chwi03

chwi03

I'll leave most of the analysis to others, but here are a few highlights that I see: We are in an ascending wedge, which has the potential to break bearishly. The extreme apex of the wedge is appx 9600. If we fall from the ascending wedge, we'd hopefully use the ATH log line as resistance. If not, there is still major support in the 8000-8500 area. Falling below...

chwi03

Let's see if we can bust through this resistance line. Tried once before and bounced down from it.

chwi03 Updated 

BTC is, at the moment, trying to find a bottom. As I type, it is stalled at about 7,700 on GDAX and the volume really jumped in the last 30 minutes. 24 hour volume is now over 55k, vs about 30k yesterday and 10k a couple days earlier. I don't know what volume will be when we reverse, but our high volume previously (from memory) was around 80k-90k. We just fell...

chwi03 Updated 

Trying to show things that aren't already on everyone else's charts... this downward channel also corresponds to the December 17th peak, which I think gives is more significance than otherwise. Four solid touch points. I personally have a hard time believing we will drop below the 9,000 level from Wednesday (if we drop that far); however, as long as we continue...

chwi03

Is an ascending triangle at the bottom of a pole a bearish continuation symbol? Or does an ascending triangle usually break "up" regardless of location on the chart? I saw this on the 6 hr, but drew it on the 1 hr chart. I'm learning a lot, but haven't seen this much yet. I know there are many other factors at play; just wondering about this in particular.

chwi03

I noticed it on the 6 hr chart, drew it on the 1 hr. Is an ascending triangle at the bottom of a pole a bearish continuation symbol? And is this what this resembles? I've learned a lot, but haven't seen this much yet.

chwi03 Updated 

Low volume bounce, not even enough momentum to turn around the MACD direction. ETH already starting to rise again. Will this hold?

chwi03

No comment on its next price action, but here are your support lines if it decides to retrace.

chwi03

No comment on its next action, but here are your support lines if it decides to retrace.

chwi03 Updated 

On the 1 hour chart, there is increasing bearish divergence since yesterday. I'm not making any predictions based on this - simply wanted to let people know of this indication. Ethereum certainly has room to climb, but based on the major gains of the last few days, it also certainly has room to retrace in the short term before making the next push.

chwi03

I've drawn the two-week channel with blue lines. Currently this channel has a high end of approximately 2600 and a low of 2188, with BCH currently in the middle of this channel. In the last two days, we have seen it change from a gradual falling wedge to sideways trading between 2300 and 2440. This morning it climbed up to 2500, but reversed at the green line...

chwi03 Updated 

I drew the dominant channel from June-present, and also the dominant channel from November-present. I see that we are currently trading between these two channels. You will see it better in the close-up view, but I was surprised to see the trading from Dec 21-28 followed the November channel quite nicely, even though we have now fallen below that channel. I also...

chwi03

Shown is what I see as a dominant short-term trading channel. We fell through the closest major support line at 13,500 and fell back to the bottom of the channel at 12,900. There are several bearish signs and it is very likely to continue lower. What I'm pointing out is that there are many "touch-points" to this channel, and each time we break this channel...

chwi03

I'm new at this (2 months), but have studied quite a bit to learn the very basics. A relative used to be a day trader and has given me hours of feedback on channel charting with support lines. I haven't made a foray into Fibonacci, Elliot Wave, or advanced charting yet. I made a dozen charts today, but this simple (temporary) downward channel really sticks out to...