i95kjones

i95kjones

Reflecting past resistance to predict possible future resistance.

i95kjones

It requires a lot of imagination to see all these weekly indicators do a U turn before the end of the year.

i95kjones

Either way it appears the odds are in favor of a short term pullback to the neckline as the volume slows down before a new high is able to break the pattern. Educational use only. Kristian

i95kjones Updated 

The 2 day chart for Ethereum is lining up with the money flow and slightly overbought RSI just in time to complete a cup and handle pattern for a new high. A successful test of .38 on the Fibonacci takes a lot of pressure off justification for longer hands to jump in.

i95kjones

With the RSI and MACD working against the bulls I think it's likely that we have more correction activity ahead.

i95kjones

It appears the bears are going to remain in control at least until .38 or $1577. A prominent "Head and Shoulders" pattern has formed on the 4 hour chart and the RSI is still not oversold enough for a bounce. The MACD deceleration is also working against the long hands.

i95kjones Updated 

I think BTC might bring ETH down to a 50 percent Fibonacci retracement especially since the 200 MA is unnaturally distant. The MACD flow looks anemic at the same time.