It could be that ETH is now in the middle of the same fractal, because i see one that is not finished as well. Im gonna trade this one as a bottom, with tight stop loss, because stop hunt is maybe finished for this move. Daily divs forming as well.
Everyone is ignoring this long term trend line, and BTC is laying on it right now, when sentiment is mega bearish. In previous posts you can find more details. Anyway, this is the location for buying, not selling.
monthly MACD divergence monthly RSI support historical horizontal support area monthly inverted hammer
Even if price is still inside the bull flag, RSI already broke out from bullish wedge, and bounced right after retest of that wedge. Sometimes RSI shows the direction first, and then the price follows.
No comment, chart is more than words.
Well, there is always a possibility for fractal to playout, despite all indications that bottom is forming right now. My play is long, but I keep this fractal as a friendly reminder that panic selling could happen any time.
My previous ETH analysis was of because positioning of pitchfork points wasn't snapped to highs and lows. My mistake. If we extend upper channel to fit the high of 364usd we get pichfork extension of 2.34. If we apply same 2.34 to bottom of the channel, ETH hit exactly the bottom at 138usd. Trend is still intact, and this could be great opportunity for long with...
ETH is on the bottom of Pitchfork channel + long term horizontal support
Some basics trend lines and fib rules here. With market sentiment overly bearish atm, I feel short squeeze is coming sooner than later. If BTC makes botom here, that will be 3rd strong point of a long term trendline, and will make this trend line official.
Just some levels to assist you...
What's coin on guys? Just another fractal BTC have printed. If it plays out like the small one, we will see another beartrap while broking the channels trend line, and then another parabolic move (IF IT PLAYS OUT!!)
What's coin on guys? A couple of indicators are pointing LTC correction is on the way. 1. Price action combined with fibs has gotten LTC right in the golden pocket of previous range (61.8 – 65%) 2. Daily RSI bear div 3. Daily histogram bear div 4. Volume div 5. Top of the raising channel resistance 6. Rising wedge 7. BTC NVT still burnin' red 8. Market sentiment...
What's coin on? Well, there is a lot of things I could describe here, but I won't, because I charted pretty much everything relevant to my current bias. All indicators are indicating top, and potential reversal here. I could be wrong, but that option is less likely. Some indicators have still to confirm bearish divergences, but one thing is for sure, this rally...