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Trading  | September 29, 2017

Ethereum (ETHUSD) Weekly/Daily

Ethereum (ETHUSD) is showing fatigue after about 2 weeks of bouncing off roughly 200, with the selloff today intensifying after failing to hold the psychologically key 300 whole figure level.  300 also represents the 50% Fib retrace of the fall from roughly 400 to 200.  With daily RSI and Stochastics tiring, and the weekly Stochastics and MACD turning down, the weekly Tombstone forming is increasingly ominous for bulls.  ETHUSD continues to be relatively weaker than Bitcoin (BTCUSD), with ETHUSD serving as a leading indicator for BTCUSD price momentum.  Risk:reward will further improve for bears once the daily MACD blue line flattens and begins tilting lower.

 

ETHUSD (Ethereum) Weekly Technical Analysis

 

 

ETHUSD (Ethereum) Daily Technical Analysis

 

Bitcoin (BTCUSD) Weekly/Daily

Bitcoin (BTCUSD) is showing fatigue after about 2 weeks of bouncing off roughly 3000, with the selloff today intensifying after failing to hold the 61.8% Fib retrace of the fall from roughly 5000 to 3000.  With daily RSI and Stochastics tiring, and the weekly MACD trying to negatively cross, BTCUSD could be in the early stages of forming a downchannel (on the daily and weekly chart).  Risk:reward will further improve for BTCUSD bears once the daily MACD blue line flattens and begins tilting lower.

 

BTCUSD (Bitcoin) Weekly Technical Analysis

 

BTCUSD (Bitcoin) Daily Technical Analysis

Click here for today’s technical analysis on EURUSD

 Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures, spot FX and cryptocurrency markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.


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