9 out of 10 wedges breakouts have been reversals on the 15 min chart in the last 10 days. Price is currently pushing below the supporting trend line. i think it could fall off here pretty far
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I realize the wedge is kind of sloppy but that has been the trend on the last 9 or 10 that completed.
Dude you bought Ether at $17!!! That's awesome. You must have a shitload of it then hahaha
Drewskickinit
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I just bought into BNB and XVG also. I really think theyre both gonna have magnificent weeks
timbertown89
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I bought Ether at $17, so believe me, I'm a long term bullish to the point of insanity. However, in the very short term I'm beatish af and am holding some cash hoping for some heavily discounted ether.
I've been in this for over a year and it definitely feels like we're running out of buyers ATM.
Tbh I think we could fall to $380. If we start going down people will start capitulating and we'll go down fast.
mortymortician
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@timbertown89, yeah ive just been playing the short game day trading and swing trading the rise since about 4 weeks ago. thought i would share something that caught my eye. well done on the 17 dollars a coin my friend, can i come party on your yacht?
Drewskickinit
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Lol!! I'm sure no one reads these comments I was just trying to keep you from missing out. Ether is in a really nice Channel moving up right now. It's gonna fluxuate both ways until we break out of the channel. It looks like we're poised to move up too $780 in the next couple days. The powers to be in this market will manipulate it as much as they can but Ether is as safe a bet as there is right now. Stay calm and patient. Your initial thoughts are correct
mortymortician
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@Drewskickinit, thanks bro! Hell yeah im prepared for either way. I have seen a lot of guys posting the channel formation. I have been making money playing the wedge breakouts on the 15 min charts and noticed what looked like the same thing forming up so thought i would share
Drewskickinit
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How about this if it goes below $650 then do it but until then just hold tight. It's Monday don't let the slow weekend make you think it's falling apart
mortymortician
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@Drewskickinit, ok changed to neutral. ;) thats better yeah?
Drewskickinit
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Are you on drugs!! The market is killing it right now only a fool would bet against Ether. Do yourself a favor don't short right now and end up in the poor house
mortymortician
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@Drewskickinit, Demagoguery is strong with this one. Im well aware Ive been riding it the whole way up. Im not actually short, im just saying thats what the pattern says. momentum has slammed into 700 zone pretty hard several times and been rejected. Believe me i would love for it to keep going and it will eventually, but right now it looks like optimism buoying the market