cheretic

cheretic Updated 

I am looking at the weekly Poloniex chart in log scale as it goes all the way back to ETH trading for Cents. You can see there was a full 5 wave cycle and we are now correcting down towards the .78 fib line, long term trend line and possibly even the low of wave iv before this correction is completed. I hope you took some profits as its been nasty. There is...

cheretic

Bitcoin formed a large head and shoulders and it has come down to satisfy the neckline target. Increased volume shows that the buyers are returning and I feel confident that we will see a lower high and a break out of the downwards channel in the coming weeks. After a failed breakout of the Downwards red channel (wave 1) I am looking for a lower high to be...

cheretic Updated 

Can OMG push higher if ETH corrects? I guess we'll have to wait and see

cheretic Updated 

Another important crossroads coming for ETH. price reached a good downside flag target and and 60% retracement to complete an ABC correction. If the green head and shoulders works out then we have a good chance to break the red downwards channel and our impulse wave will be confirmed. I will also be watching for some above average breakout volume. However, the...

cheretic Updated 

So my upside patterns from yesterday seem to have been defeated by overhead resistance at $850. Today we have formed a bullish pennant consolidation which should show its real hand soon. A break above should yield a target along the flagpole breaking the $850 resistance and making a great higher high A break to the downside can be expected go as far at the...

cheretic Updated 

Well I see a bull flag, an inverted head and shoulders and an cup and handle on the 2 hr chart. :)

cheretic Updated 

Taking a look at the long term weekly chart we can see that there is a pretty clear 5 wave count with .618 retraces for corrective waves 2 & 4. The theory would now be to expect an ABC correction to the .61 or .7 fib retracements. The .78 aligns with the 70 week ema at around $300, so that could be a strong target. I'm not really sure if there is a way to...

cheretic Updated 

There is nothing yet to suggest anything other than more downside movement. We are in the C of a large ABC correction. Flag target to the downside not yet met. Very large head and shoulders is now in play. Green Major trendline along with 140 ema is ETH's only hope for salvation at this time. I hope you guys locked in some profits? You have an olive branch...

cheretic Updated 

Well my initial theory was void today as we have a higher high above $1170. We do now have a upper trend line for a rising wedge which is a bearish pattern and possibly the B to our ABC. I think the target for C will be somewhere between the .5 and .618 of the overall weekly 5 wave from around 40 cents (see a log chart) and will form the weekly wave 2 of a...

cheretic Updated 

I don't like it and I don't want to believe it, but it's there and in this market, anything can happen. The most recent price action forms a bear pennant that is also a rising wedge, double bearish. If this breaks to the downside the target breaks the first MAJOR long term trendline, shown in yellow dots, for the first time ever. It also breaks the neckline of...

cheretic Updated 

We all know that BTC has been backbone of the crypto markets and so far all alts have followed to some degree the fate of the BTC. I see a healthy long term correction and large bull flag formed (a descending wedge on a linear chart). We are also approaching a long term major trendline and some important fib levels. If BTC finds support and breaks upwards out...

cheretic Updated 

I see that we are now in impulse wave 2 of corrective wave C with a target $550-$510. A higher high (above $1170) is required to void this theory. You are responsible for your decisions in this volatile market.

cheretic

Looking at the log chart for ETH we could well be in the corrective wave 4 for Ethereum. A and B are in and have set up a large bear flag pattern as noted by @MagicPoopCannon in his analysis. This could open the door for a visit to the .7 fib retracement before what could be a very exponential wave 5. Happy Hodling! :)

cheretic

The thing I like the most about Crypto charting is how quickly your TA theory's on the charts play out. ETH had reached its 4.618 fib extension, much to my amazement in such a short time. I thought, 'well the theory is that it should pull back now, markets don't go up in a straight line forever'. I sold some ETH at $1340. And put a buy back around the .50 fib...

cheretic

I've been feeling pretty good about OMG but there is also the possiblity that if the lower uptrend line is broken then we could go down to the bottom of the descending channel. A large correction in BTC could be catalyst for such a move. The recent bearish move has just had a .618 retracement and we could go up or down just as easily from here. I suspect...

cheretic

See for yourself. Where do the think the smart money is going next? Bitcoin = Anti-establishment, Diminishing utility. Etherium = Invested into by the establisment (see ETH foundation), Growing utility.

cheretic

Gonna be feeling the pain once they realise they bought the top and sold the bottom :'( BTC sellers who are buying the OMG on the other hand. I'm very jealous.

cheretic

Price Action (Lower highs and lower lows), + Neckline Target of the large Head and Shoulders, + Trendlines, Channel, + Text book AB=CD Pattern, + Colluding Neckline Target of the Smaller Developing Head and Shoulders. All point to this scenario. Also all the technicals point to ETHUSD moving up at the same time to finish Wave 5 and 3 respectivly. (See my ETH...