DavidJDM

DavidJDM

Technically we broke below a rising wedge which is very bearish. The target is the bottom of the falling wedge or the blue .786 fib level. That would be a huge dump but, if we get back into the rising wedge and catch support, we could keep pumping. Looks a little more likely to dump but still has a good chance to reverse. I think a lot also depends on BTC. If btc...

DavidJDM Updated 

It looks like we are in a right shoulder. The longer we go without confirmation (touching the lower trend line) the higher chance we fail and break back up. If we fail, we should technically retrace to the blue fib level or the top of the wedge. It is messy but looks good if that even makes any sense haha. If we get confirmation, we should dump somewhere to where...

DavidJDM

Looks like we want to dump. We just broke below the trendline. Should set lower levels.

DavidJDM

Looks like we just broke the parabola and had a retest which actually created a bearish divergence. If you look at the BTC market cap index chart, it looks like we also have a bearish divergence on the 1hr also breaking a bigger parabola. Could see a big move down very soon. I linked the other idea below. Key levels we could have temporary bounces on are circled.

DavidJDM Updated 

It looks like we broke the parabola. Parabolas usually retrace 50% and up to 78.6%. Key levels to watch are the circled FIB levels. I don't think that we will go lower than 31.5k.

DavidJDM

We have a falling wedge on ethereum. Looks like we could see higher prices soon. We could dip before going up but I think that we could go straight up from here.

DavidJDM Updated 

Looks like EOS wants to get above that trendline. If we come up and break above it, I think that we should get to the .618 FIB level. Target is higher but I circled some possible resistance at that level.

DavidJDM

A possible scenario for EOS. Looks like we are creating an inverse head & shoulders with a target that should complete a right shoulder for a bigger inverse head & shoulders

DavidJDM

The target for the head & shoulders never hit. A quick dump is possible before we go up

DavidJDM Updated 

Looks like we might have a bearish butterfly playing out. If we bounce on this 0.886 FIB level than we should revisit 2k ETH.

DavidJDM Updated 

If we bounce at this level or at the 0.886 FIB level, I think that this has a good chance of playing out. On the way up we could probably retrace 50% and create a right shoulder for something that would look like an inverse head & shoulders. This would take us to the top of the harmonic reversal point. Again, there are lots of IF this than that. So this could be...

DavidJDM Updated 

Got many wicks on the retest showing a lot of support. Should have a move up soon. Not sure about the target because there are different ways to draw in the wedge. But it's roughly somewhere up there.

DavidJDM Updated 

We just broke the bearish parabola that kept driving the price down. Usually parabolas tend to retrace at least 50% or even up to 78.6%. There are different ways you can draw it in but I think that we could have a small pump incoming. But if we do get above key trendlines, we could see a massive reversal but a lot also depends on BTC. So watch that chart as well.

DavidJDM

We broke down out of a bearish rising wedge and it looks like we are starting to create a bullish falling wedge. Inside we also are creating a bullish harmonic pattern. It is a bit rough so not a clean one but the reversal point is right on the golden 0.618 FIB level for the rising wedge. I think that we should most likely bounce on that level and if we don't...

DavidJDM

We have a rising wedge inside of a massive falling wedge. The bullish scenario would be us coming up and touching the trendline finishing off the falling wedge but I think that we could still fall to lower levels that would hit the target of the rising wedge and then come back up. Usually for the price to break a trendline, it starts creating smaller shoulders....

DavidJDM

We have a bearish rising wedge. BTC is also dumping. A good short opportunity.

DavidJDM

Looks like this is a possible harmonic in the making. The reversal zone should be around 31.5k. I would trade the FIB levels on the way back up but, there is a good chance that we won't see lower levels.

DavidJDM

I am neutral right now because we need more information. I drew in different possibilities that I think are possible. If we never touch the trend line again then we would most likely dump down. If we do touch and break through, we have a chance of running up to the next resistance. Even though the target is around 2.8k, I think that we would get rejected at the...