trashpanda19

trashpanda19

Come on. I hope that I am wrong but if Litecoin can not even clear $60 than you are in trouble. A big reason why the price was rejected at that value multiple times, it is because that is where the old support is. Even if a rally to 120 took place, that does not mean much since it can be just another bounce before more downtrend.

trashpanda19 Updated 

Let's say that bitcoin right now is heading for lower prices. Near future at least 5.5k. This rally will most likely stop at 6.9k tops. Since there is a double resistance line running through there. This correction is turning into a super bearish year long correction which was to be expected from crypto. People want to know what the bottom is. Let's say whatever...

trashpanda19 Updated 

The blue line used to be the support zone and the green line used to be the resistance. Since support broke they flip flopped and price is steadily going down following the resistance. For those of you that thought $50 was a good entry point you should probably rethink that again.

trashpanda19

N.G seems to be topping off. Maybe it has one more leg up to push prices above $3.00 after the report tomorrow. But can not see it going any higher.

trashpanda19

Ethereum short term is still channeling down the falling wedge. Yesterday the support line was tested again and held firm. The price bounced back to mid 400's and is going to seek the higher regions of the resistance line. We could have a breakout there, but I would rather see one more downtrend to 370-360 region, which should provide a solid support. As the...

trashpanda19

Believe it or not but it seems like Litecoin is leading the way for the correction in the cryptosphere. If Ethereum is to follow suit lower lows will be expected breaking the long time support which now stands at 420 range. I expect Ethereum to go as low as 310-300 range. At least that is what this correction is morphing into. I am sure someone here will pick...

trashpanda19 Updated 

1- For the short term the price might go up to 535-540. Afterwards it might retest the long time support. This time it will target the 430-400 levels. (we can have a turnaround on these levels) 2- If the support is broken, the price will head towards the 370-360 levels. If those supports holds, it will create a double bottom formation which is ideal. I am not a...

trashpanda19 Updated 

It certainly does not have to go a lower low. But based on the chart pattern every symmetrical triangle in this downtrend has been followed by a decline in price. If you notice this fractals in play as the triangles diminish in size so do the drops. I expect a sizable jump on the 430-420 range as it tests the long time support. The other option would be for a...

trashpanda19

Which one do you prefer? Take the red pill and I show you how deep the rabbit's hole goes ($370-360 haha) Take the blue pill and you looking at $440-420. and if I am wrong... I am wrong. As always this is personal opinion. By the way as of tomorrow it will be exactly 6 months bitcoin and ethereum have been in correction. Can it spend 6 more months correcting?...

trashpanda19

Even if wave 5 gets extended for a little further. This kind of rise can not be supported for the long run. Any feedback? I AM NOT A FINANCIAL ADVISER. THIS IS JUST AN IDEA

trashpanda19

Two different pathways...the same destination. If you focus on the small picture a drop to mid 4000's will seem a big deal. If you see the big picture it doesn't really make a difference if you are willing to wait it out. Obviously if the downtrend continues to those levels the basin phase might take a long time to complete.

trashpanda19

Injection season... it doesn't seem to matter much for natural gas.

trashpanda19

As analyzed a few days ago, the price was expected to fall into the 460 levels and there was the possibility of a bull wick into 450's, which happened earlier on today. The price than quickly climbed up(good sign). Those levels could be retested again with possible new lows. There is a strong support here that has proven to be a nice turning point in the past....

trashpanda19

There is a bearish scenario in case the support levels do not hold in particular the blue one (c.a 6500-6200). However, this decline might present a good entry opportunity for the long run for now. Volume and macd confirm.

trashpanda19 Updated 

There is an alternate bearish scenario. But this is my primary count.