Hi Guys, I would like to wish everyone a Merry XMAS.
This is my take on ETH getting out of this Bear market and turning into a Bull.Since i started a thread on BTC i was also closely monitoring ETH as this is the fuel required to drive most of the ALT coins.
The question always arises when is the best time to buy the bottoms and i can clearly say nobody really knows but at time precise technical analysis could be of some assistance if it make any sense.
To tell you guys the truth i myself was caught out in this bear run when i entered half my positions in the April mini bull which faked out.This time around i made a superb call at buying another position at 91.92 which happen to be a 100% down target of a broken triangle pattern.The only way i did this was by tracking the BTC pattern.The bear run on ETH is incomplete if anything.Please take your time to see my analysis and make any comments.Thank You.
This is the daily chart of ETH where you can see the 91.90 target but in a bear market it is always overdone and it went further down to around the 84 mark and then there was a rebound.
he bottom of this triangular pattern is where lies the 1.618 final down target of 22.32 shall be met where i believe the Bear should end and turn into a Bull market.When this happens it will be in total disbeleive that ETH and the ALT coins are dead and buried but this is what the final capitulation is all about when it is least expected and it turns out to be true.The only reason i have for this comment is that the big boys want to flush out all the weak hands so that they can get their dirty hands at dirt cheap prices where they can later dominate the future block chain markets
Please see the charts below.I have made it as simple as possible but most people would not believe it until this happens and then only they will be total shock.
As you can see there is also a down channel to track the zig zags to reach the final bottom target.
This another pattern i have tracked on the daily when after ETH it met the 100 % down target of 91.92 it rebounded and broke a rev H n S pattern to meet the 100 % 163.62 up target and got rejected.
Have a great XMAS and a Happy New Year as we get closer in turning the Bears into Bulls in the 1st quarter of 2019.
Cheers and have a great one mate.
This is my take on ETH getting out of this Bear market and turning into a Bull.Since i started a thread on BTC i was also closely monitoring ETH as this is the fuel required to drive most of the ALT coins.
The question always arises when is the best time to buy the bottoms and i can clearly say nobody really knows but at time precise technical analysis could be of some assistance if it make any sense.
To tell you guys the truth i myself was caught out in this bear run when i entered half my positions in the April mini bull which faked out.This time around i made a superb call at buying another position at 91.92 which happen to be a 100% down target of a broken triangle pattern.The only way i did this was by tracking the BTC pattern.The bear run on ETH is incomplete if anything.Please take your time to see my analysis and make any comments.Thank You.
This is the daily chart of ETH where you can see the 91.90 target but in a bear market it is always overdone and it went further down to around the 84 mark and then there was a rebound.
he bottom of this triangular pattern is where lies the 1.618 final down target of 22.32 shall be met where i believe the Bear should end and turn into a Bull market.When this happens it will be in total disbeleive that ETH and the ALT coins are dead and buried but this is what the final capitulation is all about when it is least expected and it turns out to be true.The only reason i have for this comment is that the big boys want to flush out all the weak hands so that they can get their dirty hands at dirt cheap prices where they can later dominate the future block chain markets
Please see the charts below.I have made it as simple as possible but most people would not believe it until this happens and then only they will be total shock.
As you can see there is also a down channel to track the zig zags to reach the final bottom target.
This another pattern i have tracked on the daily when after ETH it met the 100 % down target of 91.92 it rebounded and broke a rev H n S pattern to meet the 100 % 163.62 up target and got rejected.
Have a great XMAS and a Happy New Year as we get closer in turning the Bears into Bulls in the 1st quarter of 2019.
Cheers and have a great one mate.