With last nights pump we tested the 50 Day EMA, we got a strong rejection off this level confirming the downward momentum towards the 0.786 Fib-extension ($17755) with the high probability of it breaking and closing below this level to test the bottom trend line at $15800-$16000 range. I expect a dead cat bounce off the 0.786 Fib-extension with it topping out...
Back again with some ETHUSD TA.
The overall pattern we have formed is a Falling Wedge (Just like BTC) this gives me some hope that the bear cycle is soon coming to an end however not without more downside along the way and some testing of key support levels. We've been pushed down by both the 200EMA and the 0.5 Fib-Extension giving off a strong rejection off...
Overall I'm pretty bearish on BTC and expect a test of $10K before any up-ward movement. However I do like to TA both sides and highly recommend people to take up this practice.
There is a few expected outcomes if this Falling Wedge pattern playout like it should. We currently have support at the 0.786 Fib-Extension Level ($17597), if we test this level and get...
Update version of my last chart. Showing corrected levels on fib extension while also factoring in the RSI and MACD which are both showing bearish signals.
Expected range is between 9k-10k with heavier support at 10k, expecting it to act the same way 20k has been acting.
The long term trend is showing a lot of bearish signals we are expected to hit $10,000 over the next few weeks. We have a strong rejection multiply times off the descending trendline starting from the top out of the bull run failing to maintain any true support and blasting through any existing support on top of that we have both the 50 EMA and 100 EMA being a...