we move in a channel, i suspect an ABCDE price movement if price get rejected at our current lvl.
if we close few days above the resistance we have a probable bullish recover at 1D MACD
I think we might see 1.5k (resistance) for eth on the short term then eth dip to 1250ish to test support. It looks like an ending diagonal to me. we have a MACD bearish divergence on the 4h (higher high price with lower highs MACD). Price move in the triangle in a 3 wavish pattern like an ending diagonal, some call it a bearish ascending triangle....
I always look the ETHBULL and ETHBEAR to help me understand where the market put is money. AS for now, we see a meteoric rise in the volume, highest since ETHBEAR creation, meaning that a bunch of people put their money expecting a ETHUSD dip. This is a way for me to analyze market sentiment objectively (people money) instead of subjectively (people...
so to follow the past big ABC hypothesis. we know that C of ABC wave are made of 5 impulsives waves. we have 1 big impulse down and a 3 wavish bounce back to near 0.68 of this first wave. almost a perfect ratio for a wave 2. the bounce back (wave 2 of ABC)has attribute of a minor ABC .
This should look like this...
AS projected, BTC took the bearish direction. Kind of healthy correction after this bull run. Beware of moonboys always saying higher and higher even after 300% gain. BTC historically goes deep correction after short term bullish run.
Price target remain the same, 20k :
hi guys, so still bearish on ETH. still moving in the ascending bearish triangle. Yes ETH outperformed BTC but nothing really changed the outcome.
pullback and rise of volume at historical major resistance :
I maintain retracement price target around 700$ish. Idem as my last post
BTC price move in the old bearish triangle that i have projected here :
bearish crossover on the 1D MACD . the price really looking to move toward the daily MA100 which correlate with good support :
Right now, DJI testing a major resistance where 3 last attempts failed giving bears the upper hand. Got a good record with projecting DJI, I predicted the COVID19 crash (link below). be careful
so we move as expected. little bounce on the support, i tried to make a count if the price remain in this triangle. the wave form lead me to think that this is a bearish triangle instead of a bullish one.
When counting a ABCDE triangle you need to start the count at the right place. You never count the first leg as A but you spot the first ABC 3 waves...
For now, im a not so bullish on any crypto. I expect a simple retracement on the short term.
There is a lot of emotion right now on the market making a ton of volatility.
Right now, these are my 2 option :
But i tend to prepare more for a bearish out come than a bullish out come. There is too much inherent...
so to follow my last post.
I said good chance to see lower lows if wave pattern form an ABC :
so we have it :
Overall, I expect on the mid term that the price will fall near 1.618 of wave A near the 1D MA100, thats kind of a classic in crypto. support at 1k but i expect...
I use wave pattern to see where the correction may end. right now we have the structu for 1 impulsive wave with a pattern retracing at the fibo ratio of 85.4% of wave 1 (see fibo table at the left).
the pattern i identified is an expanded flat : ibb.co
Guideline for expanded flat
• A corrective 3 waves move labelled as ABC