ETH/USD and ETH/BTC Technical Analysis December 4 2017

Hello and welcome to News BTC’s Market Outlook December.

ETH/USD

ethusd

Ethereum had a very volatile session during the trading session on Friday, but eventually settled on going bullish. We broke to the $460 level, and have pulled back slightly on the hourly chart. However, I think it’s only a matter of time before we break above $460 again, and continue to rally slightly. Because as though, we have had a vicious selloff recently, so there is going to be a lot of fear in the market.

ETH/BTC

ethbtc

Ethereum fell against Bitcoin yet again, and as I said yesterday, I believe the market is going to continue to grind towards the 0.04 level underneath. Any rally at this point should be a selling opportunity, until of course we can break above the 0.045 handle, something that I don’t expect to see.

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Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum broke out during the trading session on Wednesday, clearing the $500 level. It now looks as if we are going to continue to find buyers in the Ethereum market on dips, and we should continue to go much higher. Given enough time, I believe that Ethereum will go looking towards the $550 level as the next logical round number. However, on the hourly chart we are crossing in the overbought part of the stochastic oscillator, and that of course suggest perhaps the pullback is coming before we move higher. Nonetheless, I remain bullish.

ETH/BTC

ethbtc

Ethereum also rallied against Bitcoin, but with Bitcoin skyrocketing over $1000 in the last 24 hours, it’s a most impossible to imagine going long against it. Because of this, I suspect that the 0.48 level is going to offer significant resistance, and we may very well pull back in the short term.

Thanks for watching, I’ll be back tomorrow.

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum continues to go sideways against the US dollar, hovering above the $460 level. I think that Ethereum is essentially waiting for Bitcoin to break above the $10,000 level to feel confident enough to make a serious go at the $500 level. Pullbacks should continue to be buying opportunities, but a breakdown below the $440 level could send this market as low as $400 after that.

ETH/BTC

ethbtc

The Ethereum markets fell against Bitcoin, as Bitcoin looks likely to be the first of the 2 currencies to break out. Because of this, it’s likely that the market will continue to go a little bit lower here, perhaps reaching down to the 0.045 level underneath which should be the beginning of support. In general, I believe that this market is probably best left alone in the short term.

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Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum continues to bounce around, using the $450 level as support. We turned around to form a supportive looking candle, and I think at this point it’s only a matter of time before we reach towards the psychologically important $500 level. A break above there, would send this market much higher. However, a breakdown below the $450 level could cause a pull back towards the $400 level underneath.

ETH/BTC

ethbtc

Ethereum went sideways overall against Bitcoin, as we continue to languish near the 0.05 level. The market should find support in this general vicinity, but quite frankly I don’t think it’s going anywhere very quickly, as both crypto currencies are doing so well.

Thanks for watching, I’ll be back tomorrow.

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum initially fell towards the $400 level on Friday, but found enough bullish pressure to explode to the upside. We have now cleared the $450 level, and it looks as if this continues to be a “buy on the dips” market. The move has been very sudden, so expect some type a pullback so that traders can pick up value.

ETH/BTC

ethbtc

With Ethereum spiking the way it has on Friday, it also has broken out to the upside against Bitcoin. By breaking above the 0.055 level, it looks as if we could continue to go a bit higher. Nonetheless, we are in a bit of a downtrend on the longer-term charts, so be cautious if you are going to go long. Alternately, a break below the 0.05 level would be a strong cell signal.

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Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum continues to explode to the upside, breaking will above the $400 level in thin trading during Thanksgiving Day. Because of the lack of volume, it didn’t take much to push the market higher. Look for pullbacks at this point as potential buying opportunities, as we are most certainly overbought.

ETH/BTC

ethbtc

Ethereum even managed to skyrocket against Bitcoin, gaining over 10% at one point. However, this is a longer-term downtrend that remains very much intact, at least until we can break above the 0.055 handle. Also, stochastic oscillators are starting to cross in the overbought area on a 4-hour chart, so this could be a warning.

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Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum continues to be volatile and choppy and a reasonably tight range between $350 level on the bottom, and $370 on the top. I think this is a simple accumulation phase, and the short-term pullbacks offer value the people will be willing to take advantage of. Because of this, I believe that waiting for a short dip in this market is probably the best way to accumulate more before we go looking towards the $400 level.

ETH/BTC

ethbtc

Currently, this market is going nowhere. There isn’t much to say about it other than it’s probably best left alone, at least until we get some type of significant move. Both currencies are going reasonably well, and consolidating at high levels against the US dollar. Because of this, it doesn’t look like this market will move very much.

Thanks for watching, I’ll be back tomorrow.

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum continues to grind to the upside, reaching the $380 level during the day on Tuesday. This market continues to find buyers near the 20 SMA on the 4 hour chart, suggesting that there should be dynamic support near the $355 level, and the pullbacks offer buying opportunities that we can take advantage of. A break above the $400 level is probably coming longer-term, but expects significant psychological resistance initially when we get to it.

ETH/BTC

ethbtc

This market is essentially “dead money” currently, as both currencies are finding strength. However, longer-term I believe that this market will probably dip, perhaps reaching down to the 0.042 level. Rallies will have to deal with a massive amount of resistance at the 0.048 level.

Thanks for watching, I’ll be back tomorrow.

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

ethusd

Ethereum broke through the $350 level over the weekend, and has since come back to retest that area several times. $350 is now looking to offer support, and therefore I think that we are ready to go back towards the $375 level over the short term. Expect massive support below at the $340 level as well.

ETH/BTC

ethbtc

With Bitcoin reaching all-time highs over the weekend, it’s not much of a surprise that this pair has drifted a little lower. At this point, I would be a bit cautious about buying, as the upside seems to be capped near the 0.048 region. However, Ethereum look strong enough to keep me from selling currently.

Thanks for watching, I’ll be back tomorrow.

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

Ethereum continues to run to the upside during the trading session on Wednesday, but the $340 level looks to be offering a bit of resistance. Because of this, I think a pullback might be necessary, but that pullbacks should only offer a fresh buying opportunity. I believe that the $312 level will now offer a bit of a “floor” in the market, and that we should go looking towards the $350 level above.

ETH/BTC

Ethereum initially fell against Bitcoin during the day, but you can see we are starting to turn around near the 0.046 region. By doing so, looks as if we’re going to try to fight our way to the upside, but I think now we are entering a potential consolidation area between the 0.045 level on the bottom, and the 0.053 level on the top.

Thanks for watching, I’ll be back tomorrow.