Go Etherium, GO!!. Unfortunately I was so wrapped up with analyzing BTC and smaller Alts that I did not buy enough ETH, nor did I take enough time on its chart or I would of noticed the nice period of consolidation occurring and the long term hold above the 1 hour trend line. I was lucky in that I bought a fair amount on Bittrex as a store of value against BTC while BTC was getting beaten down by the $14,000 longer term moving averages. 

![12.png](https://steemitimages.com/DQmQVNCkTKfwnzp1nsybE7ynu86pRwpPsEcyLeeiBNSbDtG/12.png)


Well on a positive note we are in a 12 hour buying period, but we are still below the longer term moving average around $14,000. We need to break this and stay above it for some recovery and hopefully serious gains. Basically all is as it was yesterday, we are still waiting to see if this 12 hour period has sufficient conviction and buying enthusiasm to turn the 1 day, 3 day etc. In the event that it does we could pull $15,000+ or so. Let us keep our fingers crossed.


![2hrbuyponts.png](https://steemitimages.com/DQmfFqnJwxTDTYiCijUEFCrSSJRZbSpPVD7yBYqc6qqnerW/2hrbuyponts.png)


Last night I posted an image of the 2 hour with projected moving averages. At current the 1 hour is bouncing consistently above the longer term 77 which will bring the moving averages for the 2 hour up in a commensurate amount of time. The 1 hour 77 stands at $13,200 which is below the 2 hour 77 of $13,700 so it will bring the 2 hour 77 down while bringing the lesser 7/21 from the 2 hour up. I hope that makes sense. Essentially we are hoping to get the 7 and 21 from the 2 hour time frame to cross above the longer term 77. Once it does the 77 will begin to act as upside support for future gains. There will be a few crosses above and below by the 7 but hopefully the 21 will stick once it breaks through. I will post my drawing from last night as well as the updated one from this a.m.

![2hr maybe.png](https://steemitimages.com/DQmWQGNwMESv88K5GxquX2zoUf58tBjbBLm5bBhsY5J1njX/2hr%20maybe.png)


As you can see the 77 is trending down and we have finally at least been able to break price above the 77 if only for a minute. As the longer time frames, 6, 12, or in a buying session I would expect that there will be sufficient momentum for a break through. That said we are not out of the woods as both the 1 and 3 day are decidedly bearish.

![bch2h.png](https://steemitimages.com/DQmXDPjVwF65aViXuyaxAJ5hZpAmEf6mD3KYXtuZkqXQGca/bch2h.png)
<center>Bitcoin Cash 2 hour </center>

BCH, is entering a solid 12 hour buying period after a somewhat brief period of consolidation. In the chart above the 7 on the 2 hour has followed price and broken the longer term 77. This is essentially what we are waiting to see for BTC. Hopefully the 21 will follow and price will stabilize in the mid $3000 or better range during this 12 hour period before entering the next wave. At current I would call this a buy, I expect a pull back to $2500ish again today at some point as it tests moving average support.   






Previous Analysis:

https://steemit.com/bitcoin/@pawsdog/1-1-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-31-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-30-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-29-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-28-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-24-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-19-2017-the-market-view-and-trading-outlook

https://steemit.com/bitcoin/@pawsdog/12-17-2017-the-market-view-and-trading-outlook






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<a href="https://steemit.com/life/@pawsdog/hello-steemit-creative-talented-writer-and-trade-analyst-entering-the-community-r1">Who Am I?  STEEMIT INTRODUCTION </a></center>
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