ETHUSD Initial pullback completeseveral days ago when ETHUSD was hitting the long term Support/Resistance Level (S/R Level) $684, which strangely enough was the breakout target of an ascending triangle pattern I noticed last fall, in October. The recent bottom of ETHUSD around $383 is where the upper boundary trend line of that ascending triangle from last fall.. I had a pretty good hunch that that was the bottom when it hit it, TradingView let me know as I had set an alert on that trend line. March 30th, I posted it to Canadian Crypto Collective page on Facebook www.facebook.com on April 7th I posted that the support at $383 would cross the daily downtrend resistance trend line on April 12 and that day it would break out and start an uptrend or breakdown.. April 12th it broke out starting this new uptrend. April 23rd, I posted that there would be a pullback as it had just hit the $684 level and suggested a pullback to the current trend support in the daily time frame because we had been following what I call the primary trend, which is steep and took us far from the support trend and the $684 S/R Level is historically strong and would initiate a pullback to the current trend in the day timeframe at the very least.. we have a few days left till the current trend support line crosses the $684 level so it could be tagged again.. going forward, a break below the current trend line we will most likely drop to the initial trend support line.. I have them all tagged on the chart to help identify them,, this video shows the price movement as I predicted in my Facebook posting on April 23rd
Here is my postings on StockTwits calling that a pullback was imminent... stocktwits.com
Enjoy and stay tuned, I will try to publish more Ideas.. I post mostly on StockTwits and have a Twitch channel www.twitch.tv
My Specialty is Trend Lines, Levels and Volume. I used to use more indicators etc, RSI, Stochs and Fibs etc.. I have been doing my own research for the past 4 years into trend lines and behavior around them, some chart patterns.. but I'm very good now at picking powerful levels and can predict price movements with pretty reasonable reliability.. I'm not always right but the information is useful.. especially if it's an unexpected breakout..
Anyway, hope you find this useful
