I just realized when I published this (6 hours ago) it was marked private. Ugg. Re-publishing.
My previous projection played out and we've just touched the lower long term trend line at ~405. I expect to see a small bounce here and then it will level off for the next while. I expect a boring summer ahead, but who knows with crypto!...
Here is a longer outlook for the summer. I think we still have a small bump up to the into mid 600's, then we step our way down to a low around ~420. July and August look like consolidation months to fuel the rocket for the fall!
It's been a while since I posted, but the trend has been nice and steady. Now that we're flipping it's time to look at this closer.
The fibs based off our high on Feb 17 are hitting consistently. For today we need to go down to around 680. The .5 fib is calling ETH.
Looks like we are in an exact repeat of a previous pattern. I've done an overlay, let's see how it plays out! Bad news though, it looks bearish for a bit.
Follow this to the overlay:
Sorry, not exactly sure how to get this image inline here??
I think we need to touch the top of this channel. My best guess is that it will go down at that point. Unless a magical unicorn helps break it out! Although the MACD is suggesting a turn up, and RSI is fairly low. Guess I'm bracing for the worst :)