On the log scale ETHUSD is basically sitting here at the bottom of a gorgeous channel with a beautiful technical setup in place.
Trendline here shows a very important support level. Breaking that ($395'ish) would trigger all sorts of technical sells.... As if we haven't fallen enough already.
Elliott wave call here plus volume plus sentiment. All pointing to this being the low at around $439.
The recent regulatory and EOS-caused panic this week has brought ETH down to a great longer-term buy point. Just above last year's important $400 support point and with all sorts of bearish-looking formations above, like this head and shoulders formation, I'm confident we'll see a pretty good relief rally soon to negate this massive short-term bearishness.
Looks like BTC has more to go here in fact. This could be one hell of an insane blowoff top by the looks of it. The bots that before were jacking price higher and higher have been accumulating quietly here and volume is starting to dry up dramatically now. I think the area of $13k-$20k could be a likely target within 2 weeks however the CME futures in mid-December...
Pretty self-explanatory. This is a classic parabolic topping pattern in action. Revisiting the top here now but momentum is no longer there. There's a lot of 'air' below price here and with a lot of 'sell the news' events coming up in the form of the CME bitcoin futures going live and no more forking coins to collect a 'dividend' with, there's little reason for...
This is overall a simple ABC corrective wave off of a monster of a rally that climaxed with the Part 1 Byzantium hard fork of Metropolis. From here we could very well see a wave 3 double-monster of a rally that breaks above $350 and reaches the upper-$300's in short time, right on time for the DevCon3 lead-up.... .... Having said that, this is also a dangerous...
Basic rising wedge here that's about to break down based on volume drying up at the recent $305'ish peak. Target is $240 which might also lead to another bounce off of that long-term rising trendline I referenced in previous posts. I've sold a chunk of ETH and will buyback in that $240-250 area. Hopefully that $240 stops it though, otherwise it could get ugly...
Inverse head and shoulders trendline here which was broken out of yesterday and is now being revisited as support. This is a technical breakout and is a technical buy here due to it trying to find support for a sustained move. The lack of volume though is keeping it from actually moving anywhere though. Nonetheless though this is a technical breakout.
Bancor angered a lot of fans and had a very greedy crowdsale process which really exemplified crowdsale madness, with its $150 million raise, which coincided right at the ETHUSD top in June. Since then it's been a dog and anyone who got in has likely had buyers remorse. But it looks like 'morale' is about to improve in a huge way here with Bancor, starting with...
In my long-lived Crypto-trading experience... These are probably the most accurate, reliable patterns in Crypto. I've never seen one this large though so it might not work out. Breaking below $200 or so would invalidate it. So we'll see how much juice is left in this decline. Overall this targets a breakout by DevCon 3 and a $700 price target.