CheddarBizcuitz

CheddarBizcuitz

Strong support at 2300 critical to re-break symmetric pattern bringing ETH back into the 2300s. A priceline was added at 2335 for current PA but may be adjusted upwards of 2350 if necessary. Although 2380 is the next indicated critical 2450 remains as an important marker, and the upper consolidation boundary, due to pre-ascending activity. www.tradingview.com

CheddarBizcuitz

A nice hold at symmetric resistance brings 200EMA well above 2145 critical as we look to make another push into the 2300s. Slow and steady is our best bet for continuing momentum however it's possible consolidation between 2230-2450 lasts for some time before volatility picks back up. Additional adjustments have been made to some of the 'normal' pricelines for...

CheddarBizcuitz

Another solid push brings ETH above symmetric consolidation with resistance holding in at 2300. Pattern support has been adjusted to fit recent PA which establishes 2230 as the new average. This line now replaces 2240 as the more critical indicator. 2380 is the next goal but we'll likely see some correction before then. Look to maintain above pattern resistance...

CheddarBizcuitz

The first look of a successful breakout has finally occurred after spending over a year and a half within the ascending pattern! A number of adjustments have been made to the chart to help finalize this previous zone + better align the current. Ascending resistance was increased from 2135 to 2145 to align with average; this line is now critical (solid...

CheddarBizcuitz Updated 

Price remains around the resistance high (2165) bringing 50EMA above prior ascending pattern. Another breakout attempt is now underway with the next indicated critical at 2250. A successful push (i.e. close above 2200) should jumpstart another major recovery cycle, whereas rejection to the red highlight would establish 2165 as the new ascending...

CheddarBizcuitz

A strong hold at 2100 triggers another big push sending price into the red highlight. Remember that this zone indicates the prior assumed ascending resistance, however due to limited data, it may also represent a pattern breakout. A critical priceline has been added at 2145 which is roughly the same point as the entry candle back on 5/16/22. Use this as a...

CheddarBizcuitz

Price managed to close yesterday above 200EMA triggering EMA divergence and a strong push back to 2100. Another test at ascending resistance (2135) is expected at this point which may further establish current zone or increase it to the red highlight. If we fail to make this push look towards 200EMA as critical support. www.tradingview.com

CheddarBizcuitz

Price remains between 2030-2050 after triggering EMA convergence close to EOD. Neither side has taken over yet but current hold does provide a higher chance for recovery. Closing today at or just above the dashed red priceline (~2022) may yield the best scenario by generating an inverse hammer. www.tradingview.com

CheddarBizcuitz

Momentum switches up after a double-top formation brings ETH back below 200EMA. Holding above 2030 is our best case scenario for re-triggering recovery as this prevents EMA convergence. If rejected further look to keep above 2000 for a longer-term double-bottom layout. www.tradingview.com

CheddarBizcuitz

Double-bottom recovery underway after daily closes well above the bearish piecing point. Subsequent PA did drop back to 2000 triggering 50EMA convergence however pattern recovery has seemed to prevent a longer cycle. Given the assumption that another major push will occur soon we can expect to see another test at current ascending resistance (2135) to resistance...

CheddarBizcuitz

Rejection at H1 short-term EMAs causes price to drop below 200EMA triggering 20EMA convergence with 50EMA closing in. Recovery is still possible if we can close today above 2000 which is the bearish piercing point for the 11/22 push (~1998). This should help trigger D1 MACD divergence and prevent H1 50EMA convergence. Resistance for the long-term ascending...

CheddarBizcuitz

ETH fails to hold above short-term EMAs causing convergence and a drop back to 200EMA. In turn D1 MACD has been rejected leaving us to face another possible sell cycle and further long-term ascending fill out (purple highlight). 2135 is now considered to be the more critical priceline which creates a goal resistance range from 2135-2165. This line has been...

CheddarBizcuitz

Not much volatility today although price has recovered above H1 20EMA. Another breakout is still expected sometime EOD into tomorrow. Keep an eye on D1 MACD for a better visual indicator on when this may occur. www.tradingview.com

CheddarBizcuitz

Another push sends ETH to prior pattern highs (~2135) before dropping back between short-term EMAs. Current position is still viable for breaking towards the ascending extreme resistance (2145-2165) which based on PA could extend to 2135-2165. Expect this breakout attempt to occur sometime this weekend (late Saturday/early Sunday). www.tradingview.com

CheddarBizcuitz

Price continues to hold outside of descending pattern while remaining above short-term EMAs. Given our position we can expect another push towards the assumed long-term ascending extreme resistance somewhere between 2145-2165. If successful this could be the start of a larger bullish takeover however note that there's still sufficient room for ascending...

CheddarBizcuitz

A strong push for ETH after price recovers just short of pattern support triggering another EMA crossover. Current position is now considered to be outside of the descending pattern so refer to these trendlines now as critical support. Dropping back to EMAs and their corresponding trendlines can be expected down to 2000/200EMA however any close lower may reverse...

CheddarBizcuitz

Price failed to break pattern dropping us back below 2000, short-term EMAs and average resistance. EMA convergence has yet to occur but doing so would likely bring us to pattern support. Refer to the vertical lines as estimated final breakout points for each buffer segment in relation to 2000 with a new extreme added for recent highs. Remember that as we...

CheddarBizcuitz

ETH flips 200EMA to trigger EMA divergence and a breakout above upper buffer prior to the lower buffer intersection. Another buffer line has been placed at the upper extreme which continues to hold us within pattern for the time being. Some correction can be expected however it should dip no further than 2000/50EMA with average resistance as the close...