CheddarBizcuitz

CheddarBizcuitz

Not much volatility lately as price continues to consolidate between 2500-2600. H4 closes remain between the solid green and 2600. A slight adjustment was made to the trendline using the H1 chart; intersection is now shown around 3/19. As long as we hold above this zone I believe there could be a chance of a bullish breakout. Keep in mind that the green line...

CheddarBizcuitz

Slight dip below long-term triangular support (solid green) but closes remained above 2500 critical; another example of what seems to be crossover support (see below***). As a result, daily closed in the red which prevented a continued (triple) candlestick pattern however that was just a short-term scenario. I still believe a bullish breakout could occur anytime...

CheddarBizcuitz

Sideways action continues with price consolidating between 2600 and lower green line; a hold here indicates that we're not completely bearish (yet). Although I had mentioned this yesterday I'm still rather surprised that it followed through. The scenario itself could present a bullish breakout by preventing another significant convergence phase on D1. The...

CheddarBizcuitz

Tentative support at 2550 held in to prevent further correction to 2500; 2600 still acting as critical resistance. Two new lines added (solid green) to indicate a long-term symmetrical triangular pattern. These extend from the start of the cycle around 1/05-1/08. Based on entry direction (dip), along with the fact that we didn't fill out a bottom-recovery, it...

CheddarBizcuitz

Another dip off yesterday's candle to send us back below 2600 and yet again prevent a breakout attempt to long-term trendline (solid purple). Extending both the short-term triangular resistance and long-term low (solid red) trendlines displays current price consolidation zone. Don't be surprised if we continue to drop to next critical support at 2500 (or ~2450...

CheddarBizcuitz

Critical resistance held in at 2750 to prevent a breakout attempt back to long-term trendline (solid purple). Note that the correction low touched off the short-term triangular resistance trendline {3/09} however closes remained above 2600. This is a good sign indicating support strength and a potential reversal (versus bearish breakout if triangular resistance...

CheddarBizcuitz

Apologies for the late post guys, been having some internet issues and then my TV charts reset on me :/ We received a nice bullish breakout off yesterday's candle which pushed us all the way to 2750 critical resistance with a high just short of 200EMA. Further momentum could send us back to long-term trendline (solid purple) before another notable correction...

CheddarBizcuitz

Big dip off yesterday's candle but recovery took us back to 2600 (now critical resistance). A small triangular pattern has been formed which could result in another correction to 2400-2350. However a bullish breakout could occur if done soon as upper pattern resistance crossing under 2600 will create 2 barriers (+ solid red line).

CheddarBizcuitz

2600 critical support finally gave in to trigger a small sellout with lows around 2500. The prevention of a close below this zone allowed a recovery to take place; note that critical resistance occurred at long-term low (solid red) which could be a sign of further correction to come (flip). Keep an eye on current H4 candle close which could determine momentum...

CheddarBizcuitz

Price holding in well so far; we did dip and close below the solid red line but 2600 critical support was maintained in a similar fashion to prior transitions (crossover of solid red above 2600, although the lower is typically a 'low' zone which was not the case in the instance). Not much else to say, I'm going off the same assumptions as yesterday's post. Hope...

CheddarBizcuitz

Price maintaining at long-term low (solid red) as we attempt to make a reversal; note that H4 closes held above this line which is the reason we haven't dipped further yet. A close below could send us to 2400-2350 -> 2200 -> possibly 2000-1800 range {3/04}. If we make a push, price could hover between solid blue and red lines for a week or so with dashed blue...

CheddarBizcuitz

Support at long-term trendline (solid purple) rejected leading to a bearish breakout on short-term ascending triangle pattern. Further supports assumed at dashed blue (failed) -> solid red -> 2400/2350; note that due to the high volatility these do not line up with intersection points stated on 3/03. Keep in mind that a break (close) below the long-term low...

CheddarBizcuitz

Price undergoing another correction as we hit the assumed support of this short-term ascending triangle pattern, this is just slightly past the expected volatility. There's a good chance we could see a bearish breakout occur if long-term trendline (solid purple) doesn't hold; note that since pattern support now falls above LT trendline I would consider this as a...

CheddarBizcuitz

$ETH still struggling to break 3k which could send us back to 2800 short-term; a volatile dip would likely find support at intersection of highlighted pattern & solid purple line. An extension of sideways action would funnel us along the solid blue line, providing a better chance of a bullish breakout. imo this test at 3k will determine the general direction we...

CheddarBizcuitz

Big push for $ETH to get us past neckline/H4 200EMA which resulted in high just above 3k. Bat pattern removed as I don't believe it's relevant anymore based on current PA. Expect 3k to remain as critical resistance w/ neckline (solid blue) as support; we could potentially funnel into an ascending triangle which would lengthen the current bottom. A dashed blue...

CheddarBizcuitz

Price rejected at long-term trendline (solid purple)/short-term EMAs which sent us down to long-term low (solid red) and prevented bottom-pattern correction. Current consolidation can be seen between pattern neckline (solid blue) and long-term low, where H4 200EMA crossover may determine if we actually make another push. Generated bat pattern has been re-added...

CheddarBizcuitz

Support holding in around long-term trendline/short-term EMAs; a possible good sign for the bottom-pattern but it does rule out a potential inverse head-and-shoulders. Still, we can indicate a neckline (solid blue) for this pattern which is roughly tangent off the second bottom. This leaves a rather close consolidation window where 'critical' support is at...

CheddarBizcuitz

Another very unexpected push (imo) to send us above long-term trendline and potentially back on course with the original bottom-pattern. H4 200EMA acting as current resistance as we transition past the intersection point of pattern + 2800/2850 + 200EMA {2/23}. Assumed supports are at long-term trendline (solid purple) and 2600/low (solid red).