DrixlRey

DrixlRey Updated 

Things aren't looking pretty, we have here the 4H COINBASE:BTCUSD chart. After the failed breakout on 3/5 a bear flag is shown on the white trend line (bear pattern 1). This failed breakout created a double top created between 2/20 and 3/5, highlighted in yellow (Bear pattern 2). It is now forming a symmetric triangle shown in green, a sign of continuation of...

DrixlRey

Things aren't looking pretty, we have here the 4H BTC/USD 0.64% chart. After the failed breakout on 3/5 a bear flag is shown on the white trend line (bear pattern 1). This failed breakout created a double top created between 2/20 and 3/5, highlighted in yellow (Bear pattern 2). It is now forming a symmetric triangle shown in green, a sign of continuation of the...

DrixlRey Updated 

It looks like ETH is approaching the end of the corrective ABC wave at in the large scale, while waiting for the B and C waves for the smaller scale. I predict wave B will hit the 1000 resistance level before bouncing back to the bearish channel, and finally ascending for a new bullish wave. The green line is a descending channel, if it breaks that channel that...

DrixlRey

Volume has decreased significantly at this point of the run. Take profits now. A descending triangle has formed at the top of a run for the last 4 hours. MACD has crossed. We are still in a bear market and we should take profits where we can. Until next time!

DrixlRey Updated 

After failing to hit wave 5 the head and shoulder was formed. ETH is now currently sitting at the 840 support line. Remember the downward trend tends to match the neckline to the highest point of the middle of the head and shoulder. We may see hit the next support line before possible bouncing back to the .50% retracement.