3 July 2021
Welcome!
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We will use 1) Ichimoku Cloud, 2) Support Resistance (using box), 3) River (moving average), 4) GMMA and Woodies CCI, 5) Bollinger Bands and Moving Averages, and 6) MACD to analyze crypto currency chart. See our reading of price action.
What we do is to translate price action chart into layman language for you to understand, ie Picture worth a thousand words. You can learn this too. All analysis read the price action chart differently. It is just like any essay, very will have different conclusion.
Trade well.
Ethereum Crypto pullback like Bitcoin, true or true?! We did a correlation between Ethereum Crypto and Bitcoin correlation. See link, Correlation | Ethereum and Bitcoin Correlation Chart | Power Moses Cryptocurrencies Chart | AmiBrokerAcademy.com.
1) ETH | Ethereum Crypto and Ichimoku Cloud
Ichimoku Cloud is a trend following strategy tool. We see Tenkan Sen trending up from last October till May this year. In between, Tenkan cross below Kijun and retrace up twice. Bull trend ended May, and begin to close below cloud and stay below cloud.
Ichimoku Cloud is a multi-dimensional indicator designed to offer support and resistance levels, trending, and entry and exit points. Price Action after test the high and pullback to close below cloud. Price Action stay below cloud, ie bear trend.
Price Action below cloud and like forming double bottom.
Trade what you see.
Manage risk is a key in trading.
Moses Free Charting
2) Ethereum Crypto and Support Resistance
Price Action goes from low to high and pullback. You can see price action goes from bottom left to top and pullback. However, the price action fail to go higher in May. From the box, the month high low May is the most volatile month. 2000 Dollars is a great level to stop the price action from falling. When 2000 dollars fail to hold the price action, 1400 dollars will be next support level. Trade with eyes open, and manage your risk.
We use box to box month high low to find a key level. See chart. We have plotted two strong levels. Can the support hold the fall? Will see.
Trade what you see. Manage your risk.
3) Ethereum Crypto and River
Moving Average is a great visual tool. Raghee uses high, low and close 34 EMA to form a band to determine the wave direction. Price action is currently close below 34 EMA and 34 EMA slopping down, bear trend? Trade what you see.
Down trend seems strong, price action close below River. River cross draw near 200 MA, dead cross is in progress. Price Action trapped between Fast (34 EMA) and Slow (200 MA).
From a different view, we see price action supported by support.
Manage your risk.
4) Ethereum Crypto and GMMA and Woodies CCI
Price Action and Fast MA (green) crosses down under Slow MA (red), Fast MA (green) and Price Action both stay below Slow MA (red). Price Action is resisted by Fast (green). Can the price action retrace above Slow MA (red)? Will see. Trade with eyes open.
5) Ethereum Crypto and Bollinger Bands and Moving Averages
Price Action and moving averages:
ETH-USD, Ethereum price action has closed below its Short time (20 period) moving average.
Short time (20) moving average is currently below mid-time (50), AND below long time (100)moving averages.
All three, 20, 50 and 100 MA are above 200 MA. But all MA are converging.
Bollinger Bands:
ETH-USD, Ethereum price action has closed above bottom band.
Bollinger Bands are narrower than normal.
In addition, can you also see a big ABCD wave pattern, currently has completed AB, BC legs.
Manage your risk.
6) Ethereum Crypto and MACD
We see price action continues to go higher next the price action close below the last low, and Ethereum lost the energy to drive price action lower. Remember all these can not come without any signals.
Don’t take MACD lightly.
7) Ethereum and Bitcoin Correlation
Moses Power Charting
Official AmiBrokerAcademy.com Charting
Disclaimer
The above result is for illustration purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stocks of such are mentioned, they are meant as demonstration of Amibroker as a powerful charting software and MACD. Amibroker can program to scan the stocks for buy and sell signals.
These are script generated signals. Not all scan results are shown here. The MACD signal should use with price action. Users must understand what MACD and price action are all about before using them. If necessary you should attend a course to learn more on Technical Analysis (TA) and Moving Average Convergence Divergence, MACD.
Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here. It should be used as learning aids only and if you decide to trade real money, all trading decision should be your own.
We learn from many past and present great traders. Kudo to these master.