CheddarBizcuitz

CheddarBizcuitz

$ETH looking to solidify a breakout from this wedge and not in the direction most of us were hoping for. H4 candle closed in the highlighted zone but I'm holding out until we dip below; support's maintaining so far and I'd prefer not to include the P/L in my taxes this year. Weekly candle (third red) still has 4 days until close which leaves the possibility of a...

CheddarBizcuitz

Slight adjustment to the wedge 'support' line as we seem to be meeting some resistance here; a hammer close could be what we need to break back into trend. Overall some good signs as support maintains at the lower trend and bulls prevent any closes in the highlighted zone (H1+). Next resistance at 3900 with 4k as major imo. I'd likely sell some $ETH if we close...

CheddarBizcuitz

Another massive selloff to break double-bottom trend and send $ETH below 3900. Further correction could push us into the highlighted zone (potential sell trigger). Current candle holding above wedge support with a low of roughly 3750; a good indicator for reversal if we can close in the green. IMO the next 4k test (if it occurs) will be the real determining...

CheddarBizcuitz

$ETH still battling 4050 range (see H1 chart); double-bottom still possible imo if we make a push here. Next resistance seems to be around 4200 which intersects the lower trend average (dashed purple). A break below 3900 could trigger a bearish cycle due to recent tests.

CheddarBizcuitz

Nice recovery to push us back above 4050; double-bottom looks like a possibility as we close in on H4 divergence. Low was just short of wedge support so I never sold, although that's not to say we're in the clear. Potential reversal could occur if current H4 candle closes as shooting star. Weekly MACD still in the red which could set us up for a third bearish...

CheddarBizcuitz

Further correction underway as $ETH gets rejected at the lower trend average. My hope is that we can double-bottom off 3900 support but with the recent push it makes me a bit hesitant. First sell signal would be 3900, followed by 3800 (wedge support) then 3700 (lower trend); if we break wedge trend I'll likely sell some of my portfolio. The blue line is where...

CheddarBizcuitz

$ETH rejected at 4450 forcing a double-top breakout. Price held in at lower trend average; we could see something similar to the 12/06 correction. Further dip would likely re-trigger weekly MACD crossover which could create some bearish momentum. A hold here seems imperative.

CheddarBizcuitz

Looks like we could break 4450 resistance wall soon; price has maintained above 200EMA for a few days now. Next expected support/resistance highlighted with extremes at the upper and lower dashed trendlines. The line going through the broadening wedge is current average (imo). *** Altcoins *** - This section is being removed for the meantime but I'm willing to...

CheddarBizcuitz

Big breakout for $ETH to push us back above H4 200EMA (~4300); expect this zone to act as first layer support with 4200 as the new main. Current resistance around 4450 but I predict we'll see major somewhere within the highlighted area. For now I plan to hold most my funds in the case this is just a final pump before massive selloff. If we can flip long-term...

CheddarBizcuitz

Slight dip below the lower trend average but we're back within breakout territory with the hope of a double-bottom-ish recovery. Recent selloff did trigger the start of weekly crossover so be prepared for a quick turnaround if we can't close in the green. My indicators are as follows: When/if to buy: If price hits H4 200EMA (~4300), or flips and maintains 4200...

CheddarBizcuitz

Nice recovery to assist in solidifying support at the lower trend average (~4100); a hold above this line could trigger breakout at current resistance (~4200). Daily/H4 charts indicating a broadening wedge that could be interpreted as a broadening bottom based on entry direction. Another potential bullish signal. H4 MACD also closing in on a divergence phase...

CheddarBizcuitz

Massive selloff as we approach EOY; be prepared for additional correction. Current resistance at lower trend average (~4050) with expected support at lower trend (~3600). My plan is to take profit if $ETH crosses weekly MACD; I may even liquidate up to 80% depending on sell pressure. The majority of crypto's gains this year were due to covid and corresponding...

CheddarBizcuitz

Further correction underway as $ETH breaks below trendline. Current support holding around 4350, low of ~4300. In the midst of typing this post, H4 Chaikin began crossing over zero line; expect a dip to as low of 4200 if momentum continues. I could see a quick reversal accomplished through a hammer close on the current H4 candle (~4450), although since we...

CheddarBizcuitz

More selloff to drop us back under the long-term average; current consolidation hovering between 4450 (support) and 4600 (resistance). Highlighted zone indicates where the price should remain if we're looking to attempt a breakout short-term; any action under this level could trigger further correction imo. Keep an eye on H4 Chaikin as well. Continued momentum...

CheddarBizcuitz

Big jumpstart into the new month as $ETH attempts to push towards 5k. Current consolidation just above long-term trend average. The indicated blue lines represent the old, short-term lower trend and the (potential) short-term upper trend. I call this a potential trend as I expect us to eventually flip this into support, thus creating a new short-term trend where...

CheddarBizcuitz

All eyes on $ETH as it continues to outperform $BTC. Price action currently sitting around long-term average which was close to the original EOM prediction; still makes me wonder if the covid scare was a timed announcement. Regardless, this seems to put us in a good position going into the EOY with a chance to break 5k for the first time. It's also worth noting...

CheddarBizcuitz

Big rebound for the crypto market; bulls proved me wrong on this one. I expected a bit more hesitation from the new Covid variant but perhaps the announcement was just FUD. I'd like to breakdown yesterday's post to show how one could have interpreted my misinterpretation correctly: 1. A double-bottom pattern was illustrated with a 4350 breakout zone. Noting this...

CheddarBizcuitz

Not much movement in the past 24 hours; slight descending triangle forming which could be another indicator of bearish momentum. I plan to hold off in the meantime and see how things play out. Better to lose out than lose. *** Still waiting to place buy orders on yesterday's entries; only adjustment is to $ALGO (1.60 -> 1.45). I'm also looking into $POLK entry...