Bongos45

Bongos45

Need to see a clear break and hold above 50ma for confirmation of Bull market.

Bongos45 Updated 

We can see the descending triangle (A), ascending wedge (B) both played out as per charting principles. Wedge pattern (C) has broken down, and backtested the wedge. Should now see a reversal down to high 19K.

Bongos45

RSI was actually at resistance (RSI 50 - which is the watershed between an asset being in bull mode or bear mode) - and double-topped at 50. It was an excellent signal to get out of your trade. See chart.

Bongos45 Updated 

We need to see how ETH reacts to EMA34 (2 wk). If it holds then we'll likely have a continuation of the bull run. Otherwise, if it's lost, then a long retrace down.

Bongos45

Inverting the chart shows COTI is "bullish". EMA8 has crossed above both EMA37 and SMMA50. Also, has broken a long standing diagonal.

Bongos45

The inital breakdown happened as expected, but PA now consolidating with a penant for the next leg. Possible targets are 38k or 34k based on Fibonacci retracements.

Bongos45

The $4.5 lines up exactly with the 1.6 Fib extension, so has confluence as well.

Bongos45

Has nicely held above 20wk MA, and looks like September will be a consolidation month. Expect us to resume uptrend sometime October. Upside targets for EOY 2021 are 1.6fib (441), and 2.6 fib (681). Into 2022 I expect to see the upper bound of the channel to be tested, which will be in the order of 2k.

Bongos45

We're at the 20wk MA, watching to see if we can break through. Once we can get over 50 on the RSI we should go up from here.

Bongos45

At a clear decision point now. A major pump is needed to leave the down trend, or else a longer term decline. Might be that we need to retest MA50 (Weekly) at around 30k before we can refuel again for another bull-trend. Once RSI resets on the weekly (35 or lower), then that would also signal a reversal.

Bongos45

Both RSI and PA are at the bottom of their channels. Looks like a nice setup.

Bongos45

Using the Super Guppy here - looks like a nice entry for a long.

Bongos45

Once the Alt-season kicks in proper, can see this claiming May 2021 high as first target, which is a 3x vs BTC. Formed a higher low from the bottom, and Stoch Rsi (weekly) is at a good entry point.

Bongos45

We seem to be in an expanding megaphone structure, so the lower bound target is 35k give or take. Bullish momentum is in place, so a run up to $50k is probable. Max pain here would be a flush back down to the mid 30s.

Bongos45

From a timing viewpoint, and also from the ascending wedge it seems like a return to the 20wk MA is likely by the end of the month.

Bongos45

On the 2 day chart, we see bearish divergence with the RSI, but the RSI has an Adam & Eve reversal pattern showing. Tread carefully!

Bongos45

Waiting patiently. We've just lost the strong support at 710, which was set up on the way up. Unless we can get over this level, it looks like we'll form a final low at 450 - 460. RSI on 3 day shows where the ideal entry point is. Loading up on ALTS here!

Bongos45

Waiting patiently. We've just lost the strong support at 710, which was set up on the way up. Unless we can get over this level, it looks like we'll form a final low at 450 - 460. RSI on 3 day shows where the ideal entry point is. Loading up on ALTS here!