Maddie
Short

Possible H&S forming on the ETHXBT chart !

KRAKEN:ETHXBT   ETHXBT
Hi Guys,

Guess what.... Maddie is back!
Because some of you found my chart's ugly i've made a new layout, with a little touch of pink :) hope you'll like it! Im no't gonna make a very long description on explaining patterns etc so, if this head and shoulder pattern breaks it's neckline for more than 1,5 days, than you should take a look @ my price prediction. Everything you need is in the chart, but if you still have any questions, feel free to ask them of course!

Have a great day,
Maddie
Maddie bdimartino
Great analysis and great that we've got the same target ! :)
Reply
(y)
+1 Reply
What do the lines from peak to peak indicate and that pink line all the way below? By the way I completely agree with your view on ETH.
Reply
Maddie Woolhead
Hi Woolhead,

Thanks for your question :)
The lines from peak to peak are just some trend lines. I drew a new trend line on March 5th because then a new peak on the RSI appeared!
I din't post the RSI instead, but if you take a look at the movements on the RSI you'll see that there is lots of bear divergence going on...
That pink line below is just the neckline of the H&S, if this line is broken for over 1,5 days than the pattern is confirmed and you can start calculating the target :)
Hope this answered your question.

Have a great trading day,
Maddie
Reply
Woolhead Maddie
Thank you :)
Also what do you think of the ETH price right now? It just reached 0.0258 again on Poloniex, just a few quirks before it starts dropping?
Reply
Maddie Woolhead
You're welcome!
ETH is having some struggles @ 0.02555 +/- here we've some resistance/support ... We might pop above the 70 s' on RSI for a short time before going down further. ETH need's to build more momentum. This is a very possible level to do so just as around 0.023 :)
Reply
Woolhead Maddie
Now that NYT has featured Ethereum, do you think it breaks the HS pattern? Also, I went long on XMR because it was really low, but it crashed even lower and I have no clue why. I've asked around on Poloniex but nobody could tell me why it crashed. Do you have any idea?
Reply
Maddie Woolhead
Hi there,
If the patten breaks we still see that target. The fact is still that we're very high on the RSI. Besides that I'm still waiting to take more positions, but it could be very possible to break the target. Let's just wait and see :)
XMR went down for several reasons, one of them was the bear divergence. Also the volume started to decline, that the trend line and the EMA line were broken and fomo started. Nothing really special, also the RSI needed to go down after 2 times above 70 s'.
Enough reasons for you? :)
Reply
Woolhead Maddie
I'm very new in this world so I actually have no idea what that all means. Do you have time to explain it to me? It would be immensely appreciated :)
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