Solid hold at 200EMA with a push to 1950 however momentum took a steep turn to send us back down to long-term trendline.
Current support/resistance can be seen at the indicated buffers along with the priceline buffer between 1800-1900.
The goal for today is to remain at or above long-term trendline to close out D1 or until we reach next convergence...
Support at 200EMA still holding in as we attempt to align with upper buffer (1900); not much new for today so refer to yesterday's post for possible scenarios.
In short, look to maintain a hold at 200EMA with second support at long-term trendline (purple). Remember that this trendline also has a buffer zone of it's own.
In terms of resistance price should look...
$ETH unable to hold within the highlighted zone as we now push below short-term EMAs.
200EMA still acts as critical support with buffer between 1900-1800.
If we can maintain upper buffer until 200EMA aligns then there's a chance we could see recovery back to 2k.
If not, look towards long-term trendline as next line of defense (buffer remains the same).
Price still holding around 2k as consolidation continues within the highlighted zone; use this area for sustaining bullish action.
Current daily (not shown) is spotting somewhat of a shooting star formation which indicates a potential reversal in the near future.
If this does occur, use upper orange trendline and 200EMA as critical supports with 1800-1900 range...
Solid push to bring us above the upper orange trendline with testing at 2k; note that short-term 50EMA is being held at this zone.
Based on the previous pattern assumption (step-like) the final step did not retract and instead just extended beyond uptrend resistance (breakout).
Long-term 200EMA is currently at long-term trendline which should be seen as...
Price holding under the upper orange trendline (uptrend average) as we continue consolidation within the highlighted zone.
A dip to roughly 1800 or long-term trendline is still expected before a next major push; note that we've passed the intersection point which should provide better support.
If a bullish breakout does occur at current zone we could likely see...
Support able to hold at upper buffer to continue momentum past 1900 and onto orange trendline, or upper uptrend average.
Current resistance can be seen at this zone with 1900 now acting as support; see attached H4 for better clarification.
Now that we've hit the expected high it's possible that we see a quick dip back to 1800/long-term trendline range before the...
$ETH able to hold above the highlighted zone to push us back above 200EMA and eventually long-term trendline + buffer.
From here we could expect continuation to either 1900 or orange trendline before the next major resistance test.
The good news in this situation is that price re-broke 1800 to assist in preventing a second-bottom scenario, although still...
Price rejected at 1800 as we dip below buffer with tests around 200EMA.
Based on recent posts and PA this could be the start of a second bottom-like scenario (1800 neckline) if price fails to hold at current zone or marked ~1670 priceline.
Keep in mind that the solid black trendline is uptrend average while the orange lines are upper and lower averages.
The...
Solid push to send us above long-term trendline and briefly 1800 with current support at lower buffer.
It's very possible that we continue this bullish action back into 1800-1900 range before testing the next 'zone'; note that this could also be at 1800 per 6/10 marker.
Two orange lines have been added to indicate a rough-average high and low. Look out for any...
$ETH able to hold above yesterday's indicated pricelines as we look towards another attempt at testing long-term trendline.
Expected resistance is still around 1800-1900 with support at 200EMA then lower extreme.
Best case scenario (imo) is that we fall somewhere into the above bullish range so that 1800 acts as new critical.
Good initial push so far as we test long-term trendline and short-term EMAs.
The goal for today's D1 close would be to hold (close) above the previous ~1660 support line or perhaps the new tentative line at 1670; this could also be noted as 200EMA.
In doing so we would likely prevent a bearish piercing scenario while providing a solid setup for continuation...
Support maintaining at lower extreme as we now push back above EMA levels with long-term trendline as current resistance.
Although a few H1 closes did fall below the estimated trendline, volatility was rather low/consistent and more in-tune with H4 which did not close below.
Also something that wasn't stated in yesterday's post is that there is generally a...
Resistance holding in around 1650-1700 to continue sideways action; support still maintaining at lower extreme.
If we can keep above current zone it's possible we see another push towards upper long-term trendline with an estimated high now around 1900.
If rejected we would look towards 1500 support with the assumption that lows could dip below but close should...
Yesterday's daily close held above 1600-1650 priceline + 200EMA to prevent a possible bearish breakout.
A slight dip did occur shortly after however strong support has allowed us to form into a likely double-bottom recovery with an estimated push to 1800 (better seen on D1).
Expect long-term trendline (+ buffer) to act as resistance with weakening as we approach...
Solid dip and recovery off the unexpected lower extreme to send us back above EMA levels.
Today's goal should be holding above the 1600-1650 priceline to set us up for a potential push tomorrow; note that D1 has roughly 7hrs left until close.
Expect some resistance at buffer as well as the possibility of a more short-term double-top formation off ~1750.
Failed attempt pushing towards 1800 as price gets rejected at 1750 to drop us below buffer and short-term EMAs.
Current support can be seen around 200EMA with lower buffer as resistance.
Now that we're positioned out of pattern focus should be primarily on 1600-1650 price line; extremes (solid black) shouldn't matter as much here.
Double-top is possible with a...
Not much new on today's post, price is still holding within long-term buffer zone but remains towards the low end.
The good sign is that all closes are still above lower trendline for H1+, meaning we could see a potential reversal soon back to 1750-1800.
H1 200EMA is progressing towards 1600-1650 support which has been changed from tentative (dashed) to...
