ETHXBT: Analyzing the multiple signals on chart

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If we use Time at mode, we can detect patterns of accumulation and distribution, and use the order flow to position ourselves advantageously in any instrument, as long as there is sufficient liquidity in it to be tradeable.
In the case of Ethereum, we had a signal trigger in the weekly recently, which suggested a potential 170% rally would start, that would last up to 9 weeks.

The rally has exceeded the target, very dramatically I might add, but still has time left in it.
For the time being, I'll be observing the price action around the key support levels on chart, and monitoring for uptrend continuation signals to get involved in this market again.
The decline on chart has one more day left before it can be retraced, theoretically.
That being said, the fall has been considerably steep, showing increased volume, which makes me think this is profit taking in a large scale.

I reccomend caution, but if you want to hedge your BTCCNY or BTCUSD long exposure, maybe ETHXBT isn't a bad idea, with sufficient technical arguments.
I'll update the chart as we move forward. The weekly uptrend shows there's time left until March 13th, so, stay tuned for updates.

Cheers,

Ivan Labrie.

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After today's close, the downtrend is failing.
We might be forming a triangle here.

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We have a new mode lower, it's possible to expect one more leg down from this zone. You can short with a 1 atr stop, or wait for the downtrend to end to go long.

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In 3-5 days we can expect a new rally, IF we don't break down 45% before!

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We might form a lower high/M top situation here.

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Double top formed...not safe to short in general, simply stand aside until you get a clear long signal.

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Verdict: very little time to hit targets, and unlikely to go higher than the yellow line.

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Upside is in serious question now, ETH has 3 weeks to hit the upper target including this one...It also has opened up the downside back to the uptrend starting point, in 8 weeks.