rlocsin1286

rlocsin1286

Hello everyone! Today, I cashed out my position at 824, after the 2nd rejection at 850 (3rd if you count the quick burst to 864) and bought back in at 764 for a decent ETH gain. Over all I'm super bullish on ETH this year, so my current strategy is to sell at resistance then buy back at support. Right now there are 2 scenarios I'm willing to swing trade on. 1)...

rlocsin1286

Is a double bottom reversal forming? What are your thoughts?

rlocsin1286

I'm setting up to buy in the two blue zones: The MACD shows that we are in Elliott Wave 5 RSI eventually has to return to the 60 level: Stoch eventually has to return to over sold levels: I'm new to technical analysis so I appreciate any feedback you may have. I'd love to hear your thoughts...

rlocsin1286

Figuring out where we are can help us better understand where we are going. Right now I've mapped out 2 possible scenarios: 1. Red Line - Shows we are ending Elliott wave 5 and the ABC correction wave is coming or 2. Green Line - Shows we are mid way through Elliott wave 3 and we have a long way to go What are your thoughts and why? Here is a zoomed in image...

rlocsin1286

There is a possible head and shoulders pattern forming for ETH. We should know within the next hour. That or it could make its way to the top of the channel for an $1150 all time high... Decisions... Decisions... Let me know your thoughts!

rlocsin1286

45min MACD just crossed Descending triangle formed (3rd lower high visible) RSI forming lower lows Sold at 932.50 Target buy $910-$890

rlocsin1286

I know everyone is super bullish right now so I'm not sure if anyone is open to hearing this... but, it looks like we're in the middle of wave 5 with a target of around $1150. After that, we might be looking at revisiting the long term support formed in the previous ascending triangle (yellow line). History shows that ETH tested the $400 level then returned to...

rlocsin1286

I'm new at this but... If history repeats itself, we could be revisiting the long-term trend line before the next move up. I'm looking for feedback on my analysis. Please comment with your input below. Thanks!