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0:00:00 Ethereum Technical Market Analysis 18th September 2019
0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “BitcoinNews.com”.
0:00:11 During the last two days a drastic changes concerning Ethereum price movement happen.
0:00:16 After breaking through the black trend line of the wedge, buyers were not very confident at first.
0:00:22 But at the moment buyers are firmly fixed over $200 and are moving up to the $240 which we wrote about in the previous analysis.
0:00:30 Comparing the price chart of Bitcoin and Ethereum, we can see that Ethereum buyers are much more confident and purposeful.
0:00:37 As Bitcoin price continues to move in consolidation and buyers are unable to fix at least above the price mark $10,300, Ethereum buyers are confidently updating local highs.
0:00:48 However, it is not reflected in the weekly timeframe, where the systematic volumes reduction continues.
0:00:54 Despite the small volumes, the weekly candle should scare sellers.
0:00:58 Though, for the same continuation of growth and breakthrough of $240, the current volumes will not be enough.
0:01:05 We want to dilute this positive note with a chart of buyers’ marginal positions.
0:01:09 At the moment, buyers are trying to close their marginal positions for the second day.
0:01:14 According to the wave analysis, Ethereum buyers corrected the previous fall wave by 61.8%. Nevertheless, it is a local wave of fall, which in turn is part of the falling impulse from 26 June.
0:01:27 Half a week behind.
0:01:29 Let’s see how buyers manage to end this working week.
0:01:32 Meet you on Friday for a conclusive analysis of price movements.
0:01:36 We wish you a good mood and good profits!
0:01:39 BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics.
0:01:45 For more information please read our Editorial Policy here.
0:01:49 Thanks for checking this video!
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