Lots of wedges coming together soon - which way will we break out? Im not sure but i really hope we have the strength to push out the top!
Possibly some triangular bouncing, a likely ETF delay potentially testing very very long term support lines. Beyond that, very hard to guess.
(Excuse all the million lines on this chart, just a few different looks at historic ranges and movements). - Red SMA is 150 days - which we are under (have been since March) - Super guppy looks like it needs one last stretch down before springing back - Green and red double arrows were from a directional forecaster (cant remember the name) but if the arrow is...
I think we could be seeking out $5,150 - looks to be a trifecta of the 236 fib retracement, confirming to the top triangle boundary from the peak, and matching up with a long term triangle base.. If we break below that, looks like we will be testing $3,150 :( However, if we bounce with confidence, we could be set up to wiggle our way back up through a few...
Might be some delaying grinding between closing 5 and starting A
Charts look to be consolidating into a nice wedge and forming to a oscillating pattern - with this in mind, fingers are crossed for a bit of sideways grinding, leading us to oct/sept 2018 in preparation for an explosive bull run
I think the eth charts (as well as the BTC charts - see my other charts) are consolidating in preparation for an explosive bull run. Estimated bull run launch: Sept/Oct 2018 as the markets get squeezed and in time for some regulatory clarity enabling larger money to enter the markets.
The two; long and short, timescale fib levels overlap where the green arrows on the right indicate - we have been bouncing around the fibs quite well recently Option A really is a little bit of bouncing into a bull run up Option B really is a drop down to form a triple bottom, hopefully before a rally up