I took awhile to write because patience is key. I wrote that in my last post that I have also linked here. I would not have bought these past two weeks because it doesn't make sense. So far I have been correct. Taking a look at where we we are on the daily now, we are seeing more and more pressure for a sell-off. Price tried to break my redline but did not manage...
It's been roughly a week since I saw this chart. I definitely will be doing more weekly chart updates, especially since ETH is my largest bag.
So far if all holds true, the head should be near completion in my head and shoulders pattern I saw on the daily from awhile ago. The real kicker is that price channel is bullish and it bounced off the support channel...
Lets take a look at one of my favorite coins. ETH has done well to recover. I definitely feel that it will reach the 286 levels we were prior the the meltdown that was COVID19. However I write today to inform about a downtrend that I see occurring. Here are some factors that show ETH on a downward slide for now
The Breakdown
- Red Trendline that ETH is...
What a week for Crypto! Honestly no matter how hard you tried, you couldn't escape the news regarding COVID-19. Crypto was not immune as we can clearly see based off the prices across the market. We can certainly kiss the idea of Crypto being a safe haven goodbye for now because whales were pulling their money out faster than you can say WTF. It broke through many...
I am liking this setup. We broke the red resistance line that I created. not only that, we are getting a convergence of the two MA with the 20 potentially crossing up the 55.
Things I like about this setup :
Above the 20 MA
Broke the red resistance line
Forming an uptrend (green line)
Above the two Ichimoku indicators (conversion/base) for more support
I like...
LTC is a tricky one to predict. Consider that LTC has been leading the way earlier this year and not BTC. Although BTC gets the news, LTC was usually the first to move (pump) with BTC then eth/alts. LTC topped out June 22 '19 with BTC following June 26 '19.
While BTC is playing more of a traditional DOW theory thus far (and I use traditional in the loose sense...
Considering the move that ETH/USD (as well as the crypto market) has done, it can be said that the bear market has been in effect since June. After we reached a high (wick not close) of $364.49 (coinbase), the profit taking commenced. We are closing in on month 4 of this bear market and we still have a few more pegs to drop.
Considering the .618 Fib that's...
