Bottom might be in at around 7150, suggesting fulcrum bottom and reversal to 9000.
Fib 0.866 typical level for reversal (bearish gartley target). Bears running out of steam right now.
Bull:Break above 7800 validates scenario.
Bear: Break below 7100 invalidates scenario.
Full disclosure: I'm long since 7300 and will add to my position upon confirmation.
Even the most notorious permabears (all of which missed this bullrun entirely) starting to talk about leveraged longs was your signal to start thinking about exit strategies. Inverted head & shoulder seems invalidated and it looks like we fell for the classic fib 0.236 bulltrap that we get in all crash patterns - also in 2014. If we get rejected by the...
I strongly believe that we've seen this years bottom at 6k and that we are currently in phase B of macro accumulation according to Wyckoff.
Medium term, I expect us to retrace now from 9k to around 8400 and then we'll up go to 11k region. From there, we might drop to 7500 where I will buy aggressively and hold for the rest of the year.
I expect ETH to pullback to 460 levels to
A) Re-gain strength to push up and lead to a breautiful bull run, aiming for (and possibly breaking) the log downtrendline at 550.
B) If 460 doesn't hold, we might re-integrate in the downtrend channel and see new lows. Considering how strong ETH looks right, this scenario is less likely, but it...
BTC broke out from the falling wedge and is currently in consolidation around 8000 from where I expect a slight retracement to around 7500 - 7600.
A) If we hold this level, we might break the resistance at 8200, break out of the log downtrend line and reach for the falling wedge targets of 9k / 11k.
B)If 7500 doesn't hold, we will break...