CheddarBizcuitz

CheddarBizcuitz

Price holds in at pattern support after EMA divergence gets rejected. Further recovery is possible if we can maintain within pattern. Still be aware of the chance of correction and the assumed W1 3k close. www.tradingview.com

CheddarBizcuitz

Price remains below 3125 as short-term EMAs close in on divergence. A breakout here could send us out of pattern and to the next D1 marker at 3371. Keep in mind the assumed W1 close at 3k, especially if pattern breakout is rejected. www.tradingview.com

CheddarBizcuitz

A strong push brings us to 3125 as price looks to keep above 200EMA. Holding pattern is possible which could lift us out of consolidation range. Refer to 3210 as next resistance if this occurs; the W1 goal at 3k will remain for now. www.tradingview.com

CheddarBizcuitz

Another rejection at pattern places us back below 3k and short-term EMAs. Consolidation between 2878-3125 is still expected until EOW with a 3k close goal. Note that this keeps us below pattern but may trigger a quick breakout if close goes well. www.tradingview.com

CheddarBizcuitz

ETH finds it's way back to pattern as we look to hold primarily above 3k. Our goal for the W1 inverse hammer can be also be adjusted to 3k which provides a better close position. The consolidation window is now assumed to be between 2878-3125 until the above occurs. www.tradingview.com

CheddarBizcuitz

Rejection sets in at 50EMA/pattern support to prevent double-bottom recovery. Price now sits at 2878 low and poses a higher chance for further correction. Our hope now lies in a W1 inverse hammer which would require us to maintain consolidation between ~2875-2950 until EOW. www.tradingview.com

CheddarBizcuitz

ETH pushes back above 20EMA and now sits between 20 and 50EMA. Recovery is expected to carry out into tomorrow and should reach ~3050-3075. However this will need to occur sooner than later given the 3k/pattern crossover. www.tradingview.com

CheddarBizcuitz

ETH maintains it's position above 2878 while slowly rising to 20EMA. Start of recovery should occur soon if the double-bottom holds true. Note the close alignment of 50EMA and 3k which could make this zone tougher to break. www.tradingview.com

CheddarBizcuitz

Price continues to hold above 2878 keeping us in position for a possible double-bottom recovery. We should expect this to carry out by or on 5/14 to brings us back above 3k. A slight ascending could still be in play if a correction occurs after recovery. www.tradingview.com

CheddarBizcuitz

A tough rejection at 50EMA sends ETH down to the previous average low and outside pattern. We now look towards a possible double-bottom with recovery expected over the weekend. Unfortunately this could be the start of further correction, noting next support around 2800. www.tradingview.com

CheddarBizcuitz

Recovery brings us back above 3k with short-term EMAs as the current goal. Expect price to hit 3180-3210 eventually but a breakout may not occur until later. As of now it's possible we see another touch at 3500 sometime mid-month (5/17). www.tradingview.com

CheddarBizcuitz

ETH drops below 3k but establishes another low to potentially finalize support. Recovery is expected at this point but continuation to 2875 (2878) remains possible. Our goal should be 20-to-50EMA divergence -> 3125 -> 200EMA. www.tradingview.com

CheddarBizcuitz

Price drops to 3k with support holding in so far. Look to maintain closes here but expect the possibility of lows below. Also keep in mind the bearish entry direction which could alter us to 2875 (double-bottom). www.tradingview.com

CheddarBizcuitz

Resistance holds in at 200EMA/3210 dropping ETH back below short-term EMAs. An ascending pattern has been outlined and will be adjusted if additional points come into play. For now we can expect a drop to 3k but closes should remain above this zone. www.tradingview.com

CheddarBizcuitz

A successful flip at 3125 triggers short-term EMA divergence as we look to continue past 200EMA. With 200EMA and 3210 close together we can expect a decent amount of resistance at this zone. The possibility of a smaller ascending pattern is in play which would drop us back to 3000. www.tradingview.com

CheddarBizcuitz

ETH makes its way above the first D1 piercing goal (3125) in an attempt at EMA divergence. Being able to maintain 50EMA is a good sign for continuing recovery. Keep in mind that a drop is still possible and we should look to remain at 3k if this happens. www.tradingview.com

CheddarBizcuitz

A strong recovery brings us above 50EMA with resistance holding in at 3125. Maintaining 50EMA until short-term divergence should be the current goal. However a drop to 3k is highly possible before this scenerio occurs. www.tradingview.com

CheddarBizcuitz

Resistance continues to hold at 3k/20EMA in another attempt to reflip zone. Recovery could send us back to 200EMA but remain cautious until a close is established. The D1 piercing markers (green) have been left in to indicate critical goals. www.tradingview.com