the imaginary lines are whispering dirty thoughts in my ear...
Today was wild, we spiked 100 points in 1 candle. It brought us up right to this higher trendline highlighted in yellow circles.
How deflationary is ETH exactly? Enough to break the trend since top?
These next few days we will see whether ETH respects the trendline we've been following since the top. I personally dont believe the bear market is over, so Im leaning bearish. Although ETH is now officially deflationary so it makes it tough to compare to the 2018 rally/drop. There will need to be a lot more offloading from whales & major institutions to drive the...
We got PPI & CPI this week, dont be fooled my the bear flag break to the downside, if we get good numbers it could bring ETH back over 1300, if the numbers are bad, we could possibly expect 3 digit ETH soon. GLHF
Ok mfers, that jobs report was good = bad for assets bc fed can fck us more. Next week we have PPI & CPI, if these numbers come in bad we could expect to break this bear flag to the downside. Reminder: Mc Donalds has been increasing their prices for the past 3 months.. I dont think this report will be good.
We’ve basically been crabbing & forming a bear flag now near that key $1400 level I think we can see some big moves on Friday in reaction to the US jobs data that will release in the morning. That should set the tone for next week.
With the whole market testing lows, ETH needs to break roughly 1245 to see new lower price action. We've been sitting at 1300 for quite a while tbh. On another note, world currencies are going to shit and therefore might paint a pretty picture for the crypto open source narrative.
QQQ & SPY are testing new lows this week while ETH lows are still roughly $420 away
As previously stated, ETH broke out from the reversal trend it was on & the downtrending channel. This made me delete the drawings I had & start from scratch. Solid green & dashed lines are important weekly levels where as the dotted green lines are important 4hr levels. Will possibly dive into the 30 min levels for some decent scalp signals.
As of the 22 of Sept, we have been on a reversal trend, and today we have broken under that purple support line. I wonder if ETH will come back down to its original downtrending channel, or if it will start to create a new channel/pattern. Might need to redraw and find some technical hot spots. Will keep posting, this is kinda fun lol
The bull flag turned out to be a false breakout, looking to retest purple support trend & possibly break lower during the week
The trendline is starting to see more action with support and rejection, expecting a possible move down from here
Going back on the other post, this is what it looks like on a larger time scale, its trending on a line that has been forming for months
On the recent ETH pump it has failed to form new highs and is forming a bull flag on the 1 hr chart, look for a support zone around the white trendline