Gann Price-Time Analysis Points To Massive Ethereum Leg Higher
Ethereum is outperforming Bitcoin, rising as the top cryptocurrency sinks further. This type of change in the weather in crypto between Bitcoin and altcoins has come and gone in the past, and another altcoin season could finally be here. According to “Gann price-time analysis” Ethereum could begin a massive leg higher, even if Bitcoin dives […]
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Bitcoin price rose gradually earlier today to a day high of around $365. As per yesterday's analysis, bitcoin price failed to overcome the resistance corresponding to the point of intersection between the Gann 1×1 Angle and the 23.6% Fibonacci retracement level at around 20:00 hours. According to the Gann Angles we plotted yesterday, bitcoin price is expected to face another strong resistance level at exactly 00:00 on Monday, which is a few hours away from now. Gann Angles: The beauty of Gann angles is that they utilize some integration concepts from the book of "Calculus" to help us....
Bitcoin price inched further up earlier today to record a high of around $383. Although bitcoin price managed to break the resistance point at 00:00, which corresponded to the line of intersection between the 1 x 1 Gann angle and the 0 Fibonacci retracement level (refer to yesterday's analysis), it dropped below the 1 x 1 Gann angle a few hours after shooting above this key resistance level. Bitcoin Price Moving Parallel To the 1 x 1 Gann Angle: By examining the 1 hour (BTC/USD) charts from Bitstamp and keeping the fibonacci retracements and the Gann angles we plotted during earlier....
Fortunately, last night’s decision to buy bitcoin at around $658 turned out to be quite profitable, up around $30 in under a day. I have not closed that position as I expect that asset to go up quite a bit higher over the next two weeks. Today I want to take another look at ethereum. We last looked at this asset two or three days ago. At that time price was sitting at the top of the square, and also right on the 1×2 Gann angle. I noted that it seemed to have strong support at that level. Because price was sitting exactly on support, I pointed out that this gave us the luxury of placing a....
Ethereum price managed to correct a few points higher but failed to gain momentum, which means it remains at a risk of more declines. Key Highlights. ETH price attempted once again to trade higher against the US Dollar, but failed. There is one more bearish trend line formed, which is just below this week’s highlighted bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD. As long as the price is below these trend lines and the 100 hourly simple moving average, it won’t be able to recover. Ethereum Price Upside Barrier. ETH price yesterday managed to move higher a few....
As this article is my debut article here at cryptocoinsnews.com, I will endeavour to explain the tool I rely on more than any other when trading Bitcoin, forex or commodities. It is called the Gann Square. Unfortunately, like most of William Gann's remarkable discoveries, the Square is overlooked, misunderstood and largely unknown to the trading public at large. In this first article, we will look at the Bitcoin weekly chart, that we may get a long term overview of the Bitcoin market. At the same time, we will also get a rough idea of how the square works to help us locate support,....