ETH/USD TA
ETH is looking to get back to the weekly 34WMA (white dotted) where it bounced strongly from on the 16th of July. (Currently, it is @ $146). Depending on what ETH does @ $146 will determine its future path. Most likely it will bounce from the weekly 34WMA again, but the energy of this bounce will be critical to understanding what will follow next.
https://www.mql5.com/en/charts/7412944/ethusd-d1-fxopen-investments-inc
And God Bless you once again... We really miss you at CCompare.. Take Good care and have and Excellent Weekend..
Thanks again Srezz for your insights, great as always, however, I was exactly on the same boat as you were when you posted this and when the ETH/USD was $180sh.. I saw it going down to $140sh (speaking of that, I didn't know that point was the weakly 34WMA, your 13, 34 and 89 numbers never stop impressing me) and then I was surprised with the next day rise with a 1d close slightly above the 1d 13WMA! I still can't find a reason for that, what do you think?
Markets are irrational. So, it's pointless to look for a reason. That's first.
Secondly, 13, 34 and 89 are not my numbers, - they are Fibonacci numbers, and what's important about Fibonacci numbers is that they relate to each other at the Golden Ratio, - the God's language of Heavens and Earth.
And last but not least, - the upward spike so far is within the limits of my analysis.
I was watching this earlier in the morning. Fascinating stuff.
hey srezz, i have known about the Fibonacci sequence and golden ratio for a while but there is a part i dont understand: how can Fibonacci numbers accurately predict any behaviour from a market?
Thanks a lot for your explanation and your emphasis on the Fibonacci numbers, It is always good to hear from experts like you, much appreciated
These charts make less and less sense to me. I was expecting the price to drop more, especially before 1st, instead its pumping like crazy
Thanks Srezz!
Thanks srezz you are amazing for doing this.
FOr tomorrow, if the fork in BTC causes mass panic for BTC holders and they dump into ETH for "safety" could it be enough of a pump to restart the cycle of ETH back into the "Hype" phase? It wouldn't be a secure pump I would gather, if BTC recovers from the fork, all that momentum would disappear again... I guess my question is could the fork cause enough disrupt to alter the current path of ETH in its downward trend.