Looks like a falling wedge on the daily timeframe, and we are approaching strong support level. Keep an eye on this one. Fundamentally it's an under-hyped project which could really become a big deal. Virtual land ownership in the first virtual city will be a hot commodity one day i believe.
Since the Ethereum price is entirely dependent on Bitcoin and Bitcoin itself is expected to keep its bearish momentum for a while, we assume an extension of ETH's gigantic falling wedge.
On a final sellout and panic incident, we see the real capitulation between $15 and $25, which would set ETH slightly above its mean before the 2017 bull run.
But note: In that ...
0x:
1) Falling Wedge.
2) Possible Inverse Head & Shoulders,
with right shoulder forming.
3) The cloud remains bearish on the
daily but has flipped on the 4 hour,
creating some bullish sentiment.
4) MACD looks sideways on the daily,
though seems bearish on the 4 hour
5) RSI continuing rising trend on the
daily. May drop down to rsi trend ...
JPM broke out of a falling wedge today. restested. climbed further.
Fundamentally - Jamie Dimon has been very positive on the economy while everyone else has been screaming the sky is falling
JPM has beaten earning (at least) the last four cycles.
I expect they will repeat here. The stock is acting as if its ready to go up.
Not financial advice...if a falling wedge we could breakupward soon...we could also still have room to drop based on the size of the pole of the bearflag we broke down from
I still anticipate we will find a way to break even higher to continue our higher low/higher high series. we have a couple resistance lines to climb from here to achieve our next higher high. Wanted to post an update however to show you all that the target predicted in my last xrpbtc idea has been hit exactly.
My projected target for the falling wedge breakout has a fastly approaching breakout candle finally heading its way. Look through my previous ideas to see but I've been watching this falling wedge for quite awhile now..glad to see it's finally triggering. With this momentum there's a chance it will only continue up after reaching that target...although some ...
Finally appear to be breaking upward from the falling wedge...after tracking many potential trendlines for t it appears the trendlines that went by the candlestick bodies were most valid which made it a smaller wedge with less breakout potential so now instead of a target of 4.1k we have a more conservative price target of $3845. It could continue to bounce once ...
As long as the price holds above 3350 on Bitstamp I think we will see a relief rally to $3650.
There is a distinct possibility that we have put a bottom in for 2018 since the price came so close to the resistance and the $3000 psychological level. Many had predicted a bottom at $3200 as well.
As I mentioned in the related post on the weekly chart linked ...
We're almost there in this falling wedge structure.
The final leg will soon materialize imho, the rising longs, and decreasing shorts are signalling that, then also the three drive pattern of a falling wedge, correction C was not here yet.
Then also the 4h stoch RSI on overbought again.
High probability trade, however, there is a chance of 10-20% that BTC will ...
I see a fall of about 30 pips and more, for the current move.
We are seeing a perfect crossing (really tight), it's like a short circuit.
I'll do more Forex & stock analysis in the future. If you are interested just let me know, and which ones.
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this ...
temporary long as I don't believe we have reached the bottom of the bear market yet...we may see price action go back down to the support of the falling wedge's bottom trendline one more time and maybe even a breakdown fakeout wick a pip or 2 below it but ultimately I think like most falling wedges probability favors a break upward within the next few day candles ...
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