CheddarBizcuitz

CheddarBizcuitz

Very strong push to send us all the way back to long-term trendline (solid purple). Although we may not re-align the preferred bottom pattern {2/23} I'm much more comfortable about our placement within the XABCD as it gives us room for further correction. In this scenario, I would expect critical support around lower trendline (solid red) with the eventually...

CheddarBizcuitz

Another volatile correction for the crypto market as Russia invades Ukraine. Signs seemed to be pointing towards a dip imo and the recent news may have been the trigger. On a positive note critical support held in around 2370 with a 2300 low which still keeps us within the bat pattern. If price can maintain above this zone into early March then we may be in for a...

CheddarBizcuitz

Consolidation holding around long-term trendline (solid purple). The following are a few scenarios that could occur (best to worst): 1. Price re-flips long-term trendline and follows 'bottom' route. Key indication could be around 2800-2900 where 200EMA (H4) looks to intersect pattern. A break at 200EMA could be the needed push to get past 3k critical resistance....

CheddarBizcuitz

Not quite the expected push as price gets rejected again at long-term trendline. Support at 2500 held in well but there's a good chance we could deter from the 'bottom' prediction, or general ascending triangle recovery, altogether. If we break back below 2600 then it's possible that we move towards the generated bat pattern which assumes recovery around 2300....

CheddarBizcuitz

Nice push to send us back above long-term trendline in an attempt to finally reverse this correction. Critical support held in as previously expected {2/13} with closes maintaining above 2600; imo this is due to the fact that long-term trendline transitioned above 2600 support which gave it an extra 'cushion'. Overall it seems that we're still on cue to carry...

CheddarBizcuitz

Price broke long-term trendline to send us down to 2600 critical support. Generated bat pattern re-added for a potential outline on where we may be heading before reversal occurs. Bottom-pattern shown is still a viable scenario imo as long as we maintain current consolidation.

CheddarBizcuitz

Clarifying this post a bit by removing a lot of the past indicators; using the manual XABCD pattern unless we break long-term trendline, generated will be re-added if so. A reversal at point D would align us back with the original bottom prediction and potentially create a steady growth sequence as indicated. Daily MACD is within convergence phase atm, a D1...

CheddarBizcuitz

Sellout continues as $ETH looks to now test 2750 resistance. Two XABCD patterns have been added. The green displays a trend off the H1 low through the use of an automated indicator. The extension of D sets us around 2300 with an SL around 2k. The blue shows a manual trend off the H1 low at long-term trendline; point D therefore situates around this zone as...

CheddarBizcuitz

Another rejection at 3200 caused enough momentum to push $ETH below 3k critical support; look for a possible dip down to long-term trendline (solid purple), new patterns may need to be indicated. Current support is expected around 2800-2850. Watch out for daily convergence. Although a bearish piercing was prevented off yesterday's D1 close, the candle ended up...

CheddarBizcuitz

H4 cup-and-handle rejected at 3200; pattern formation still looks possible on D1 if we can maintain above 3k to prevent convergence. Imo I would use ~3060 as today's close value indicator to determine if a bearish piercing will occur. If so, expect a volatile dip that could send us back down towards long-term trendline (solid purple).

CheddarBizcuitz

Big breakout at 3k to continue current handle pattern; look for next critical resistance at 3200-3250 neckline. Possible influence of this trigger may have been due to the Super Bowl so be aware if a quick rejection occurs. Expect 3k to act as critical support now.

CheddarBizcuitz

Critical support continues to maintain at ~2850, possibly generating enough sideways action to deter us from the lower-bottom pattern (low volatility). Current price action could go either way although I still believe the upper-bottom is a better/more logical scenario for future growth; see yesterday's post for additional info. Note that the outlined handle...

CheddarBizcuitz

Price held in to generate sideways action and push us closer to the upper bottom; see yesterday's post for some key indicators and further speculation. A dotted pattern ('handle') has been added to illustrate a possible recovery, where bullish price action would occur prior to end of the current H4 ascending triangle. My take on the three scenarios: 1. Upper...

CheddarBizcuitz

H4 closed under 3k yesterday to cause a bearish breakout and potentially a second correction cycle. Unfortunately we we're unable to make it past the prior pattern transition point {2/10} which sends us back to the original prediction. Bottoms have been adjusted based off a 3250 neckline high (vs 3200). The upper pattern support is at long-term trendline (solid...

CheddarBizcuitz Updated 

Positive signs so far as we continue to hold above 3k and begin progressing beyond the former pattern. A new test zone has been added off 3100-3150 resistance and pattern support to further determine upcoming price action. Another dip to 3k is very possible but a recovery could also set us up for a hammer reversal on current H4. An easier indicator could be...

CheddarBizcuitz

Price maintaining around 3200 as we attempt another breakout at current neckline (3200-3250). Predictions remain the same as prior posts, where consolidation between 3250-3000 beyond the previous pattern (2/11) could result in a bullish breakout as new pattern support would progress above 3k. Any close below 3k would likely cause additional sell-out; this may...

CheddarBizcuitz

$ETH continues to hold above 3k as we make another attempt in breaking 3200-3250 resistance; this pattern has now been highlighted with support acting similar to the prior. Another correction is still very possible, however (imo) maintaining the current consolidation zone until we pass 3k pattern could finalize a bullish breakout. This is based off the assumption...

CheddarBizcuitz

Price rejected around 3200 to possibly solidify a neckline high within another potential recovery pattern. Outlined are two general paths we could take if another correction takes place. The first has support holding at long-term trendline (solid purple), while the second is off a previous bottom zone. The arrows further indicate these areas, where a close below...