mess_on_a_mission

mess_on_a_mission

While BTC had v. nice run from the lows ETH looks much worse, I dont think V recovery is in play, there wasnt that much liquidations yet, I think ETH will hit new lows and BTC will go somewhere towards double bottom.

mess_on_a_mission

As price goes down we still can see possible channel pattern but we must hold around 2.600-2.800 to keep it valid. Even if we got bottom it can take weeks of side action before proper break up.

mess_on_a_mission

#ETH looks like ready to repeat channel pattern like in every previous cycle. But first let's if DB will work here. If so we should get only higher lows from here and start parabolic run after breaking 4.000 USD.

mess_on_a_mission

Looks like nice and legit channel on ETH. We want to see a second test of the lower band around 2500 USD. If this holds we should see slower growth to upper boundary with volume break around 4.5 k to start parabolic run to the upper band of the channel.

mess_on_a_mission

Lokks like solid channel on ETH. One of those which we want to double tap lower band, climb towards upper one and break it with volume to sart prabolic growth.

mess_on_a_mission

Lately stocks look better than Bitcoin but it can be missleading. It's normal that crypto can bottom faster than stocks, as we can see we can be near the bottom on crypto but it can take several days for stocks to bottom, like it was two of the previous times. Nevertheless if Botcoin will nuke once more and stocks will dive in next days it doesnt mean that BTC...

mess_on_a_mission

Thats just idea if pattern from previous capitulation repeats and broadening wedge will play out. In that case it will be usefull to search for a channell pattern in log to try to find long term target.

mess_on_a_mission

All crypto market looks really bad. Probably it's time for capitulation event. And while we had one during covid crash we can look at the structure of price to know that now it looks very the same. What is interesting is that then everyone was claiming that it wasnt possible to recognize the bottom, but was it really when we look at the ETH ? Broadening Wedge...

mess_on_a_mission

Short term imo it's nothing bullish on the chart, so classic November correction is very likely. The question is will we visit new lows or or bulls will manage to create solid higher low. In that second case I can see chance to create nice ascending channel with breaking current descending one around end of the year.

mess_on_a_mission

ETH in lower time frame looks similiar to previous distribution pattern, we can move sideways with potential one more leg up towards 1800 usd. From there imo we will start dropping.

mess_on_a_mission

Despite positive price action last month consolidation looks rather like redistribution. A lot more inflows than outflows, no clear signs of accumulation yet. Imo if we reject here hard 18.2 wont hold. That could lead us even towards 14 k, and that's why: - that would be test of 2019 top; - that would be a lower band of the falling wedge; - it would be 5th...

mess_on_a_mission

It's really interesting that actual conslidation look pretty much same as previous... distribution, but its 100% inverted. The last phase got flettened due to clear rejecon in the distribution wedge we had few months ago. So imo its quit clear now - make it or break it. Rejecton here should lead to finding liquidity under the low. Nevertheless from there imo...

mess_on_a_mission

Imo during that kind of patterns where we can see obvious channel mid line of the channel is very important resistance. Till we wont break it rejection is more likely. That's why I would like to see a third touch of a lower band of the channel before any upward price movement. That would be double bottom pattern and the timing is possible around 13th October,...

mess_on_a_mission

Shape of that huge channel is to perfect to ignore it. Joning upper band with median gives us one more potential leg down inside the wedge with target around... CPI date 13th of October.

mess_on_a_mission

Nothing bullish yet on eth, imo double bottom is so much needed to push the price really hard in id term. Breaking nicely 1400 should give us nice run up, reject here and I think we will retest lows.

mess_on_a_mission

My guess to the current pa is that we are preparing bull trap and this break out will be already done or we can push towards 20.5 from where after taking highs we will start to fall down really hard.

mess_on_a_mission

Huge accumulation pattern on eth still looks great. Imo we need to create strong higher low/double bottom pattern to keep it alive. So in short term I would like to see second test of the lower band of the channel around 1.000 usd and that must hold.

mess_on_a_mission

As we can see this multi year net of parallel channells keeps working nicely so far. Every upper channel is shallower as market bull runs are shorter and less parabolic. We hitted floor down and this has to hold as a bottom with potential run towards next, more shallow, upper bands of channells. If this wont hold that would mean we will have much more of the...