Ethereum Technical Analysis December 28th!
Ethereum Technical Analysis December 28th! Above is the 4 hour chart showing the start of a 4 hour uptrend in rising channel getting support at $670. Major resistance should occur at $775. Parabolic Sar just flipped to a bullish indicator look for this to be broken before a major downswing occurs. Stochastic RSI has crossed in the lower range a very bullish indicator. CME futures will end Friday nothing is holding back Bitcoin back at that point good for the whole market Ethereum has been outperforming Bitcoin during December . Limit ups might push it higher on Sunday when CME futures open. Buying dips should be profitable till Sunday.
Previous Technical Analysis!
Ethereum Price Prediction December 26th!
Ethereum Price Prediction December 26th! Above is the 4 hour chart showing a 4 hour uptrend getting major resistance at $750. On a time scale Ethereum is on an 1 for the 4 hour with signalling a reversal for Ethereum. Parabolic Sar is in a uptrend look for this to be broken before any major downswing occurs. Stochastic RSI is ready to cross into the lower range. CME futures are back this might be the biggest problem for the Bitcoin price and the whole market. Since they started Bitcoin hasn’t seen a green day.If the 4 hour goes red expect more selling.
— Stephan Tual (@stephantual) December 24, 2017
— Blake Bedford-Palmer (@BlakeBP) December 21, 2017
— WikiLeaks (@wikileaks) December 22, 2017
— owocki (@owocki) December 20, 2017
This chart limits itself to indexes of single countries which makes it a great visualization when thinking it through.
Let’s analyze the graph:
Housing market = US only
Nikkei = Japan only
Nasdaq = US only
Cryptocurrencies = WORLDWIDE
While already significant on its own, we are not even halfway with the analysis. Here’s another thing to consider:
Housing market = Houses only
Nikkei = a small selection of companies
Nasdaq = a small selection of companies
Cryptocurrencies = related to and usable in any field including housing, companies, transportation, finance
That’s even more interesting, is it not. But we still aren’t there yet.
Robots, automatisation, artificial intelligent agents. We are at the eve of a whole new sector class that will be implemented in any field imaginable. And oh yes, they will be using cryptocurrencies.
In a few years time, that “2008 US Housing Market” on the chart will look tiny against the cryptocurrencies graph. How tiny? As tiny as the current cryptocurrency graph now looks compared to that housing market.
I’ll end with a quote from the top voted comment here which I highly disagree with:Don’t get too invested in this — it’s for fun and that’s what it is
In a few years, you will be slapping yourself in the face for having upvoted comments like these. This is a once-in-a-lifetime opportunity, and you’d better get invested as deep as you reasonably can.
The cryptogeeks of today will be the owners of tomorrows technology. And tomorrows technology will be quite more powerful than the “gadgets” we have today.
This is wealth redistribution.
Fiat money will become worthless. Technology will be the new wealth.
Access and ownership to distributed decentralized automated machines, robots, agents, will be the new wealth. Access will be granted based on how much crypto you own.
Nobody will be interested in your stupid fiat. They will want the robots.
I’d say it’s mainly speculative, and that the initial investors were there for the tech while most people getting in now are here for the return on investment. I don’t think we’re at tulip mania stage or dot com stage, and my thinking is this: dot com was predicted to be at it’s top when the shoe shine boy was giving out stock tips, right now you could maybe find that 1 out of 5 people know of Bitcoin, but ask those same people about the second largest cryptocurrency, ethereum, and they’ll have no clue. Still early stages, once ethereum is a buzz word then we’ll be advancing more towards mass awareness.
This anecdote was from the 1929 crash, not .com
My friends who aren’t technical have all heard of Ethereum and want to buy some. They have no idea what smart contracts are. My Mum wants some Bitcoin and hears about it on the news everyday. Theres a frikin photo of a family wearing Bitcoin christmas jumpers on the front page of r/bitcoin. This is a classical speculative mania across all cryptos and they are in the middle of a crash which will go way lower than most will expect.
The tech underneath these things is completely irrelevant to the vast majority of people. The ICO nonsense was complete lunacy. They are going to have tons of regulations against them, Tether is going to get hammered and the US and other western Governments are gonna bring some big ass regulations to make sure this doesnt bubble up again. If the next bitcoin cycle was an order of magnitude higher than the current one, when that inevitably crashes, you could damage the economy. Thats not going to be allowed to happen.
Blockchain is interesting, you just need to have the block reward anchored to something stable, not a speculative asset.
You’re right it was 1929 and not the dot com bubble. It’s probably more common that the younger generations are aware of ethereum as well where the majority of the older generations are only exposed to news of Bitcoin.
I agree with some of your points regarding regulation and potential damage to the economy. It’s always difficult to assess whether it will be beneficial or harmful in the long run. I believe governments are allowing it to trade freely and unregulated right now since it’s relatively new and they don’t want to hinder free innovation, but also I think the government’s will run into an issue with fully hampering the price by regulation once institutions begin to invest. If they regulate or worst case make it illegal, billions of dollars will be lost by high net worth individuals, whereas right now it’s primarily retail investors with small amounts invested. I also don’t believe this current downtrend in crypto price will last longer than 2 weeks. It’s a healthy pullback and this is the 4th 40% pullback in 2017.