CheddarBizcuitz

CheddarBizcuitz

A solid push flips short-term EMAs with a successful break at 3405 critical. Resistance remains around 200EMA so look to hold above 3405 until 50EMA alignment. Continuation to the W1 neckline (red) is assumed at this point. This will likely be our best chance in breaking pattern. www.tradingview.com

CheddarBizcuitz

Price remains around short-term EMAs aligning consolidation with a possible ascending pattern. Remember that the entry direction for this pattern is bearish which could result in a breakdown. Short-term to long-term EMA divergence should be the main goal for continuing recovery. www.tradingview.com

CheddarBizcuitz

ETH unable to pull through as price drops below short-term EMAs following 200EMA rejection. Ascending consolidation may be forming with W1 neckline (3520-3580) acting as resistance. Note that the entry direction for this pattern presents chance of a bearish outcome. A double-bottom off prior wedge resistance is also a possibility if correction...

CheddarBizcuitz

A solid push to neckline upper limit lengthens correction and aligns us with pattern recovery. 200EMA remains as the next critical resistance with 3685 as the assumed goal/neckline. Another correction is expected if this scenario proves successful however keep an eye of subsequent closes to determine if continuation is possible. www.tradingview.com

CheddarBizcuitz

Price drops to prior wedge resistance but recovers through another inverse head-and-shoulders. Current position is back at the W1 neckline (red zone) with H1 200EMA as the next hurdle. A larger-scaled inverse head-and-shoulders has been marked with prior W1 piercing as neckline. Given this layout we can assume a bit more consolidation before the next...

CheddarBizcuitz

Price failed to hold within the W1 neckline (3520-3580) as we keep below H1 20EMA. Resistance is now at 3210 critical with the goal of forming another inverse head-and-shoulders. The previous wedge pattern flip zone has been extended as a possible low for this scenario. www.tradingview.com

CheddarBizcuitz

ETH drops below 3500 once again preventing recovery to the D1 piercing goal. Closes have held within the W1 neckline (3520-3580) which provides some bullish indication. A double-bottom may be possible but keep on the side of caution. www.tradingview.com

CheddarBizcuitz

ETH briefly drops below 3500 reaching lows just shy of 3400. Formation of an inverse head-and-shoulders provided recovery to 50EMA but failed to close out daily/weekly properly. Additional correction can be assumed at this time with the new D1 goal at ~3580. www.tradingview.com

CheddarBizcuitz

Price drops below 3685 (W1 piercing) but closes remain within the red zone (W1 neckline). Ending weekly above 3685 is still the main objective but note the nearing position of 50EMA. A close above 3615 (3632) may also present some recovery hope as the D1 piercing. www.tradingview.com

CheddarBizcuitz

Price gets rejected at 3900 in an attempt to flip 200EMA. Correction holds around 3685 (W1 piercing) with lows hitting the red zone (W1 neckline). The goal now is to maintain above 3685 until weekly close in hopes of pushing back to 3810. www.tradingview.com

CheddarBizcuitz

ETH dropped a bit further than expected, taking us briefly below 200EMA before recovering. The stepping pattern has been adjusted and now indicates a weekly close closer to 4k. Continuation of pattern assumes eventual correction of this bullish advance. To hold momentum we should maintain 4k support in hopes of triggering a breakout. www.tradingview.com

CheddarBizcuitz

Consolidation closes in on 4k after another rejection at ~4050. A stepping pattern has been outlined which assumes an eventual push to 4150. However W1 close is expected closer to 4000-4050. Closing within this range should be the focus but continued recovery seems low. www.tradingview.com

CheddarBizcuitz

Price back above 4k after recovering from a drop to 200EMA. A slight double-bottom has now formed and may be the needed push for continuation. As a reminder there are roughly 5 days remaining on this weekly candle. Look to keep above 3685 critical to avoid further correction. www.tradingview.com

CheddarBizcuitz

A huge breakthrough for ETH as we reach 4k+ for this first time in over 2 years! The next critical resistances have been marked at 4150 and 4300 but non-criticals will be established along the way due to limited PA. Critical supports (long-term) have been left in at 3685 (W1 bearish piercing) and 3520-3580 (W1 neckline) in the case of correction. As a...

CheddarBizcuitz

A nice close on yesterday's D1 to allow for some additional consolidation in the 3900s. However a sudden dip ended weekly below zone likely indicating upcoming correction. The goal line has been adjusted to 3685 which should be the lowest support point for bullish continuation. www.tradingview.com

CheddarBizcuitz

Price struggles to keep above 3900 dropping us back within the correction support zone. Fortunately PA held in for 50EMA alignment though unfortunately strengthening resistance. Avoid closing D1 near the dashed red line which could trigger a shooting star and early reversal. Our main focus should be a weekly close at 3900+, keeping in mind that price has been...

CheddarBizcuitz

A solid push brings ETH to 4k but subsequent PA results in another double-top formation. Although price was able to keep above 3900 D1 failed to close within zone implying a higher chance of further correction. Using a similar $60 window as 3750-3810 and 3520-3580, expected support has been indicated via the upper green highlight (3840-3900). Note that...

CheddarBizcuitz

ETH drops below 3810 off double-top continuation but is supported at 50EMA to prevent further correction. The resulting recovery was surprisingly strong bringing us briefly into the 3900s before dropping back between the two critical pricelines. At this point a push to 4k seems probable but I'd remain cautious until we establish a few closes above...