mdyassink

mdyassink Updated 

On the daily chart ETHUSD seems to have formed a cup and handle pattern. Currently it would seem that we are printing the handle. There is a breakout trade possibility above the resistance line (based on the rim of the cup where 2 resistance points have already formed from the start of the cup to the end of the cup rim). Also BTCUSD CME gap is currently on the...

mdyassink

A hidden bullish divergence is forming on the 4hrly chart. If the price maintains bottom of 227-228 max and bounces then this will be in play. Just an observation. Weekdays are still better trading days ever since the crap CME gaps have to get filled for no reason whatsoever. Possibly just to give the manipulators an excuse to dump and liquidate long margin...

mdyassink Updated 

We are currently on an ascending parallel channel. We should keep the bullish momentum as long as we stay above the 50% fib retracement level at about 241+. There may be another ascending parallel channel formed if price breaks the bottom of this ascending parallel channel but manages to stay above the 50% fib retracement price of 241+. Beware of the bearish CME...

mdyassink Updated 

After the breakout from the descending triangle, the hourly seems to show a right-angled descending broadening wedge . What does this pattern mean? It is explained from the link provided that this is a bullish pattern. It is also important that it bounces off the top of the previous triangle that it broke out off which at the point of writing is being tested. If...

mdyassink Updated 

Descending Triangle breakout trade opportunity. Breakout should happen by 4th March, Wednesday. I am leaning bullish as I always am due to the long-term bullish trend on bitcoin. ETHUSD price is correlated to BTCUSD price movement and the halving is around the corner. Also i have a previous chart that touches on the fact that ETHUSD got rejected about at least 9...

mdyassink

The previous price action in mid 2019 ETHUSD has at least 9 rejections from the 260-290 levels before finally breaking through resistance to hit 360+ high. You can observe more precise action on lower timeframes. It would seem we are currently repeating the same pattern. Furthermore, the halving is just around the corner. Keep those margins healthy and protect...

mdyassink

Bullish divergence forming on hourly chart.

mdyassink

Bullish divergence forming on 4 hrly and daily charts. Time to buy the dips? Is this what is needed to finally clear the 61%-65% pocket and get to our new 2020 high? Trade with care. Nothing is 100%.

mdyassink

Possibility to long from the bottom of the long-term ascending parallel channel. Just sharing an observation. Every trade is a risk. Trade with care.

mdyassink

The 61.8% Fib Retracement Level is meeting up with the bottom line of the ascending parallel channel. Lets see what happens.

mdyassink Updated 

ETHUSD is attempting to cross the critically important 61%-65% Fib Retracement level (dark zone in chart). After which it needs to bounce off strongly and stay above this level. To get in wait for dips to support levels, wait for a good bounce before getting in. I have another chart that has some interesting support levels you can use. Take note that in the...

mdyassink Updated 

Check out the similarities in the chart.

mdyassink

Hidden bullish divergence has been forming on the 4hrly ETHUSD chart. Hidden Bullish Divergence: Higher Lows for Price + Lower Lows for RSI This usually means that: Indicates underlying strength. Good entry or re-entry. Occurs during retracements in an uptrend. Nice to see during price retest of previous lows. “Buy the dips” As indicated lets see if ETH has...

mdyassink

The key main support levels that are coming up are: - $245 to $247 (minor support based on recent price action and also where the nearest ascending parallel channel is at) - $241 (major support based on 50$ Fib Retracement Level) - $237 (minor support based on past price action) At the most what can happen is a scam wick where they dump heavily imediately, which...

mdyassink

All bullish signals are still bullish, this rejection from fib retracement level causing correction is nothing new and has always been part of price discovery. The last uptrend also has many rejections at the 275 - 295 area for ETH. ETH facing the same task ahead again.

mdyassink Updated 

Just wanted to share this. Within the mahjor ascending parallel channel, ETHUSD is forming minor ascending and descending parallel channels breaking out in a timely manner upon reaching the top and bottom of major ascending channel. Its definitely interesting to note. Cheers! Note: There was a mistake. I meant the fib retracement level 61.8 (268.87) and 65%...

mdyassink Updated 

2 Patterns have played out with a bullish breakout. Can a third time happen? Wait for breakout to trade. Good luck!

mdyassink Updated 

Wait for congfirmation. The breakout target seems to be very near the the next fib retracement resistance level at 61.8% @ about $11032.