CennoCapital

CennoCapital

My previous idea seemed correct when it dipped, but BTC ended up going much higher. However it still needs to retest the upper red trendline to confirm it as support. If it does, we have just completed the first Elliott Wave of this bull run. This also allows us to see what the next levels will be with Fib extensions, assuming it keeps going up after this...

CennoCapital

I am hoping this is a trading range, as many gold stocks are setting up for entries as well. Although many have also had failed Spring entries recently. If it does not reclaim the lower S/R line, the next support is quite a bit lower, around ~$1560. When you look at the weekly, it looks like it is just consolidating near the top of the previous high, before...

CennoCapital

This is pretty much identical to my idea for Bitcoin which worked out almost perfectly (the wick went a little higher than expected This idea would probably only be invalidated with a WEEKLY close above the trendline or final Fib extension.

CennoCapital Updated 

It seems far too early to keep pushing up, especially as this very long term trend and Fib level idea has held up very well. I think we need to retest and confirm the lower trendline as support before going up more. This makes sense as to why altcoins are still moving up. If this was a legitimate resumption upward, money should be flowing in to BTC instead. There...

CennoCapital Updated 

So far Bitcoin has been respecting my trendlines and Fibs very well. See previous idea It's a bit insane, but we may just essentially be consolidating here before pushing higher past the last Fib extension without any real longer retrace. Nothing can be said until 2 days from now when this weekly candle closes. - If we close within this area of the Fib and the...

CennoCapital

Additionally, on the 4hr we also have a beautiful bullish reversal candlestick pattern at support

CennoCapital

I am hoping to see this daily candle wick back below the box and then a lower volume retest of the green line tomorrow, before a big push up with good volume. The stop can be relatively tight here, so this is a great trade to take. After the months of accumulation, we will hopefully pop quite high.

CennoCapital

I wrote a massive explanation but it got deleted somehow. so hopefully the explanation on the chart is enough. If not, feel free to ask any questions :)

CennoCapital Updated 

The green arrow line is obviously not accurate, it's a general gist of what I expect. Buying here, or at a wick to the lower support, or on the breakout if it comes are all good options. Combined with the fact the LINK looks like it's bottoming against ETH and BTC, I expect to see a nice big run, so the breakout will hopefully also have a good set up and not just...

CennoCapital

Fairly self explanatory. This is good enough for me to buy LINK here, but a break of the red resistance line would be good confirmation and reduce risk of further downside.

CennoCapital Updated 

This could easily be a spring entry if it falls below and gets back in to the consolidation box. So if you're not an idiot like me who shorted the exact top, wait for that retest of the box to confirm it as resistance. You can see the failure to move the price back up on the 1min chart as well The patterns are not the usual reversal patterns, and it keeps...

CennoCapital Updated 

Explain on the chart. I'm not 100% sure about this, but since my previous top idea played out well, I am still shorting. Low effort means it won't be able to push past resistance and should fall. It's a dumb move but good risk/reward.

CennoCapital Updated 

It is likely Ethereum has topped out here. Lower timeframes show a tonne of illiquidity patterns and a lower high, indicating total lack of strength to push any higher, so we will need to go down to lower levels until buying steps in. Given how slowly it is moving to the downside, and that all areas of support/resistance get bought up, I would say this is a...

CennoCapital

I believe the recent leg up noted on my previous idea was just a small wave which has now formed the first leg of a larger wave and has wicked off support. Glad I took profits right at the top, and will be entering again now with a SL around $1810

CennoCapital Updated 

This is a fairly simple idea using the only available trendlines from previous runs and Fib extensions. BTC is also coming up to the last extension from the first Elliott Wave in this bull run. I don't think this is the final top, but we will have a large correction from here. We are melting up on low volume after a large volume sell off at around 32k, as well,...

CennoCapital Updated 

Two possible paths ETH could take. It is unlikely to break down from here. 1150 is already confirmed as strong support with the large inverted hammer with lots of volume still unable to get below that level.

CennoCapital

From the breakout point at about $620, where ETH started goin really vertical, it has now completed a measured move, if we assume the entire section underneath that was an accumulation zone. It also matches up with the fib extension of the first Elliot Wave in this bull run, starting from the low in March. Likely retracement targets are around $750 - 800, and...

CennoCapital

As my last idea showed, ETHBTC has bottomed out and we've held the line. It now looks like a potential inverse head and shoulders pattern. A measured move will take the ratio to at least one of the two targets, assuming the pattern is confirmed with a breakout. Exciting times for Ethereum!