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
Woolhead
8 months ago
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
8 months ago
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
8 months ago
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
8 months ago
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
8 months ago
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
8 months ago
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
8 months ago
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 :)
Reply
Maddie Woolhead
8 months ago
Very strange you've asked around on Polonium but nobody could tell you why it crashed, or didn't you just understand it?
Weren't you the one that said my charts were ugly?
Reply
Woolhead Maddie
8 months ago
I've never said that at all! If you look up I just said I agreed with the HS pattern and I asked you questions about what the lines meant. 3 days ago was my first time I saw this site. I know very little about finances and cryptocurrencies and I'm here to learn and to profit. Since you are an expert I thought maybe you could explain some things to me. Nobody on Poloniex answered my question on XMR's crash. They were all hyped up for XPM and ETH.
Reply
Maddie Woolhead
8 months ago
Hm oki sorry might got it wrong but your name looked familiar to me ;p
But ok, I'm not able to explain all that stuff cuz it might be to complicated for a beginner. I'm working on youtube videos because like over 20 ppl asked me for help (A) I'll be albe to upload them in July or so, but feel free to subscribe already. I"ll also upload one vid every week for beginners who want to learn how to trade based on TA or just want to become better in trading.
https://www.youtube.com/channel/UCHbXl8q3lcPyjPaGSLbGKcw
Reply
Woolhead Maddie
8 months ago
That's okay, it's an accusation is a small price to pay for knowledge :p
I subscribed to your channel.
I'm quite a fast learner, so I think I'd understand it rather quickly, so feel free if you want to explain it today :)
Also, do you think XMR will go up again any time soon or will it keep crashing? I still have a long on it and I'm not sure if I should close against a loss or wait till it goes up again.
Reply
Woolhead Maddie
8 months ago
Maddie you've got to see this, http://www.cnbc.com/2016/03/28/ethereum-a-virtual-currency-enables-transactions-that-rival-bitcoins.html
The prices are going through the roof, people are buying 150 btc's at the same time lol
+1 Reply
bdimartino PRO
8 months ago
snapshot

:)
Reply
Maddie bdimartino
8 months ago
Great analysis and great that we've got the same target ! :)
Reply
bdimartino PRO Maddie
8 months ago
(y)
+1 Reply
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