CheddarBizcuitz

CheddarBizcuitz

A hard rejection at 200EMA sends ETH into the 3000s before recovering back to 3210 critical. Current candle close is expected to be within the support boundaries but weekly recovery (green intersection) is now a distance away. Failing to reach this goal may result in subsequent consolidation within the lower half of pattern leading to eventual...

CheddarBizcuitz

A strong hold at 50EMA keeps us close to the weekly close goal (solid green) with current price inside the W1 neckline zone (red highlight). Given recent lows we can expect a decent level of support at 3405 if another correction occurs. Regardless of position remember that the overall goal is to close above 3550 EOW. www.tradingview.com

CheddarBizcuitz

An unfortunate breakdown sends ETH back to EMAs after failing to flip pattern resistance. Price still holds above 3500 but remains at the lower W1 neckline and below the W1 goal. Recovery through a hammer close is possible but further correction seems better suited. www.tradingview.com

CheddarBizcuitz

A strong recovery breaks ETH out of ascending pattern with a few closes already established above zone. Look to continue momentum off 50EMA divergence, noting the next critical resistance at 3810. The weekly goal (green intersection) remains in play as this could still just be an outlier. www.tradingview.com

CheddarBizcuitz

ETH finds its way back above 200EMA with EMA divergence closing in. Keep an eye on W1 neckline (3520-3580) as a critical resistance point prior to 3685. The new weekly goal has been outlined which is still held within pattern. www.tradingview.com

CheddarBizcuitz

ETH holds in at 20EMA increasing the odds of eventual recovery. Flipping 50EMA is the current goal with 3405 alignment also in play. The W1 piercing marker (3685) is still our main goal in attempting another push to 4k+. www.tradingview.com

CheddarBizcuitz

ETH drops just below pattern support before recovering back to 20EMA. Look to hold momentum towards 3405 to prevent 50EMA crossover + further EMA convergence. Be aware of the possibility of a hanging man reversal on D1. www.tradingview.com

CheddarBizcuitz

A slight double-bottom brings ETH to 200EMA yet fails to hold momentum for a successful flip. Correction back to pattern support can be expected in an attempt at a larger-scaled double-bottom; this would place the next recovery around EOW. Today's view has been switched to H4 for a new perspective and clarification on recent pattern boundaries. Note that 200EMA...

CheddarBizcuitz

Price begins to recover but is rejected at 50EMA dropping us back towards pattern support. A double-bottom formation is now being assumed with neckline remaining at 50EMA. Look to avoid crossover of 200EMA and 3405 due to added resistance at a critical zone. www.tradingview.com

CheddarBizcuitz

A tough rejection at 3520 drops ETH out of the latest ascending pattern. Lows were just shy of wedge resistance signaling that we're within the final ascending layout. If recovery occurs expect resistance around red pattern support with the goal of flipping ~3405. www.tradingview.com

CheddarBizcuitz

ETH fails to flip extended resistance (dashed green) resulting in a volatile drop below 3500. Boundaries for this pattern have been finalized (green highlight) with a new ascending pattern now marked using recent lows and W1 piercing (3685). Prior wedge resistance (solid black) still indicates the lowest possible ascending support which may come into play if...

CheddarBizcuitz

An unexpected push breaks ETH straight through ascending pattern positioning us above the 3610 intersection and upper support boundary. An estimated extended resistance (dashed green) has been added for new consolidation while the original (green highlight) was adjusted to align with prior posts. The dashed red line (W1 piercing) may still indicate a critical...

CheddarBizcuitz

Price recovered slightly but not enough to successfully flip pattern support; boundary lines have been added in the case we re-enter zone. With weekly close approaching we should remain focused on keeping near 3500 to avoid higher-volatility correction. A long-term ascending layout using the previous wedge resistance (solid black) can be possible. Refer to this...

CheddarBizcuitz

A tough breakdown after ETH fails to flip 3610 resistance potentially marking the start of a bearish cycle. Recovery has brought us back above 3500 but still remains below the lower W1 neckline limit, prior ascending support and EMAs. Remember that if this scenario holds true we should look to close weekly at the indicated intersection. www.tradingview.com

CheddarBizcuitz

A nice double-bottom recovery brings ETH back above EMAs though rejected again at 3610 (adjusted from 3615). It's possible to have this priceline act as an alternative pattern resistance marker which would position final breakout at W1 close. Given the amount of consolidation so far we should still be wary of possible breakdown however today's position is much...

CheddarBizcuitz

Rejection at 3615 prevents 50EMA alignment sending price back within the ascending pattern. With final breakout closing in we should aim to push above 200EMA to avoid EMA convergence. Ultimately look to sustain 3500 until pattern crossover for the best recovery chance. Keep in mind that signs at this time lean towards a pattern breakdown. A marker has been...

CheddarBizcuitz

Price managed to hold pattern sending us back into the 3600s before rejection around W1 piercing (3685). Consolidation is now between short-term EMAs with 50EMA providing a bit of support to prevent further pattern fillout. Look to push beyond short-term EMAs/3615 in order to raise 50EMA to pattern resistance. If sellout occurs focus on keeping above...

CheddarBizcuitz

ETH finally breaks pattern with a number of closes established above the W1 neckline (3580). However be wary as 50EMA divergence is struggling to succeed due to resistance at 3615. A daily close below 3615 (10 minutes) could trigger reversal and send us back into consolidation. www.tradingview.com