Be Caution: Back Test Support
Updated
Very Short Term Correction has completed.
In process of back testing support. (Another mid-term healthy correction)
Back test support target might be as following:
(1). 10 days moving average. (60 bars moving average of 4 hours chart)
(2). 15 days moving average. (90 bars moving average of 4 hours chart)
(3). 20 days moving average. (120 bars moving average of 4 hours chart)
Even the worst case back testing the neckline, ie, the 50 days moving average.(300 bar moving average of 4 hours chart)
While back testing, and if it gets support, then it might form the Ethereum Pattern.
An illustrate of Ethereum Pattern (published on 5th Jan, 2019.)
Let's observe if the correction has been completed or not. (Published on 6th, Jan, 2019.)
How fast it is.
It hit my target, already.
Bitcoin bull coming back. (Published on 7th, Jan, 2019.)
Two pattern:
(1). Rise up to sell
(2). Push down to buy
(Published on 7th, Jan, 2019)
In process of back testing support. (Another mid-term healthy correction)
Back test support target might be as following:
(1). 10 days moving average. (60 bars moving average of 4 hours chart)
(2). 15 days moving average. (90 bars moving average of 4 hours chart)
(3). 20 days moving average. (120 bars moving average of 4 hours chart)
Even the worst case back testing the neckline, ie, the 50 days moving average.(300 bar moving average of 4 hours chart)
While back testing, and if it gets support, then it might form the Ethereum Pattern.
An illustrate of Ethereum Pattern (published on 5th Jan, 2019.)
Let's observe if the correction has been completed or not. (Published on 6th, Jan, 2019.)
How fast it is.
It hit my target, already.
Bitcoin bull coming back. (Published on 7th, Jan, 2019.)
Two pattern:
(1). Rise up to sell
(2). Push down to buy
(Published on 7th, Jan, 2019)
Note
How fast it is. Hit our estimated Target 1 (146.00)
It seems above 165 is a Copper Wall, And the 148 is an Iron Bastion during this period.
2 possible development that might it be:
Possible 1: W development, then breakthrough above Copper Wall.
Possible 2: M test support Zone, then U turn development and breakthrough the above Copper Wall.
Let's keeping watch the potential developement.
Note
Market goes our second guess possible development,
Back test the supporting level.
Just hit our second back test target.
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