yeetus247

yeetus247 Updated 

An expansion on my previous post. A look at some of ethereums recent chart patterns performed. For now, we await for the diamond pattern to play out and watch for a retest of support or resistance when the breakout occurs. If it breaks down we will likley experience support at the 0.382 fib. Otherwise we will likley have resitance at the 0.5 fib which is...

yeetus247

Ethereum is still within its consolidation range after rising 56% and finding resistance at the 0.5 fib retracement (blue arrow). Just before hitting its head on the 0.5 it broke through the 0.382 on its second attempt and successfully retested it as support (red arrow). If we come back down from testing the 0.5 we will likely have support at the 0.382 as...

yeetus247 Updated 

I believe that this cycle we could experience a double peak similar to 2013/14. Looking at the first runup in 2013, compared to the second, they match very closely. Comparing that to the recent runup, I think this could occur again. Beforehand we will likely be experiencing a few months of sideways action. Perhaps I am too naive and optimistic. Let me know if...

yeetus247 Updated 

Hey guys, This is my first go at technical analysis with some help so there might be some errors. If you see I have done something wrong please point it out, I welcome constructive criticism, please don't be an asshole about it though. With that being said I think that Etherium will be making a large move soon. I think it will most likely go, if so, quite a bit...

yeetus247 Updated 

After breaking down from a recent pennant it is now decision time for Bitcoin to print another low. The question is whether or not it will be a higher low in the short term. Failure to print a higher low could result in a further drop and more continued macro sideways movement. Whereas printing a higher low may assist the price to push higher and have another...

yeetus247

An update to my previous post... Adjusting the support line slightly (the added blue line) the chart can be seen as already having broken out of a pennant. After the initial breakdown, it retested the support as resistance and failed. It then dropped 1.80% within the hour. In hindsight, it seems like a textbook pennant. In my previous post where I had a larger...

yeetus247

This chart in conjunction with my most recent one shows that a 42k+ BTC could occur sooner than expected. Possibly by the end of the day if the bullish breakout from this pennant occurs and meets its target. Otherwise, a breakdown to 38k would delay 42k, that's if it's still on the table within the next week (based on previous post). As a note, it is important...

yeetus247

BTC looks like it has broken above a rising wedge and coming back to retest it as support. If we can hold the support, then higher prices (above 42k) could be possible in the short term (days-week away). Moving up too quickly without a retest may lead to only a temporary increase in prices followed by a more sideways movement which we have been seeing for the...

yeetus247 Updated 

Disclaimer: I'm new to TA. I think the bearish pennant is likely to break down as we are in an overall downtrend in higher timeframes. Additionally, momentum is heading towards negative on this timeframe. There is strong support between 33k-34k. I don't think we will go below this especially because we are getting higher lows since the dump on the 19th. I think...