If you watched my chart (Dropping the history BOMB) , this is roughly what we can expect, in the case of the history repeating itself.
No surgical precision here, only rough outlines.
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Congratulations to those who bought between my dashed lines on this chart :)
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Anyone took my trade??
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My last post about the possible danger is that im still waiting for the handle for this cup that we have created, as u can see in this post we will extend to somewhere around 600 range Before we dip back to low 500, this will be the handle. If you're not long yet this is Another chance to get in.
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I anticipate the dip in the range of 575-630
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Don't expect the price to follow my lines exactly, they're only outlines. We could go sideways for a bit after any ups/downs so the curve to the new ATH might be a bit longer or even shorter. However my guess is that this run up to the new ATH will be accelerated (we're continiously accelerating the bubble). Every crash will create a higher low - This theory has been proven to be undeniable over and over.
- More importantly - The majority of the popular traders are bearish here on TW.... HAVE ANYONE ELSE NOTICED THAT?? They become bullish when we are starting to get into the very highs when u all can afford fewer coins, and thats when the public starts buying the FOMO again, from there on they're starting to take profits and when we're topping they start calling the crash (correctly so) and they start to pick up your coins close to the bottom. They're taking your easy money.
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They're bullish at the top and bearish at the bottom... Interesting huuuh :D
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If you did not notice, this chart is also showing 2 underlying bullish patterns if they pan out, one is a larger inverse Head and shoulders, and also a cup and handle.
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Earlier Comment: I anticipate the dip in the range of 575-630
I'm gonna put the lower boundary to 630 and the high boundary to 690 instead.
Yes, very bullish... Frighteningly so.
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Actually was a bit higher but yeah :d u can see the chart screenshot above..
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Just want to put this out: We have room to 530 until we hit the support so, it can drop to there and bnounce back and continue the rally without any problems, we have space for it.
However a breach below 530 (should be a closing candle minimum 2h) below this point could indicate that i have overestimated the potential in this rally, meaning that the handle of the cup is taking shape.
As for now we are still pushing but with some resistance on the way.
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We faced some strong resistance around 580, but it's still to early to tell if this is the correction we are waiting for. The bulls were fast to buy the dip from 515 up to 550~. However, we did close below the Rising trendline, if we fail to push back in the next 4 hour closing Candle could indicate that we will consolidate between the support and resistance at 530 and 580. As of now i feel we will make another attempt at 580.
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Just noticed i had used LOG scale on my chart for some reason. If you look at this chart you can see that we clearly have not broken the current trend. We could actually correct a bit more and still keep on pushing.
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You can see that that the vertical movment angle is the one that got broken, but we have another trendline that is showing some significance just below it
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The correction actually happened above the pivot of the wedge from my last post.
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Quite obvious in hindsight :-)
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Update on the ascending triangle, 1H timeframe
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Projection
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Gonna update this chart, it's in log.
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following the trend nicely.
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Free fractals for my followers too :)
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If you follow this long i strongly suggest that you set a stop loss under the trendline that has been holding this rally up since the start. I'm expecting a big falloff after this next push i see us taking to around 630-700~ larger one than the 585-492 ... (Increased volatility).
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*** Reminder ***
This (original) chart is in log but not my screen dumps - so the trendline on the original chart is invalid (Mistake upon making the chart), so the support has actually not broken on the linear chart.
Feel free to look at my latest USD chart, I will try to cover both pairs to degree.
@spartarinaki, I'm expecting a rally up to 600+ still... before we get "the big correction"... sure 580->492 is quite big but im expecting a correction to LOW 400 , but Before that happens i Think we have more gains ...
ethhunter
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We also need to keep an eye on BTC as we are still correlated. thing is my BTC chart says we are going down so let's see... ETH has been leading this rally thus far...
spartarinaki
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When we should expect the dip eventually?
ethhunter
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@spartarinaki, It's difficult to say but a fair guess would be somewhere 650 +- more or less in any direction (625-675 to simplify).
I agree: based on actual channel and Fib retracement I think it can get near 630-640 before another fall towards 550-540