ETH.USDT (Y20.P4.E8).Looking to go long
Updated
Hi All,
This just another update to the previous chart, link supplied below explaining the price action of ETH using the Inverted BARR method.
A bit of a scenario I missed out on the previous post for the short term.
I stated where the resistance trend line will be but I did not factor 2 scenarios, 1 with logarithmic scale and the other not.
> If it breaks above both these scenarios, and also the previous high, go long
Now looking at the non logarithmic chart above, it explains the resistance. Hence my following thoughts
MY THOUGHTS:
===================================
> Applying the inverted BARR strategy, bump and run as well.
> We have the inverted BARR trendline as the major resistance.
> Note how the previous peak for ETH was at the 0.618 fib level which sets it up for this new trend line.
Bitcoin did something similar early this year and it took up to the 4th attempt to break it (refer to previous BTC posts in that time frame). I expect something similar but less likely 4 attempts.
I would lean to the 3rd attempt to break it.
> Right now, we have BTC dominance on the up, soon it will level off and here is when I think ETH will break this trend.
> In the meantime, it will do some sort of consolidation under this resistance.
> If it breaks above both these scenarios, and also the previous high, go long
> Alts and ETH are in sync with BTC dominance and key levels of resistance, Some like LINK have a very different structure, which I am not so sure to read at the macro level.
> My expectation is if ETH breaks this resistance trendline, it could also have another reistance level with the logarithmic lead in trend line as well.
> Most likely the ALTS will follow and the ALT season will kick in.
Lets see how this hypothesis goes.
Please give me a like or tick for this post.
NOTE: Do not short BTC, go long. If you considering wedge formations or head and shoulder formations, you will fall into a trap.
All the best,
S.SAri.
==========================================================================
Logarithmic chart\scale
==========================================================================
Non logarithmeic scale
==========================================================================
PREVIOUS POST
ANOTHER POST USING THE INVERTED BARR APPROACH, Proves to be correct
This just another update to the previous chart, link supplied below explaining the price action of ETH using the Inverted BARR method.
A bit of a scenario I missed out on the previous post for the short term.
I stated where the resistance trend line will be but I did not factor 2 scenarios, 1 with logarithmic scale and the other not.
> If it breaks above both these scenarios, and also the previous high, go long
Now looking at the non logarithmic chart above, it explains the resistance. Hence my following thoughts
MY THOUGHTS:
===================================
> Applying the inverted BARR strategy, bump and run as well.
> We have the inverted BARR trendline as the major resistance.
> Note how the previous peak for ETH was at the 0.618 fib level which sets it up for this new trend line.
Bitcoin did something similar early this year and it took up to the 4th attempt to break it (refer to previous BTC posts in that time frame). I expect something similar but less likely 4 attempts.
I would lean to the 3rd attempt to break it.
> Right now, we have BTC dominance on the up, soon it will level off and here is when I think ETH will break this trend.
> In the meantime, it will do some sort of consolidation under this resistance.
> If it breaks above both these scenarios, and also the previous high, go long
> Alts and ETH are in sync with BTC dominance and key levels of resistance, Some like LINK have a very different structure, which I am not so sure to read at the macro level.
> My expectation is if ETH breaks this resistance trendline, it could also have another reistance level with the logarithmic lead in trend line as well.
> Most likely the ALTS will follow and the ALT season will kick in.
Lets see how this hypothesis goes.
Please give me a like or tick for this post.
NOTE: Do not short BTC, go long. If you considering wedge formations or head and shoulder formations, you will fall into a trap.
All the best,
S.SAri.
==========================================================================
Logarithmic chart\scale
==========================================================================
Non logarithmeic scale
==========================================================================
PREVIOUS POST
ANOTHER POST USING THE INVERTED BARR APPROACH, Proves to be correct
Note
Note
Could this be the breakthrough we have been waiting for. Its close.
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This community has signals now but with no risk management comms.
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