Eth when are you going up? You are downward channel that must go up but when? When I computed the last time the halfway fall,I was thinking that you might fall to $135 if you won't still be able to break and if BTC wont. But now that I see this, will you fall at $80 or shoot up from here now? ;-) I have been drawing a lot of lines and trying to figure out your patterns. Trying to understand you better what you really want to do. When will you give me a better hint> ;-)
We are calculating our shorting approach based on the exact same 1W Channel Down. We are targeting 176.16 and 138.61:
angelsmfg
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@InvestingScope, thank you for your feedback. It's appreciated. I also got a computation of around 135 close to 137 for long-term thinking that it's like a flag or small channel that will fall. But if it's forming ascending triangle once it goes up to 251 and won't go below the ascending line, might have a chance to shoot up?
TheMailMan
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this is literally one huge bear flag about to break lmao
angelsmfg
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@rsdjosh, I HOPE IT BREAKS OUT! IT SHOULD FORM A PATTERN TO GO UP. DON'T KNOW WHICH SUPPORT WILL ACT. THINKING THAT WE SHOULD SEE A CHANNEL DOWN TO GAIN MORE STRENGTH TO COME UP AND BREAK THE BIGGER CHANNEL. WHAT DO YOU THINK?
TheMailMan
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@angelsmfg, i dont know about you but it looks like eth is completing the right shoulder of h and shoulders short term with indicators pointing towards that move. i think we might crash to 200 or 210 today but we will see
angelsmfg
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@rsdjosh, 200, 210 212 IS POSSIBLE, IT IS THE LOWER LINE OF THE SMALL CHANNEL. IF IT GOES BELOW WE MIGHT SEE 168 AGAIN. AND IF IT WILL STILL BE BEARISH WE MIGHT SEE IT GO DOWN TO THE LOWER LINE OF THE BIGGER CHANNEL. BUT ANYWAY, LONG TERM VIEW DOESN'T HAPPEN AND NOT GOOD FOR SHORT TERM TRADING. WE HAVE TO LOOK FOR SUPPORT AND PATTERNS.
angelsmfg
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@rsdjosh, Usually upward channel like what have eth now ( the smasll one) will go down. waiting to see a small downward channel to go up and find its strength from there.