I've been looking at the BTC 'bubble' in early november and it looks similair to ETH currently. If the same pattern continues, the above idea might become reality. Meaning there's a fair increase in value to be expected.
I just noticed the amazing similarities between the second week of December and the last week. It starts with the same downtrend (and little peaks in the downtrend), then bottoms out in the same area, finding the same resistance area's in the uptrend. Are we looking at a new breakout to new all time highs (with a possible parachute jump down....)?
I might be off, but this looks like a Bear flag in a downtrend to me.
"..."Bear" flag in a downtrend. After a big rout, the flag seemingly presents a chance to re-group before continuing in the same direction (down.) Volume diminishes during the pause and then rapidly expands on the...
Let's start with a disclaimer: I'm not an expert and only started looking into cryptoforex a week ago. So use this idea at your own risk ;-)
The idea is not all mine. In fact, I've heavily adopted this idea from another user here, named TAS (his idea here:...
Now we've gone through the resistance line (red), will ETH drop down all the way to the support of the 520 region and bounce back or continue in the 'normal' rise since earlier this year (the yellow zone)?
Now, before anything else: I'm no expert by any means and my experience with models is close to 0. But, while my gut feeling says ETH is going to break through the 630 resistance area and move up, are we not actually looking at an ugly H&S and ETH will drop to the 520 region, back into the 'normal' range (indicated by yellow lines)? In short: shouldn't we sell?