Log view, hourly.
I'm working one of my other jobs today and may not be able to update for 8-10 hours from the time of publication, so take this early/sketchy projection for what it is.
I think it comes with enough geometric synchronicity warrant a publish.
If ETH prints a right shoulder at this point, the downside target would be precisely a touch to the resistance trendline that we finally broke above on Wednesday.
Then again, we had a long wick and strong support at that long term blue trendline I drew your attention to in my last ETH update. We may not lose that. If we do, expect the target box.
Measure twice, cut once.
May all of life's treasures be yours.
I'm working one of my other jobs today and may not be able to update for 8-10 hours from the time of publication, so take this early/sketchy projection for what it is.
I think it comes with enough geometric synchronicity warrant a publish.
If ETH prints a right shoulder at this point, the downside target would be precisely a touch to the resistance trendline that we finally broke above on Wednesday.
Then again, we had a long wick and strong support at that long term blue trendline I drew your attention to in my last ETH update. We may not lose that. If we do, expect the target box.
Measure twice, cut once.
May all of life's treasures be yours.
Note
Small shoulder forming and turning over, but I’m also ready for it to turn into a larger shoulder before completing the pattern.Note
Still looking good. Currently having it out at the 50EMA. Bulls may lose here eventually or we could push a little higher, which I would prefer. Higher price tag would reduce risk in a short entry.Note
Pattern complete, expecting movement toward target: $675 areaNote
Wow...Good morning!I am really shocked at this price action right now. You will see on my chart a grey line at 695, precisely where we found support. I'm sorry for not drawing attention to the potential of a bounce from this line. I didn't even have a buy order there, to be honest. It is a strong support-resistance line historically, but I really thought we would shoot past it on this downhill.
However, if you were watching and know your stuff---maybe you saw the buy signal. On the 1 minute time frame there's a textbook Adam and Eve double bottom. I haven't seen one that good for quite a while. That would have been a strong short term buy signal for me at $700, had I not been sleeping :)
We are re-approaching the neckline and EMAs on multiple time frames. I do believe there is likelihood of reaching down to the target box today before much more rally.
Note
5 Days and a double top later, I finally got my target ETH price. Long here with targets at 695, 705 and 715. Stop loss tight because all this sideways is wicked confusing and it's been hard work this week making profits; will raise the stop as we move.
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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.