Chart of the Day: Ethereum coming in for a landing? by wildtrader

ethereum · @wildtrader · Nov 18 '18

$44.80

Chart of the Day: Ethereum coming in for a landing?

![banner logo.png](https://cdn.steemitimages.com/DQmVngVC3d3dEcR2Y9DPRR4x8QKgnzRLnimnGgW9nKqRYyY/banner%20logo.png)

I don't like to show Elliott Wave analysis on tradingview, as the tools are not great, but I have data anomolies in Motive Wave right now, which make this triangle not clear. Currently I see a very clear triangle on the Ether and Bitcoin charta. I see this triangle as iv of the circle three labeled. We should see Ether come down into the $140 area as I've been calling. Ideally Bitcoin comes into the $4600-4800 zone, per previous charts. However, while I'm scalping this triangle for the short trade, unless the circle 4 correction is very clear, I will not short. If my count is right we should get a violent bid out of that zone, so I'm going to be cautious as it could take my head off. Further, there is always a chance I'm off by degree. Chances of that run high on a chart of such small timeframe. So, I give my trading some slack and I do not try to capture all of every range. 🔥

Good luck everyone. Let's see if this ends our bear market.

![Screen Shot 2018-11-18 at 10.14.24 AM.png](https://cdn.steemitimages.com/DQmXGuSmemphY2mJUQpin7tpBBxUojNWs8YtJzfuy3oTsPQ/Screen%20Shot%202018-11-18%20at%2010.14.24%20AM.png)

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👍 rocky1, therising, postpromoter, jerrybanfield, newhope, anotherjoe, timm, mangos, michealb, zaku, steem-ua, wildtrader, vaansteam, marlon6, bluesniper, kahookadad, catchawhale, rishan, escapeamericanow, timm-caja, accelerator, steemchoose, maarnio, uktr, nfc, roswellrockman, merlin7, road2horizon, hawaj, tobias-g, yoogyart, xmrking, etasarim, joejoekeys, niel96, pagliozzo, ronpurteetv, hugo4u, vyaduka, garrettwallace, cifer, ananas.studio, pierlave, carnivorefeed, tdiv7653, zikkson, bobbelcher, thecrazygm, adamantino, familytree, zannat, avirush2018, mitrin, neyda1975, donasteem, up1, fortinbuff, lindabelcher, smellslikebots, forexlive, epm, rechardmin, larster, laugh74, and 20 others

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@zikkson · Nov 18 '18

I use tradingview every day and its great in my opinion. But yeah everyone has different taste. Can you tell me what is better in Motive Wave than Tradingview for you, please?

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)

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@wildtrader · Nov 18 '18

If you're an elliott wave person it sucks. The fibs are linear even if the chart is log. And, the elliott wave labels do not zoom or snap when you change timeframes. IF you are not a elliottician, and you don't care about log fibs, it's fine. I use it every day but not for elliott wave.

👍 zikkson

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@larster · Nov 18 '18 (edited)

I recently found out that if you use Fib Channel instead of Fib Retracement at the bottom of the toolbox it will at least give the correct percentage levels in log.

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11 replies

@zikkson · Nov 18 '18

Cool thanks. I am not elliott wave person, so thats it :)

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)

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3 replies

@wildtrader · Nov 18 '18

Well, the triangle died, but we're still under resistance.

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@steem-ua · Nov 19 '18

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@larster · Nov 21 '18 (edited)

Target area is reached and the daily and weekly RSI has already reached deepwater levels throughout cryptoland but the brutality of this (last) sell off looks like it's not over yet. 

So what matters more the fib resistance or the structure? Well the sentiment indicator has still some space left to scare the hell out of the hodl community.

![](https://cdn.steemitimages.com/DQmYrJe8JHcpSLfeHBvPh5U7H3z1RiompYs62oFfRoS71i9/image.png)

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@wildtrader · Nov 21 '18

I've got us extending now to $110-$100. A little below ideal long term support.

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@larster · Nov 21 '18

Ah OK

Hope you've noticed my last post about the fib tool some days ago. Think it shows the right levels or?

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2 replies

@andrekweku · Nov 25 '18

I’m thinking of buying Ethereum now. Do you think it’s a good idea?

👍 jadabug

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@kahookadad · Dec 8 '18

Hey wildtrader, its been too long since your chart of the day.  How about taking a look at quarkchain (qkc).  Thanks!

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