mielonka

mielonka

Looking at daily and weekly ETHBTC chart one can see a huge descending triangle, which in general is bearish formation, but not always. This time checking out other indicators I dont think it's going to break the bottom line, I rather expect a huge reversal from this point. It aligns with a.refent BTCUSD rally. Stay tuned.

mielonka Updated 

As shown on the diagram bitcoin is closed in range 4150-5250 usd.

mielonka Updated 

Since Xmas evening a reversal formation is emerging: ascending wedge. It would cause a correction for ethereum (sell-off) before a fork.

mielonka

The nearest top to be breached (although I believe won't be crossed at once) is about $150, but before it ethereum has to cross SMA50. This upper bond of channel coincidence with $6000 BTC with 0.025 ratio of ETHBTC. To be watched.

mielonka

As seen ethereum can test the third bottom (about 72$ which is 3000$ BTCUSD * 0,0237 the minimum from December 2017) then rebound to 92$ (which is a resistance on the falling wedge which is a potentially bullish formation). We will see.

mielonka

ETHUSD There are to supports to be breach (mostly probably) before going to north again. The bottom would be around 80$ as it is set by previous bottoms (falling wedge).

mielonka

Inspired by rough times for USD I compared BTC to GOLD. It seems the bottom for BTCUSD is not here yet and we should look for it rather near 2.5 x XAUUSD which is, what a coincidence, near $3000 tag. Have a good time.

mielonka

Possible descending triangle formation on ethbtc. There is a room for upside move by 70-80%, but if stopped at 0.06 bearish formation may appear.

mielonka

Last weeks the ETHUSD volume surged one from December 2017 on Bitfinex. A bottom behind us?

mielonka

In 2/3 cases a breakout is downside. We need to wait another a few weeks with BTCUSD to see what happens.

mielonka

It breached down bound of trend channel.

mielonka

Looking at the ethbtc weekly chart and indicators it seems that we are at the (local) bottom. What bothers me is no volume (a slight increase can be seen). We need to observe for the next weeks to see if it confirms. Unfortunately it does not mean that the price against usd will surge due to btcusd changes.

mielonka

We will dip to $40 or below in the next days.

mielonka Updated 

REPETH