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...
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...
Ethereum looks bad, all the important supports were easily punctured, and now we can continue to go lower with the rest of the markets. The closest support range formed within $ 73-78, fixation below which will be a very bad signal. The nearest resistance is $ 100, its breakdown will give strength for a step up, but it will be extremely difficult to rise...
Cardano (ADA) is mimicking BTC moves.
A falling Wedge is forming on daily chart and currently the price is sitting right on support.
Stoch RSI Approaching oversold zone + bullish Divergence can be seen.
RSI in Oversold Region. A Bounce from this area is very important or else we will see 600-700 zone as a bottom.
Potential here for a falling wedge break out.
Look out for:
1) Bottom trendline breaks, but buy the yearly low (Huge daily wick)
2) Buy the bottom trendline of the wedge (Aggressive)
3) Buy the breakout of the top of the wedge (Breakout trade)
4) Buy the pullback after breakout (Bull flag)