Blockhead784

Blockhead784

As mentioned in my last analysis, waiting to see what happens here at the 200 EMA support. It looks like we're not only stuck on the 200 EMA, but also right on top of the downward trend channel line. Of course I can't predict the future but if price drops I have a horizontal support line (blue) drawn at 8000 that also coincides with a support line with touches...

Blockhead784

Hey everyone. I last mentioned waiting for price to retest after breaking up and through the downward trend channel. Was initially thinking it might be the top of the trendline channel that would now be support, but when it broke back down I was looking at the 200 EMA as the next support level which is where we're at. Too soon to tell what will happen but I will...

Blockhead784

As mentioned in previous chart analysis, after the breakout of the downward trend channel, before going long I was looking for the price to come back and retest the downward trend channel line which has now become support. If looks like however price wants to test all the way down to the 200 EMA (Red line). To go long I also want to see a trend, which can be...

Blockhead784

As mentioned in my previous analysis, this is the type of setup I look for before going long. Price broke through the downward Trend channel line, 12 EMA (blue) has crossed over the 36 EMA (red) to the upside, and is now coming back to retest the trendline which is now support, before potentially taking off. At this juncture I wait for the retest to finish and...

Blockhead784

My last post I expected BTC to test the support at 200 EMA, then potentially make a run up at breaking the downward trend line. Price didn't exactly hit the 200 EMA but the area was still support, and price then made a run up to touch the downward trend line. It's close but for me to jump in long I need to see the price break up through the downward trend line,...

Blockhead784

On my last chart description I mentioned we're still in the downtrend channel, all of which is part of a larger retracement from that big move up. I also mentioned that the price might look to test the 200 EMA which appears to be happening so far. The last high was a LOWER high from the previous high, which still supports a down direction. If price finds strong...

Blockhead784

Mirroring my BTC chart comment, ETH is also still in the downtrend channel, just bouncing down off the top downward trendline. I expect price to test around the 625 level which is resistance from both the 200 EMA and 4 touch points on a trendline that started before the big rise in price. By my system I look at the 12 EMA (Blue), 36 EMA (Red) and the 200 EMA...

Blockhead784 Updated 

I saw some charts saying BTC broke through the downward trend line and is now possibly Bullish, but on my Daily chart I never saw that - we're still in a Bearish downward trend. I would expect price to drop down and test support along the 200 EMA next, then we'll see if it makes another run at the top trendline to try to breakthrough. If it breaks below the 200...

Blockhead784

The 200 EMA (in Red) and the downward trendline appear to be offering strong resistance though it's right on the edge. This is also a lower low in this bigger timeframe. If this holds and price goes down I have a target resistance line around 5800. That line is from an earlier price level that showed support/resistance. For me to go long it would have to break...