EthereumLong
ETH - What's Poppin'
Updated
Hello guys, vOid here, took me a little bit to update as I was waiting to see if we were going to move sideways a bit or keep dumping into oblivion.
Good thing, my oct. 2 chart was right on point, except it took 3-4 days longer before the dump to 185$ occur. So what is poppin' since then. Well as you can see, we hit that D1 Bottom Range and bounce off of it in a bullish way, which is good sign for now. We made a higher low, which form a sexy trend with sept. 12 lower low.
Right now price is moving sideways and squeezing under 0.236 fib. If we are retracing, I expect price moving towards .5 - .618 fib in short term but not breaking blue box, just moving sideways below it before breaking it.
If we look on M15, we can see an ascending triangle forming, making higher low but getting rejected on SFP everytime. Volume is diminishing which is a good confirmation of the pattern. 194 ~ looks like a good support at the moment too. As soon as we break that M15 SFP, we go right up to 208 resistance.
If we look on D1(FINEX more data), with the newly formed higher low, we can safely form a channel connecting the 2 lows and the single high. Add a fib retracement and you can clearly see 0,786 as a good spot to retrace to and to form a higher high without leaving channel line. But first, we need to smash that SFP Line as hard as A. Silva legs.
Good thing, my oct. 2 chart was right on point, except it took 3-4 days longer before the dump to 185$ occur. So what is poppin' since then. Well as you can see, we hit that D1 Bottom Range and bounce off of it in a bullish way, which is good sign for now. We made a higher low, which form a sexy trend with sept. 12 lower low.
Right now price is moving sideways and squeezing under 0.236 fib. If we are retracing, I expect price moving towards .5 - .618 fib in short term but not breaking blue box, just moving sideways below it before breaking it.
If we look on M15, we can see an ascending triangle forming, making higher low but getting rejected on SFP everytime. Volume is diminishing which is a good confirmation of the pattern. 194 ~ looks like a good support at the moment too. As soon as we break that M15 SFP, we go right up to 208 resistance.
If we look on D1(FINEX more data), with the newly formed higher low, we can safely form a channel connecting the 2 lows and the single high. Add a fib retracement and you can clearly see 0,786 as a good spot to retrace to and to form a higher high without leaving channel line. But first, we need to smash that SFP Line as hard as A. Silva legs.
Note
H4 - Possible scenario ?Note
M15 - update, SFP breakout bullish AFNote
Nvm, it didn't break had to wait confirmation, now I have confirmation that we might be dropping down to retest trend, let's hope it hold and bounce of it !Note
Good morning everyone, little update on that M15 chart from 10 hours ago.We did drop toward trend but didn't manage to make a lower low, which still confirm the ascending triangle pattern.
Same thing on H1 chart, printing higher lows, volume is still dropping, I expect a move by Weekly close today.
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Alright, alright, weekly is close, time for an update. Like I said in my last update. I expected a move by weekly close, which happenned. We dumped to make a higher lower and it pretty much look like a double bottom right now.As you can see the volume is lower on 2nd drop, which is one confirmation of a double bottom.
As for the weekly close. We can see that we close higher then last low and inside the channel I draw earlier. The green box looks like a good pivot point at the moment which could be a good entry point (I'm no financial advisor, just a student taking notes).
Here's a crazy scenario, I only posted it to have fun and see in a near future my prediction.
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Alright, I just woke up, time for a small update before leaving to Uni. As I said earlier, for us to pump higher, We need to break that SFP line around 228$. When you look on D1 chart (alright, I took Bitmex chart this time with what going with Finex, 15$ diff. between MEX and FINEX). and we got rejected of it, again. Here look : I need to take my Finex chart back since MEX doesn't have enough data for me yet. If we look, we broke that upper minor trend, tested SFP got rejected (expected). I'm still bullish towards that ,786 fib retracement, I just need a couple more confirmation.
As for H1 chart, as I previously said, .5 - .618 fib was a good retracement level. Combine that with the double bottom of yesterday, it confirms that move up.
If we take a look at candle pattern after the move up, we can clearly see, after the correction of the move up that a DOJI and a Hammer formed at the bottom of that small correction, which in my opinion is a good sign of a reversal point. Volume is dropping, we corrected to last resistance(new support). This looks really good to me. I expect a consolidation below SFP, moving sideways a bit if you prefer.
Alright, this was a short update, I will be back in 5-6 hours for another update if there any happening. I expect us to consolidate below SFP until then let's see.
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Oh god, I'm sleepy, linked the same chart 2 times, here's the D1 Finex chart I was talking about in my last update : Sorry, have a good trading day,
vOid
Note
Holy shit, before I leave, still need confirmation but looks pretty good, it looks like there a double bottom forming on D1, lower volume on 2nd bottom, green bullish engulfing candle right after bottom, I will need to update later on but looks pretty good to me, watch that SFP line get tested again.
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