MrJEB

ETHUSD - 30m ST Continue?

MrJEB Updated   
COINBASE:ETHUSD   Ethereum
First and foremost, hello! I don't Publish often, this will be a first. I got into TA a few months ago, and have had a close eye on ETHUSD.

With that said, Charting Accuracy has been quite an interesting endeavor with this Pair, yet I am generally enthusiastic about it.

Let's see if the Bulls have anything left after the 15 day beating in the downtrend channel, and the recent dump from $114 to nearly $100.

Looks like a Symmetrical Triangle Continuation with upside resistance at the .618 Fibonacci Level - which is also position at the upper resistance of the downward channel.
Comment:
Conversely, this also looks like a Bear Pennant, and could retest $100 Support.
I'll be watching the march to impulse 5 closely. Short or Long?

Bear Pennant Pattern:
www.chartpatterns.co...andpennantcharts.htm
Trade active:
Update: I little more accuracy after zooming into the 5 min and getting some tighter top/bottom trend lines. We'll see if impulse 4 holds.

Trade active:
Note: Impulse 2 and 4 have Red 9 from TD Sequential - which I believe is a signal of seller exhaustion/reversal (very short term of course - 30 min chart.)
Comment:
Impulse 5 Reached. What Next? Bear Flag, or Bull Break?

Comment:
I guess I got lucky. Bullish Entry into the Triangle, Plus Red 9 on Daily Time Frame was a rather nice indication that validated

Trade active:
Hopefully we are going to go up and test the top of the channel once again, a break above would be huge.

Bull Flag almost complete?

Comment:
A second Bull Flag may be forming, and we're again approaching the Trend line.

The last 3 times these two met, it didn't go so well. Will the Bulls have the momentum to finally penetrate? Are we swapping positions.

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