So this is a fun one to chart. Been looking at this bad boy forming for a while now, and the potential of a near 100% retrace on the year is just too juicy to ignore.
Flag poll starts ~315, since then we've basically been in a death spiral that has now painted one hell of a nasty continuation pennant.
Volume is prime as well, clear consolidation into the end...
Following on the previous call of ETHUSD painting a pennant, it seems that call was a bit too early as the chart extended itself out. However, the pennant and bearish call was never invalidated, there was no buy volume it it never broke 140, and found major resistance in 130, which I was expecting if there was a move upward.
Call is simple. ETH is die, people...
While I'm still trading long term on the idea of the 2017 BTC fractal repeating itself, and so far it's holding up rather well, volatility and these violent moves down obviously present good short term trades to profit off of.
Longing support at ~10570 for various reasons.
4H 200MA RSI is currently acting as partial support for this dump.
.236 fib on the...
The following chart and idea is presenting the 2017 November / December fractal.
There are three main parts of the fractal that are in progress or have already taken place.
1) Uptrend break dump after massive price increase
2) Failure to retake broken uptrend
3) Following lower high which signaled the end of the bull market and start of the bear market.
1)...
