Alright, fuck it, part 2, too much stuff in other post, let's start from scratch after last move.
Alright, alright, alright... Nice double bottom predicted there, 2nd low above first one, lower sell volume on 2nd low, pretty much everything was there for a bounce back up, between .5 .618, like predicted. Feels good. We got an heavier rejection then I thought, I knew we wouldnt close above or inside blue box. But I thought we would move sideways below .5 fib and consolidate from there.
Right now on H1 what happen is, we hit some really nice short SL maybe some liquid. on that wick up. Closed 400 ~ points below and corrected 65-70% of it. The good thing right now is that we've found support on last resistance and volume is dropping.
So what I will be looking on that H1 chart is, will 198~ hold as support. If it does, I expect us to move sideways a bit. If it doesn't, I wouldn't be surprise we re-visit green box or even lower.
Alright, time to get to serious stuff. When I look at the big picture on the D1 chart. I see something really nice, I'm not 100% sure here. When I look back to last advance on ETH last year, I see a double bottom happenning at the exact same support ? First bottom touched blue box, bounced back to basically the same SFP. Second bottom went to green box, bounced off to SFP but lower, then moved sideways before pumping to make a double top pattern. Weird coincidence. The only major difference right now is that the volume is higher, which could really mean the bull season is starting soon? We just need to smash last upper trend on the right.
If I follow the rules of a double bottom, it will look something like that below. Consolidate below SFP, smash it, get to last high around 0.786 fib prediction. Move sideways from there then smash that upper trend to get into bull season. Remember this is only a scenario, not financial advise.
Have a great day, I will be updating later on tonight if daily close is interesting or tomorrow if nothing happens !
vOid
Alright, alright, alright... Nice double bottom predicted there, 2nd low above first one, lower sell volume on 2nd low, pretty much everything was there for a bounce back up, between .5 .618, like predicted. Feels good. We got an heavier rejection then I thought, I knew we wouldnt close above or inside blue box. But I thought we would move sideways below .5 fib and consolidate from there.
Right now on H1 what happen is, we hit some really nice short SL maybe some liquid. on that wick up. Closed 400 ~ points below and corrected 65-70% of it. The good thing right now is that we've found support on last resistance and volume is dropping.
So what I will be looking on that H1 chart is, will 198~ hold as support. If it does, I expect us to move sideways a bit. If it doesn't, I wouldn't be surprise we re-visit green box or even lower.
Alright, time to get to serious stuff. When I look at the big picture on the D1 chart. I see something really nice, I'm not 100% sure here. When I look back to last advance on ETH last year, I see a double bottom happenning at the exact same support ? First bottom touched blue box, bounced back to basically the same SFP. Second bottom went to green box, bounced off to SFP but lower, then moved sideways before pumping to make a double top pattern. Weird coincidence. The only major difference right now is that the volume is higher, which could really mean the bull season is starting soon? We just need to smash last upper trend on the right.
If I follow the rules of a double bottom, it will look something like that below. Consolidate below SFP, smash it, get to last high around 0.786 fib prediction. Move sideways from there then smash that upper trend to get into bull season. Remember this is only a scenario, not financial advise.
Have a great day, I will be updating later on tonight if daily close is interesting or tomorrow if nothing happens !
vOid
Note
I forgot to add, on H4, we still got rejected of that symmetrical triangle. Breakout is about to happen, we are 3/4 in.Note
This might be a bit crazy, just a H4 scenario, not putting any money on this, I just like to get my mind ready for different set up. I'll need to make one if we decide to dump, but I need confirmation that this is not a double bottom first.
Note
D1, that 515,28 target seems pretty legit when you do a fib from last high. Exactly on .5, this seems really interesting, I'll need to dive a bit more into this later on tonight, I'll keep y'all updated. Have a good day,
vOid
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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.