ETH to 25% jump in 1 week - Adam & Eve Double Bottom Forming
I've retooled the position for ETH. Follow if you'd like updates as we progress.
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You'll see the sideways action in the last few hours has created a cup shape with jagged edges, we'll continue expanding the cup shape but expect more jagged edges as prices gyrate around the arc of the cup shape. We'll see a break out soon followed by the creation of a pennant, so more sideways action for maybe a day or more, followed by another jump up. You could also think of it as Inverse H&S patterns forming one after another each with the neckline slanting up at a higher angle. That is what really make sure what everyone calls a cup and handle, and why they are only accurate when applied at longer time spans if you were to trade on just that pattern alone.
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We should be breaking out of the symmetrical triangle in the next hour, possibly less.
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See the two ovals? We're about to create a similar structure right now as the "wing" on the left. Right now might be a good time to get out, then reenter once we broken through the solid black line. There is a significant risk that we will be pushed back into the downward channel but there won't be a way to know for sure unless we get pushed down below the triangle. That would be the stop loss line.
See the two ovals? We're about to create a similar structure right now as the "wing" on the left. Right now might be a good time to get out, then reenter once we broken through the solid black line. There is a significant risk that we will be pushed back into the downward channel but there won't be a way to know for sure unless we get pushed down below the triangle. That would be the stop loss line.
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Nevermind, we're about to punch right through it
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There is a CRAZY amount of momentum here and the Bulls are dominating. Because of that we might not create the double bottom of the Big W, meaning we might just push past Target 1 with minimal effort. I'll post an updated chart with target 2.
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The path out of this hell forsaken triangle has become clear.
The path out of this hell forsaken triangle has become clear.
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Hey guys, we exiting the triangle within hours. Please note that the Adam bottom already happened on 2/6. We'll be creating the domed house from this point forward, with a bit of sideways action in between the ascent. Expect Bitcoin to hit 12k, then drop sharply, followed by a long period of sideways action, and gauge the movements for ETH accordingly.