Ethereum Is Looking Strong, Bitcoin Is Disappointing | Hacked: Hacking Finance


Ethereum Is Looking Strong, Bitcoin Is Disappointing

Posted on .

Ethereum Is Looking Strong, Bitcoin Is Disappointing


This article was posted on Friday, 12:46, UTC.

Ethereum has posted a strong close above resistance that has been troublesome for many days. See the chart below:

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

That 1st arc of the 2nd pair has bedeviled this market for quite some time, but as you can see, the arc has yielded to the bulls. This is not yet a buy signal, as the 2nd arc of the pair still waits for pricetime at around $47. When/if we see a close above that arc we will be given a buy signal. In the meantime, my suggestion would be to wait patiently. Of course, it is possible that the arc will be cleared by the time this piece gets published…

The good news is that when we get a buy signal, the next arc pair will offer resistance all the way at ~ $65.. See the longer term setup below:

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //


Bitcoin continues to struggle more than I expected it would. It is currently sitting once again at the the very bottom of a short-term bear setup.

The blue arrow is pointing to both the bottom of a bear setup and also to the 1st arc of a larger long-term bull setup. Between the two supports, I would expect the market to reverse here. If it falls much further, all bets are off, as my presumption will be that a bear season is upon the market.

Here is a look at the longer term bull setup indicated in the chart above:

As you can see, this arc has been a real problem for this market. I had thought a couple days back that the market was regaining it’s footing, but it appears the bears have not given up yet.  If the support at the arc fails, the next support is at the 2×1 Gann angle (red line) at ~ $875

Happy trading!

Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.

Feedback or Requests?

Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.

There are no comments.

View Comments (0) ...
The team:
Dmitriy Lavrov
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
Jonas Borchgrevink
Jonas Borchgrevink is the founder of and He is a serial entrepreneur, trader and investor. He shares his own personal journey on // -- Discuss and ask Read More
Mate Csar
Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
Mati Greenspan
Senior Market Analyst at // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
Rakesh Upadhyay
Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
Pamela Meropiali
Account Manager
Pamela Meropiali is responsible for users on // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
Joseph Young
Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
If you’re planning to hold bitcoins long term, one of…