ETH price broken below parallel channel, both daily EMA's and is forming a bearish flag that could take us all the way back to the $80's
Small inverse head and shoulders could provide a bear trap move back to $270 region before the move downwards.
There is definately potential that we have just completed wave 4 of a downwards impluse and could be starting wave...
When Charlie lee sold his Litecoin he spoke of a multi year bear market.
BTC broke a downward trendline (not the first time) and everyone was waiting for a little volume to jump in balls deep. Enter the whales and here we have our pump.
Have the fundamentals changed in any significant way?
A weekly close above $180 voids this idea. Until then I remain with...
BTC Price has failed 3 times now at the W200ema. With the last lackluster attempt apparently running on fumes.
We are getting very near to a major downtrend line and, as I'm seeing no real fundamental changes in Bitcoin, I would imagine the Bears will return again soon, taking the rest of the market down with it.
I am also watching the BTC Longs vs Shorts....
So apparently past patterns can repeat again.
Well I have found one on BTSBTC that seems to be working out like the same time in 2016.
It started by finding a curving bottom and I wanted to see if that resulted in a rally. Examples will follow below.
So anyway we broke out of a falling wedge to the 70 ema. Now I expect a touch of the curving yellow line...
A nice rally yesterday. But still trading within a large bear flag below the weekly 200 EMA which has been tested and confirmed already as resistance.
Daily RSI getting overbought and no higher high, yet.
ETH rallied as well but daily RSI on both ETH/BTC and ETH/USD in overbought territory with only a lower high printed so far on both charts.
I've been bearish a long time now and most TV users have been in denial.
Now most of the ideas shared are Bearish, accompanied by statements such as 'its obvious!', which is starting to make me worry that we may be closer to the next bull run than I thought.
So I've been looking for some evidence to support a potential bottom.
ETH has printed a low low that is...
So I have been talking about the 535 corrective pattern on ETH (labeled ABC) and it seems to be working out just like the playbook.
The projected targets for wave C are; 100% or 161.8% of Wave A, OR 161.8% of wave B.
i will be hoping for the 161.8% of wave B option as 100% of wave A takes us well beyond $0
There is even a bear flag projection targeting it...
A short rally and everywhere I look its talking of bullish confirmations.
On the weekly we had a pullback to the .618 fib and although this pushed past a long term trendline, it is still just a lower high and a possible wave 4 of a downwards drive. I am now expecting a wave 5 before this correction is over.
I now have a 1.618 measured move target and a...
A new lower low and the downtrend continues..
Bulls needed to remain above $6500 to keep valid the thought of an impulse wave to the upside. They failed.
My downside targets are somewhat arbitrary but I expect we will make our way down to the yellow trendline and complete the 535 correction I've been on about since march :)
Head and shoulders target and bear flag targets agree on $6000.
This would mean a break of the Green trendline that has been holding all year. Also once we go below $6500 any hope of this being the corrective wave 2 of a new move up will be lost.
I imagine we would bounce up and test it as resistance before a larger selloff happens. This seems most likely and...
This is a Daily line chart showing an unbroken downtrend line.
We have half of a 535 correction.
We have a .618 retracement for a possible ABCD diamond.
We do not have a higher high.
This could be a good time to lock in some profits if you havn't already. I have gone 25% to tether. That way i'm happy whatever happens.
Ok so we all saw the correction coming and now we are looking for a bottom.
Sentiment is turning bullish (which can indicate time to sell) and some downtrend lines are broken. ETH has even printed a higher high on the 4hr chart, but is looking overbought, and will not print a daily higher high until it gets above $985
It seems most likely we will head down...