The weekly candle for ETH is going to have a massive wick (shooting star). This usually marks the top...
I just realized
Justin Baker
Elijah Myers
not necessarily desu
Nathaniel Allen
>weekly
who the fuck cares about standard time frames with 24/7 crypto trading?
Ayden Morris
>who the fuck cares
people who trade. it's arbitrary but that doesnt matter. learn how to play the game or the game will play you
Adrian Walker
an enormous amount of bots and trader
if you actually look at the chart you would realize that many pumps or dumps happen right after a candle close
Jose Scott
Whether or not there are retards out there trading and analyzing crypto like traditional stocks, it's not going to behave like traditional stocks
Cooper White
>it's not going to behave like traditional stocks
the market move because of market sentiment, if the majority of this market trade according to candles pattern it will have an influence on the price, period.
also op is retarded eth just closed a pretty bullish weekly candle not a shooting star at all
David Morris
The candle closes at midnight, buddy. ETH trades almost at $250 and is currently chilling near $230. It's gonna be a massive shooting star wick.
Caleb Stewart
the candle close at midnight UTC you fucking retard
the weekly closed 13 minute ago
Daniel Ward
Here what a shooting star should be. Compare both, they are not similar at all.
Bentley Diaz
This candle is much more similar to this one.
Elijah Foster
Fair enough. It's still a rather large wick though. Seemy toppish
Hunter Sanders
It's the same price action as when ETH went to 350, but this time ETH is leading the market, you can tell this because it is moving before BTC, and it just broke TL from the BTC pair. I expect higher highs.
Elijah Thomas
Not if grandpa gets bitch-smacked down off multi-year resistance
Lucas Scott
A fractal.
Connor Reyes
these candles mean nothing at all
only a few specifics candles are clear indication
Hudson Watson
ETH was cheap at 200.. just look at the amount of accumulation on these prices. If BTC falls off a cliff, then the BTC pair will pump, instead of selling for usd, use the other pair.
Yes, I agree with you, I was just saying this was not a shooting star at all.
Jeremiah Flores
come on, volume in crypto is completely meaningless especially on large time frame
90% of this market is wash trading
also whatever eth is doing is pointless if btc decide to shit the bed again
Isaac Ortiz
This thread reminds me of why TA is called Astrology For Men
Benjamin Gutierrez
The BTC pair will pump, but only because ETH won't dump as hard as Bitcoin. Switching back and forth to a correlated asset that will always dump in unison is inferior to tethering up. The point is to get into something stable before the whole crypto market tanks. It's simple math.
Kayden Lewis
ETH was on a broadening wedge and broke it to the upside (you can see increasing volume there), then, by a miracle of god, it came back inside it, that's why there was a huge accumulation there. Dont expect it to fall that way again, since those who bought at those prices wont sell. This is why Ethereum is leading right now.
Volume does matter if the coin tripled the volume in just some months. These are algos using it to trade other pairs. You cant explain this increase in volume with that argument.
Luke Richardson
Its gonna dump to retest the top line of the broadening wedge at ~$125. It probably won't break into it again, but it will back-test it.
Noah Miller
Well, I doubt it, but if it falls there, I'm buying.
Brandon Nelson
>You cant explain this increase in volume with that argument.
of course you can large scammy exchange like binance finex and huobi just started wash trading eth to prop it up
why do you think eth future have been over 80% long for over a month now
Sebastian Morales
OH NO!!!!! D:
NOT THE CANDLE OF DOOM
Lincoln Cox
On the Weekly set up it clearly looks like a third lower high in a row with volume gassing out and that wick just touched the 200-ema looking bearish AF.
On the other hand that five last candles looks like the beginning of and impulse wave so to be quite fucking honest with you who knows.
But these futures longs and normie hype for ethereum in the past weeks yells SELL to me...
Joseph Reed
This dude fucks
Caleb Murphy
It is very simple. This market is populated by algos trading 24/7, each trading a different coin against either BTC or ETH. Each time they make a successful trade, they use that coin to increase its position. Now, those algos trade the trend, and there's a point they dry the selling pressure, so they dont find ether or sats for sale, so they start buying back. It's easy for an algo to ride 3-5% a day, so this increase in volume is easily explained by algos. But, 10 years from now, even if volumes are way higher than today, guys like you will be still claiming the increase in volume is fake. Ok, SOME volume is fake, but the same % of fake volume that there was one year in the past is probably the same % we have today, so the increase is REAL. Total volume may be fake, but % increase is REAL.
Carter Evans
Tell me you dont se clearly that red line of constant increasing volume. Anyone can see. Until when will price fall? until they dry the selling pressure.
Cameron Watson
Forgot the pic. Here.
Dylan Lopez
This dude fucks