Making this call based on other technicals that I will not go into here. Invalidation if ETH keeps going up from here. Black swan event at the end of year. I had another idea that ETH will drop to 844 this summer, obviously invalidated with this pump.
PA in a descending channel. completed a bearish harmonic and might be printing a bullish one now. RSI will tag 30 and go back up to 70. Watch for flip in premium to positive for swing top confirmation.
In an ascending channel, testing support. Ichimoku twist offers low resistance upward. 12H RSI trendline broken. 12H MACD pointing upward. Break of the channel downward will mean a continuation of the ALTs run.
Longterm bullish, but PA seems to respect rising channel and bounce between resistance, midline and support. Each bounce forms distinctive pattern of rising wedges that break upward and test either channel resistance or midline followed by a descending triangle or falling wedge. The Bollinger bandwidth give a sense of timing for volatile moves. This model...
Tapped the top of a long term range and rising channel, RSI topped, broke the upward trendline. Target is $15.
Playing of patterns only, breakdown from a rising wedge with a bearish retest after completing a bearish Gartley harmonic. Target 3120.
ETHUSD has done great in last week, outperforming BTC as we can see with current rise of ETHBTC. But ETHBTC is still within a descending triangle, and descending triangles on the ETHBTC pair have not been kind, with almost 100% break down.
Tagging the 1 to1 extension will close the gap. A drop now to close gap below at 42.8k is feasible. A drop below 40K and the trend has changed.
Failed to breakout of the descending channel after breaking out of the falling wedge. It is possible price will retest the falling wedge. On the USD pair, LTCBTC broke down from a rising widening wedge with a measured move of $64. Currently I see price bouncing around the range, and breaking down in the near future, touching bottom. Last January I outlined a path...
I am speculating the 2018 PA will repeat. If 2018 repeats, this is how the RSI will look like. I have four other ideas that show further downsides.
Currently PA tested the midline of a long term rising channel (yellow line). Further upside within the rising wedge possible although PA formed a 1H bearish divergence. Ultimately wedge will break down and price return to base, more likely if funding flips heavily positive.
Price action printing a bearish descending triangle in a downtrend and in a descending channel. Price action coming to the end of the triangle in a few days. Many gaps needs to be filled below. Reminiscent of February 2020.
RSI moving from overbought to oversold.
SPX broke out of a Livermore cone with a target of 6000 in December 2020. Currently PA is in a rising channel and was rejected from the channel's resistance. There is a good possibility it will form a falling widening wedge as it did in February 2021.
Trading in a range and inside a falling wedge with daily bullish divergences. Break out possible and a retest of the range top is possible.
BNB formed a nice a rising triangle that broke out then failed. It was an unfortunate bull trap. This bull trap has formed an order block of trapped longers which increases resistance. A retest of the order block will be met with trapped longers wanting to unload breakeven. The failure of the rising triangle is bearish and 255 and 225 are targets. On the higher...
The resistance of $35 has been tested several times but remain unbroken. this is after dropping from above $35 into the range after printing a diamond reversal pattern. Now price action reaching the resistance of the descending channel. Considering that in general the market is weak, a drop to the bottom of the range is expected.