chillcrypto

chillcrypto

Complete conjecture. Not financial advise. I highlighted an area at January 2021 where we had a pullback and then a very strong push up into March. At that time, we hit ~58 and pulled back to ~44. The difference here is that we crossed over the 50 Day EMA recently where we did not in January. However the same areas of resistance exist and in a time that the...

chillcrypto Updated 

Simply an interesting point of view to consider. Not financial advice, just a discussion point here while it is appropriate. Our current level matches wick down at Ethereum's peak timeframe. I am mapping out the 50-period EMA. Top chart is 50-day and obviously bottom charted calculated at the 50-period (3-hr view). The Puell Multiple chart...

chillcrypto Updated 

One thing I've learned over this last year is that as soon as everyone is believing we are going to continue higher, we pull back. And vice versa. Were the calls for a Bitcoin 'flippening' an indication of over-exuberance and obvious signs of a local top (which so far has been the case)? From here this could play out two ways IMHO. If the financial market can...

chillcrypto Updated 

The daily chart almost completely obscures the market correction. Interesting. Not enough information at this point to make an opinion about where it goes from here, other than we are hitting an area of resistance with ATH above. I have Algo stashed somewhere collecting %. Like remembering you have something in your closet but you don't quite remember where you...

chillcrypto Updated 

Someone is accumulating now on a monthly schedule, which has driven Grayscale Litecoin trust up 20%+ today. Prior, this has been a time for some to pull out but that is the worst time to sell IMHO. If you are underwater, and somebody is putting big money in, then again IMHO you should consider adding to your position. Obviously a great deal of risk but at a 20-30x...

chillcrypto Updated 

Seems like we have a fairly well-defined consolidation pattern here at the moment with a 47k support area. Money moved from ETC to BTC and now to SOL - as investors look for an elevator ride. :-) Downside risk is still in the 44k area.

chillcrypto Updated 

And why not... We had a great push up today and now profit taking back into Bitcoin. I tried this once, it would have been better to move back into a stablecoin or a more undervalued asset. But if you must, be my guest. My Bitcoin investment thanks you.

chillcrypto

Impressive gains and right on time. Very impressive! We could see a retracement to the $2.70 range or continue to bounce at the top of this upward channel.

chillcrypto

If you look back at this summer, we spent very little time at this level - both before the peak and after. Keep that in mind if we see another very strong day, that we have subsequently retraced/retested. Then, both before and after the peak, we attempted recovery again very quickly. In my case, I have funds such as Grayscale Ethereum fund that don't settle in...

chillcrypto Updated 

As our momentum wanes and a possible pullback (historically) in September possibly ahead, are we destined to retrace and re-test 43750-44000 USD? Or are we going to see more sideways consolidation? It just so happens our average Sept. pullback is in the 44k area. In the back of my mind... Although I was aware that 'Sell in May, go away' would likely happen, it...

chillcrypto Updated 

Prior patterns point to the current price as enough support to move back up. A rejection at 51 could bring us out of the upward channel down around 43.5-44 as we enter September. This seems correlate with other ideas here as well. Not financial advise. If we fall out of the current upward channel, then I will be exiting a few positions to reduce my exposure to...

chillcrypto

If you have a small position in this fund, you have already seen some decent gains. This is an area to test and confirm as support though we are coming up to September and need to be ready for a pullback. I have a very small position here, so have my stop loss inching up and will take the profit and miss out on a quick recovery (though usually Eth Classic and...

chillcrypto

This is essentially where I had problems a year ago. At that time, we would push up and then retrace our gains very quickly. As someone said, investing is easy at the bottom. That and I think profit taking will occur the closer to ATH we go. I have a band drawn out in the 42-44 range from last year and that area still holds true as both support and resistance,...

chillcrypto Updated 

Simply drawn out where we moved above an area that I drew out at resistance months ago, then pulled back to re-test support. We again recently moved above an area of resistance and have pulled back again and will likely re-test support. The risk is that as we move forward in time, retail investor FOMO will be heating up and we will see strong upside corrections...

chillcrypto Updated 

Although we've had a pullback today there is not enough information from my point of view to project a significant pullback ahead. I am watching volume depth however and will be pivoting to a more defensive position should we see significant negative volume. I've drawn a line I am monitoring in the second pane beneath the price activity chart. Pullbacks are...

chillcrypto Updated 

Ethereum has moved back to the top of an ascending channel I've drawn out from last summer move. This is a very strong upward channel that has indicated both resistance and support previously. This upward trendline is converging with an area from 3181-3584 has posed as both resistance and support previously. IMHO we need to revisit some lower levels to...

chillcrypto

We've been at this level before, but Ethereum is confirming both an upward channel. This weekend ETH moved through an area of resistance, but will need to confirm as support in order to move higher. If Bitcoin pulls back, then my expectation is that Ethereum will test the lower trend-line at around 2200. Assuming Bitcoin isn't yet ready to push higher this is a...

chillcrypto

Ethereum has been contained within a downward trendline since the May correction. Ethereum has previously been in the 2850 range and that will come quickly if the break above the downward trendline holds as support. The on-chain metrics seem to support a rising floor and this appears to be the point where we begin working on the upward channel. Looking back,...