bigmac375

bigmac375

The bitcoin cash debate is dragging everything down, and ethereum has its own hacks to manage. This is probably a conservative estimate, and i expect lower prices still. symmetrical pennant broke down before touching the bottom to confirm, now on a heavy dump and testing resistance/fib levels. I will update as I see fit. Don'tcatch any knives yet.

bigmac375

We're back on top of the bearish trendline for BTC with a target of 1430 levels. If you didn't get in before now, the risk is tremendously high for the reward, though I do expect sideways movement before any downtrend.

bigmac375

We have here the current bearish trendline, the fib levels for the 6 month run. As you can see the bullish channel is no longer in effect, and we are in a bear market, noted by the downward trendline. Today's surprise EEA3 news produced a news shockwave, on top of a recovery, causing massive buying pressure. We shall see if one of these candles can break this...

bigmac375

FOMO buying on the major ETH dip and subsequent recovery is pushing ETH to its limits at long term resistance. I expect a sideways movement while the market figures out what is next.

bigmac375

It's looking like we are about to test the long term trend on ETH/USD. If we fall out of the trendline expect massive selloffs, if not HODL.