. Despite all the crap Elon talked about Doge on SNL and the following dump in price, I did not think price would fall below the $0.35-$0.40 area, so it was a definite buy.
Long
by Currency_
Why ADA is pumping, and some reasons to be bullish.Today, Cardano has capitalized on the FUD around Bitcoin and its energy usage. Cardano has worked very hard to position itself as a green, sustainable blockchain. (Just google 'Cardano Sustainable' for examples of that). Musk, in his now infamous tweet, mentioned that Tesla would be considering more energy friendly blockchains for use as payment. Now, back when Cardano did the Mary hard fork, Elon tweeted a picture of a fork - many believe in reference to the Cardano milestone. Putting the pieces together, Musk is looking for a greener blockchain. Cardano is well positioned for that - and signs are that Musk has supported Cardano in the past. This is why ADA is pumping today. Of course, it's widely assumed that very few people actually used their Bitcoin for payment for a Tesla - but that's not the point. The name of the game is sentiment, and Musk threw some serious shade on Bitcoin. Love or hate the guy, he moves markets. And it's an interesting pivot - potentially towards Cardano. If Cardano delivers on their commitment to release the Alonzo hard fork this summer - making it a fully functional smart contract blockchain - there is a path to big things for ADA. Most especially if Etherium's EIP-1159 is delayed or doesn't go as planned. As is, Etherium is running out of time, and Cardano hot on its heels. People's patience for unusable transaction costs is stretched thin, and many view EIP-1159 this year as a make or break for ETH. If you imagine a scenario where Musk endorses Cardano, and Cardano's fork goes as planned this summer - things could get very interesting between Cardano and Etherium. Especially if something goes wrong with the EIP-1159 upgrade, or it gets delayed again. As of writing this, ADA is testing the 1.618 fib at $1.95. If it makes it through, it's pretty clear sailing through around $2.50. If it doesn't break through, expect it to trade between $1.55 and $1.95 for the foreseeable future. Barring any other crazy news of course.
KRAKEN:ADAUSDLong
by holorobo
7
Doge/Usd Simple Price Action Idea (FIRST PUBLIC POST)phycological numbers play in heavy on Doge simply people its speculated on... HARD. so key levels are easy, .35, .40, .45, .50, etc. with taking in consideration of fundmentals (Elon, x3 etf doge shorts, mixed public options etc) i still see a long term bullish trend, playing off key support area now at .45. this is make or break zone now. if we continue to see a bullish sentiment i fully expect a push to .80 and greater. Doge price action, despite recent increases of volume in the past month, has been keeping a healthy path with pull backs and good 45degree trend. stay safe traders! red zone (stop loss area) in this idea would be .385, goodluck!
BITFINEX:DOGEUSDLong
by MinkyTrades
Doge making a inv. H&S in a inv. H&SWe just witnessed a fast drop after a failed attempt to pass the 0.7 usd level. Nevertheless we have reached this level already, so this temporary correction is healthy and may have caused a right shoulder of a wider inverted Head & Shoulders. In the right shoulder, we can see an inverted H&S forming as well. Last correction happened on the support of 0.6 usd, which is exactly the neckline of the larger inv. H&S. All these indicators show that a jump to 0.9 - 1.0 usd is imminent. Only if we would not get back to previous levels again, and break the 0.6 usd support to the downside, we could have a larger correction to the 0.5 usd level, but this is in my opinion on a short term less probable. Remember most posts I saw on TV at the 0.6 usd level, claimed to have a break and correction to the 0.4-0.45 usd level, but were all invalidated due to Doge's bullishness. Above Doge has increased in value with a lower average trading volume, which means the bulls have the upper-hand. Personally I like to invest more in fundamental coins and tokens, but in this case I had to go with the flow after the first large correction and consolidation of Doge and I saw the 0.08 level the best entry, as posted in previous charts. Technicals of Dogecoin are stilll ok. If an insane bullish momentum would happen on very short time, it might be smart to take gradually some profits and swap for underrated top coins, certainly if you have entered the market soon enough. If you are a long term investor, I cannot predict the future, so keep and believe I would say. In the meantime, I see no real threat at the moment. Elon might be really the doge-father after all.. Countdown to SNL live, on NBC, May 8, 11:30 pm ET.
Long
by Wolverinos
3
TSLA - Going to the MoonHello everyone, I hope you are all doing well! In this analysis, we have are moving inside a huge channel and are currently at the bottom. We are sitting on a KEY SUPPORT that I beleive we are going to hold and go to $900. We are seeing a small divergence on the chart and that is why, couppled with this support, which the price has aways held up, I would say that this is the most probable scenario. There is possibility of more bad news and break lower. The lowest point would be $450, however, I truly doubt that this would happen. Currently, only 26.74% of the shares are in profit. Think about how the BIG hedgies would react to being at a Loss, would they Sell or Doubble Down and Average Down their position? These prices are a steal to have for Long-Term investing and 73.26% are bought higher than you would buy now ;) Controlling your emotions is one of the key elements in being profitable in trading and now is the time for the market to test your control. Do not panic sell as there has not been any funadmental changes in the price to bring it down as much with the company, the investment funds are currently in Crypto, so that is why we have fallen so much. As soon as Crypto dies, the funds will flow back. Thank you for the attention, I wish you an amazing Friday!
NASDAQ:TSLALong
by donaitelo
1