dalmazio

dalmazio Updated 

It appears a rather tall triangle pattern has formed, boding further short-term bearish sentiment for Ethereum. The downward breakout of this pattern could take us all the way down near the $265 level. Breakout appears to be commencing. However, we are also in the C leg of a corrective ABC Elliot Wave. Likely targets for the C wave include 1.0 x Wave A ($297) and...

dalmazio

It appears we have finished the fifth Elliot Wave of a larger degree first wave (the genesis wave). But we encounter a small problem attempting to extrapolate the Elliot ABC correction wave for this larger wave (I). Elliot Wave Theory suggests ABC corrections should be near the end of their 4th wave. But the wave (IV) price is $1835! It’s too unbelievable that...

dalmazio

It looks like we are in the B-C leg of an ABC Elliot Wave correction. The A-B leg was the bull trap, and now it looks like we are resuming the doward trend to retest the $321 A leg correction low. If we break this (likely), it seems further movement down to the $267-$296 range is possible. Some numbers: - Wave B is close to 0.618 of Wave A as required - Fib....

dalmazio

It appears we have completed 2 Elliot Wave levels: wave v of a larger degree wave 5, and the larger degree wave 5. Elliot Wave Theory forecasts that our current subdegree wave v should end around $94 (1.618 extension of wave i) which was right on the money. And the larger degree wave 5 should end also around $94 (1.618 extension of wave 1). Also right on the...

dalmazio Updated 

Downward trending channel for 1h candlesticks with multiple support touch points suggests downward price action at least until end of August when Monaco is supposed to release their iOS app. If they deliver, we could expect a temporary price bump. If they don't deliver, we could expect a steeper sell-off into the 0.0008 BTC level, in line with prices of their main...

dalmazio

Rectangle continuation pattern on 1h candlesticks. After bouncing between rectangle support and resistance, uptrending price prior to rectangle suggests upward continuation to possible resistance around $4334. If breakout occurs at this level, likely to test ATH near $4500.

dalmazio

Multiple touch points for both support and resistance levels in downward trending channel.

dalmazio

Double top confirmation on 2h candlesticks suggests downside to 270 support.