ETHUSD today analysis, 191004. Last one more drop is needed

Тема в разделе "English", создана пользователем Trading Ideas, 3 окт 2019.

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    ETHUSD today analysis, 191004. Last one more drop is needed
    Ethereum / US Dollar (calculated by TradingView) POLONIEX:ETHUSD
    Hello, my friends. It's Cryptoranger K.

    As of yesterday I switched my position to ETH to Long. Just because my trading style changed positions doesn't buy it right away. However, from now on, we are going to work on figuring out where to buy ETH. I was worried and sorry that some of you might have gotten a buy right after seeing my post yesterday. For that reason, I would like to explain this in more detail.

    Yesterday I looked at the 50-day line of the weekly chart and saw that ETH was about to complete its decline. I'm not sure if this will lead to an upside or sideways consolidation, but I felt certain it was a move to close the decline. The problem is that the chart's 50-day line isn't perfectly upright yet. I posted yesterday and thought about it for a while. This is how the current ETH chart looks like.

    1) Considering the flow of the 50-day line, we can see that ETH is trying to turn the trend upward.
    2) The 1 week candle is still below the 50 day line.
    3) Now, before the 5 and 10 day lines create an intersection.
    4) The 20-day line has just fallen.

    Let's talk about '2)' first. If I (or we) buy the ETH, the first point is when the candle goes through the 20 day line. Along with this, if I have to talk about the last buy point, I will say without hesitation that the candle is on the 50-day line for a week. (This is only for this time.)
    You can remember the big drop in BTC that started on November 5 last year. Then everyone shouted, "The drop is now over. The BTC must go up here."
    But then there is something that everyone overlooks.
    That is, the candle did not rise above the 20day line.

    3) The current ETH chart will create three intersections soon. 5, 10day lines cross and 10, 50day lines cross. Considering the fall in ETH, it adds up to 5 and 50 day lines, so three intersections await us. The problem is that the current candle is located below the 50 day line. If the current one-week candle rises sharply and the next week's can't be made above $ 190, all of these intersections are expected to act as resistance to the candle.

    "Is it likely that ETH prices will rise sharply here?"
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