CheddarBizcuitz

CheddarBizcuitz

Massive buy-in to send us past the lower neckline (3250); high volatility re-triggered divergence on daily MACD which is a good sign of reversal. The real goal will be to maintain closes above 3200 to prevent bearish piercing. If we didn't push past 3200 we may have managed a few days of consolidation (1/19 post). Prior bottom lasted roughly 5.5 days where we...

CheddarBizcuitz

Strong support at 3050 to help solidify a second bottom; another drop is still possible but a few positive signs may prevent a (bearish) breakout. D1 Chaikin back at zero line and MACD could hit a second divergence cycle if we can hold between 3200-3000 for the next few days. There's also a promising hammer reversal off the third red daily. Posted H4 chart shows...

CheddarBizcuitz

3200 broke to trigger sellout. New support setting in around 3100, roughly the average of the prior bottom. Further correction to highlighted zone very possible. Holding determines whether we drop further or double-bottom. Keep an eye on daily MACD transition as Chaikin has already crossed. I expect first stabilized support around 2850-2750 and a low around...

CheddarBizcuitz

Another rejection at 3400 sends $ETH below ascending triangle support. Price currently sustaining around 3250-3200. A break here could send us back to the highlighted zone or lower, with the chance of a daily convergence transition triggering a few more weeks in the red (11/15). Double-bottom play is still a possibility if we can sustain 3k. If not, I believe...

CheddarBizcuitz

Daily MACD back in divergence as we close out our first green candle since EOY. Support held in around 3300 with a low of ~3250, resembling more a sideways action occurrence versus a change in momentum. Cup-and-handle pattern broke to form a cup-and-handle off the cup-and-handle which is basically an ascending triangle fill out.

CheddarBizcuitz

Bullish momentum continues as we look to make another test at 3400 w/ a potential breakout to 200EMA; daily has a chance to close in the green for the first time in 2 weeks. A drop here would send us back to 3250-3200 but may also cause another down-step with the chance of breaking through the highlighted zone. Interesting to note that the average D1 convergence...

CheddarBizcuitz

Strong support at 3200 to set us up for a potential cup and handle pattern; first push would be to 3400 (neckline) with a breakout to 3600 (merging 200EMA). Daily MACD closing back in on divergence but we could still dip into a double-bottom (3050-3000) to extend the sellout phase. A bullish market sign would be a resistance-to-support flip off 3600 as...

CheddarBizcuitz

Resistance held in at 3400 to trigger another drop and prevent daily MACD from divergence. Expect support at either 3250-3200 (cup-and-handle) or 3050-3000 (double-bottom). Yesterday's buy-in close should have been at 3400 (not 3350), which would have indicated a hold and close above H4 neckline. Even though 3350 would have been a profitable play in my...

CheddarBizcuitz

Strong momentum so far as we push right past 3300 (H1 200EMA) and 3350 (H1 neckline) to create a new support zone. Daily MACD closing back in on divergence although we may see some drop off the H4. Expected resistance around 3400 (H4 neckline) with support at either 3050 (double-bottom) or 3200 (cup-and-handle). A push to 3600 would see support at 3400. Based...

CheddarBizcuitz

Yesterday's daily close above the highlighted zone (~3080) after a nice secondary push off H4 MACD. Opening on today's candle has held well above 3050 which is causing bullish momentum to return. Expect resistance to be around 3300-3400; 3350 neckline H1/200EMA and 3400 neckline H4. A push to D1 200EMA (3500) would be the next goal imo. I sold half my $ETH...

CheddarBizcuitz

$ETH back to 3k as we look to re-test this major S/R zone; rejection off H4 divergence indicates a stronger chance of another dip. Expect first support to be around 2750-2650 if we close (H4/D1) below the highlighted zone. Further momentum could send us as low as 2300 before showing any prominent signs of recovery. (1/08 post) Major resistance still holds...

CheddarBizcuitz

Nice recovery to keep us above the highlighted zone and cause a slight upturn in daily MACD. New resistance line added at 3350 (H1 neckline) if we see continued momentum from here. A push to D1 200EMA (3500) would be a good sign for reversal but I'm still not convinced that we're fully through with this correction.

CheddarBizcuitz

Another major support test underway as we approach 3k territory once again. Signs pointing towards another (bearish) breakout with a possible low of 2750; further momentum off the Chaikin (not shown) could send us to low 2k (~2300). Current resistance around 3300 with major at 3400 (neckline), followed by 3600 (long-term zone). My sell trigger remains as a dip...

CheddarBizcuitz

Hammer reversal rejected as $ETH drops to a low of ~3050; not a huge surprise to carry out third red on the daily. Seems we could still be within range for a possible recovery (see 1/06 post) as essentially we didn't break 3k. H4 MACD and Chaikin have potential momentum to cross zero with major resistance around 3400 (neckline) -> 3600. Highlighted zone...

CheddarBizcuitz

Potential bearish cycle underway as $ETH receives it's first candle close under 3600. Price formed a down-step pattern which increased sell momentum as long-term extreme low -> wedge -> 3600 support were broken (see 1/01 post for reference). Momentum was also increased due to the fact that wedge support crossed below long-term extreme low (see 1/04 post for...

CheddarBizcuitz

Consolidation holding at 3800 with a potential triangular breakout to 3900. Daily MACD did not close in divergence. I still expect a continuation of this condensed push (per 1/04 post) until we reach neckline; this was originally at 4k but we could see closer to 3900 based on resistance. Another correction would solidify a 3800 neckline but could pose some...

CheddarBizcuitz

Small sellout to wedge support with a hammer recovery to send us back above 3800; momentum triggering D1 MACD divergence as we look to close in the green. A double-bottom off the daily is still a possibility imo (neckline 4k) assuming we get a fairly condensed push within the next 2-3 days (3800-3900, 3900-200EMA, 200EMA-4k). Another dip below 3800 could pose an...

CheddarBizcuitz

Yesterday's H4 candle closed below neckline, triggering some bearish momentum through a double top formation and drawing MACD closer towards convergence. Expected major support around 3650 (long-term extreme low), although another dip and hold at 3600 may set us up for a double-bottom off the daily. Resistance still holds at 3800, 3900 and 4000-4050 with 200EMA...