A new bullish pennant fractal formation has appeared. Will it behave this way as projected or will I be rekt? Place your bets. This setup is related with my last chart, especially with the behaviour of the fractal:
LONG at 0.050-0.051.
No stop loss.
Good luck!
LONG at 0.050-0.051.
No stop loss.
Good luck!
Note
I went long at 0.051 and now we're back up. I'm thinking the next entry point for a nice SHORT is at 0.055-0.056. Let's wait and see!Note
ETHUSDT confirms we'll be going up for a while more before consolidating.Trade active
It's SHORT time!Note
LONG again at 0.05.Trade active
Get ready to LONG! Almost thereTrade active
Small bulltrapTrade active
Seems like a small bearish pennant has formed.I'm going LONG once we touch the bottom
Note
It broke up.Trade active
A wild bearish flag has appeared. It's SHORT time!Note
Note
Nope, we're not going back to that level just yet... maybe this?Trade active
I think we're going down again.Trade active
Yes, we went down. I hope you SHORTED before!Now we are going back up. LONG!
Trade active
It went down but I think we've reached the bottomTrade active
Descending tightening wedge formation. This might create a double/triple bottom. The bounce will be strong!Meanwhile, Bitcoin is trying to approach the resistance line at 1010. Bears will wake up there, bringing it at least $50 down.
Trade active
Seems like a channel... more likely...Note
The descending wedge broke up.This is the possible development of the bounce!
Trade active
I think we're going to keep on going up by now. You should be LONG by now.Trade active
This is my setup for the next 3h. I think it's more likely we're going up.Trade active
If we go up, this is how I see it going to break the Bull Flag and the Bullish Pennant:Trade active
We went up and the setup was very similar to what I expected. This is how I see it developing until we continue our way for a breakup. I Hope you LONGED when it was down as I said!ETHUSDT also shows we're ready for a break up
Trade active
Zooming in, it went down the arrow as portrayed in the previous update.Let it be some more sideways...
Trade active
Last chance to LONG at this level before breakout!Trade active
This is how I see the way until the breakout in about two days.Trade active
It went way more down than I expected. The reason, of course, is Bitcoin broke the resistance at $995 and now we're at the Gann Fan resistance, just as portrayed here:Coming back to ETH, we can see the bullish pennant has broken down again and now it seems more likely we're just inside of a bullish flag.
This seems like a very good opportunity to go long.
The bullish pennant still lives in ETH/USDT though.
It seems to me ETH is getting detached from the inversely proportional relationship with Bitcoin to be more neutral. This seems to me like another bullish signal, considering I believe in two days when the Hard Brexit gets triggered and the convulsion in the global markets begin, we're gonna see them rally together, just like we've seen them many times in the past.
Trade active
A new attempt by bears to break the support line of the bull flag failed. For the fifth time!I only see it going to the upside, but this is the crypto world so watch out!
Note
ETH / USDT also broke the resistance line in the bullish pennant, although it's back on track!Trade active
Yes, it has gone down, but there are two main resistances and pivots that I see very hard to break.Trade active
Yesterday, after a lot of senseless panic in the market, thinking we broke down the bullish pennant, I am relief to asses it was just the evolution into a bullish flag.
Now that the bullish flag is almost completed (it will be due by tomorrow when we take off), I’d like to show you the pivots that made very strong resistances possible, so that the Ethereum continues in its uptrend.We have nine pivot points so far and I expect the last one to shoot us out of the bull flag will be coming tomorrow between 9am - 11am UTC +1. I expect this to be related with Brexit, as I have explained in my previous charts.
If you’re not LONG yet, do it now. We’re still going to the moon and this was just one of the checkpoints!
Trade active
Zooming in...Trade active
Previous setup wasn't correct. I expect a descending triangle within a bullish tendency now.Trade closed: target reached
Although the bullish pennant became actually a bullish flag, the tendency to go to the moon still continues. I will continue with my updates here:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.