We have a possible Cypher pattern on the Ethereum 4 hour chart. Will take some time to hit the 786 retracement but it continues up from here to the 786 retracement up the D leg expect a move to the downside.
Continue to watch and set stops / limit orders accordingly.
Strictly my opinion.
On the Bitcoin Daily we can see the ascending triangle that's formed out of the double top we had. Wedge formation as well.
I believe we'll see a reverse head and shoulders form after this big push up.
If we can close above the 200 MA there will more than likely be some big up movements.
Looks like an ascending triangle is forming on the Bitcoin Daily chart. Will keep watching for possible breakout.
Alittle more down movement may happen before it heads back to test 11.7k
Bitcoin made a correction on the 4 hour alittle past the 61.8.
This is a key area that could be a possible bull trap. If bitcoin can close above 13,000. I think we'll be in the clear.
Expect bounces around 12,800-13,000.
I revised the possible bull trap area
We can see key areas to get through before we're in the clear of the downward movement.
It's always possible that this up movement will lead into a bulltrap as we approach $10,000-$15,500
4 Hour broke out of the wedge that formed yesterday making a new high. currently on a pull back. 2 key resistances need to be broken and closed above going forward. First resistance at around 0.00004810 ETH.
Buy zone around 0.00004500 - 0.00004600 ETH
This is a long term investment. No targets.
4 hour closed @ $9649. Daily has closed above the 200 Day MA and channel forming. I expect a continuation of the up trend. possible pull back to $8600 / 8800 - $9100
