TradingView
Smoak
Nov 14, 2018 7:19 AM

Eth/BTC More Down  Short

Ethereum / BitcoinPoloniex

Description

The chart is pretty self explanatory. I think we will hit that orange line in late December. There are a few things going on there and while a bounce would seem likely I it is a 50/50 as to whether it ends up holding or breaking down. If it holds I expect mostly sideways trading until Summer of 2019. If it breaks down we would be looking at a potential head and shoulders pattern that could end up retracing virtually all gains.

Comment

Looks like we will get that hit.
Comments
Msparky
Very troubling
Dion_Dimucci
In total there are 2 confluent trend lines on the log chart



and one major one (dark black line) on the normal chart, with a grand total of 3 trend lines




Dion_Dimucci
Yeah long term trend lines are your friend I found, I learnt my lesson with that when I was new to the space as I saw ETH bounce hard off the trendline in December 2017 :). Nice chart! precisely what I was thinking
More