Ethereum Is Up 30% But Shorts Refuse to Let Go – The Last Time This Setup Did...
Ethereum has held above $2,250 as the market builds toward what feels like a decisive move in either direction. The recovery from the February lows has been real and sustained — but according to top analyst Darkfost, the participants who should be most convinced by it are doing the opposite of what conviction looks like. Related Reading: XRP’s Leverage Has Been Flushed Out, But Price Is Still Holding: Find Out What Follows That Setup The context behind that observation starts with how severe the preceding correction was. ETH fell approximately 65% from its last peak — a decline that placed....
Related News
The entire market capitalization of all 10,800 cryptocurrencies in existence is down 2.8% on Monday as bitcoin has lost over 2.4% during the last 24 hours. Meanwhile, bitcoin shorts are rising again after bitcoin shorts tapped a two-year high on the derivatives exchange Bitfinex on June 25. Bitcoin Shorts Climb Higher Bitcoin (BTC) and digital markets, in general, have seen better days as BTC tapped an all-time high above the $64K handle three months ago but is still down 48.66% since then. Roughly 17 days ago, on Bitfinex, the number of BTC/USD short positions skyrocketed to levels not....
Well, as expected, ethereum has turned up, though it was bit sooner than I had been expecting. But this is hardly reason to complain. :) Still, the rather dramatic rise led me to want to take a closer look at ethereum’s chart, so I drilled down a bit deeper and opened a 4-hour chart. (If you recall, up to this point we have looked at the daily and the 8-hour charts.) Here is a bear setup from the high, using the high of the retracement to size my setup. As you can see, pricetime hugged the setup all the way to the low where it bounced off 3rd arc support. At that point it looks like we....
Ethereum is, imho, the play of the day. We have finally gotten a likely close on the long-term daily chart on the sunny side of the 3rd arc. This is not trivial. This development is supported by several other geometric considerations of the chart. For instance, here is a short-term bear setup from the recent swing high: As you can see, we have a significant green candle that occurred EXACTLY at 3rd arc support, and exactly at the end of the 2nd square. There is more. Here is a long-term bear setup of the same chart: This long-term bear setup, most amazingly, ALSO shows a bounce off 3rd arc....
Ethereum has almost made back the gains from previous weeks with yesterday’s upside move and could be gearing up for another push above resistance. The second cryptocurrency by market cap is following the general sentiment in the market and seeing some relief after the influence of macro forces lessened, for the time being. Related Reading: Uniswap Soars 14% In Last 24 Hours – Can UNI Slingshot Past $6? At the time of writing, Ethereum (ETH) trades at $1,330 with a 9% profit in the last 24 hours and a 2% loss over the past week. In the crypto top 10, ETH is one of the best-performing....
After today’s incredible Bitcoin move where the price climbed to $47.5k, shorts worth around $47 million liquidated within an hour. $47,000,000 In Bitcoin Futures Shorts Liquidate Within Just An Hour As pointed out by an analyst on Twitter, around $47 million in Bitcoin futures shorts have liquidated within an hour today. If you don’t know […]