Updated

ETH possible path

It's a kind of personal memo.
I placed some support, trend line. It's an extrapolation of what happened with the previous waves.

In black, a possible path but it doesn't really matter, it will play between support/resistance/supposed trend line. It can touch the bottom before my black line.

It's slowly going down with some up. It will take time. more or less 1 week ! Boring days.

Let's see step by step ! Anything can occur. Check parameters is something is preparing.

The good news, from now we can't lost money if we hold. The next supposed resistance of the banana trend line is 460 $ in one week.

Note

My green support line @430$ is reached. In reality, 431$. I'm lucky, it was pretty accurate !
It's moving up and down on this support. It's strong. I've seen on gdax a sell wall of 700ETH bought in 2s ! 15mn chart says 'ok'

So let's do micro trading to make a few bucks. Buy on the support, sell on the resistance.

Note

Compared with the past in the same situation, the volatility is low ! Thousands of ETH eaten, and nothing move a lot. Another drop coming ? May be ! I placed the next support @ 417$

Note

We touch the previous support(@425$), will it bounce ? may be ! it's going down, but slowly.

Note

I'm lucky, my path was OK, no surprise. Let's wait 415$

Note

Everytime there is something different, but I don't know what. So I placed all the possible support. And let's see !

Note

I tried a different kind of chart.I don't like "banana chanel",I did a new one with a log paper, as when I was in engineer school. It appears that a few days ago we where out of the downtrend chanel. But... we are in again.
What does it change ? We can go faster and deeper than expected before !

Note

We're in a small downtrend chanel. Slowly going down. The path I described a few days ago is good. But... I'm disapointed it did'nt go so down before. I don't know what's next :(

Note

If I look in the past we had many time this situation.
Is there something different this time ? The old downtrend who rejected many time the line seems "on" again. So, let's wait for the next buy or down signal

Note

My previous idea worked. It's going down roughly rejected by the downtrend line.
If I'm not sleeping, I'll start to buy on a support.

Note

a few minutes later... on the support again ! It doesn't want to go up. And it doesn't want to go down.

Note

There is a hudge support. It really doesn't want to go down. On BTC, same thing. So, I expect an ultimate dump, and up.

Note

No real ultimate dump, it's too bullish. It's up now ! But I suppose it will go up slowly with many up and down

Note

there is only one ajustment to do in my previous post: the throwback is small each time. Bullish sign ?

Note

I sold at the top. I'm waiting for a better situation. The resistance can be broken, or. can lead to a dump.

Note

Finaly I bought during the breakout, and took my benefits at the top (again ! ). I prefer doing micro trading. We are in a kind of no trade zone. The big H&S is near to be OK !! Now we are in range to break the upper previous trenline. I suppose there will be an accumulation phase before . I expect a breakout. But as usual let's see.

Note

It was just a step in the big bump. 5mn MACD was red, and... price slowly up ??? so, when 5mn MACD turned to green, "BUYYYYY". Thanks ! I'm in again :)
And bitcoin doesn't stop.
Next target: pink line

Note

downtrend successfully broken. Re accumulation. And... Up ! Then Correction. UP again. Thanks Wyckoff :)

Note

Just for fun. Cup and handle in formation

Note

Are they the same fractal, one bigger than the other ??? Let's see

Note

previous idea failed! the macd was different, so, not the same fractal. Small dump !

Note

I was true in fact ^^ It just needed to go a bit more down. There were a buy signal IMO... And a nice and slow up began

Note

GOAAAAAAAL :) :) :)

Wavema

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Wavema