ETH Looking to break downtrend again!

26 feb 2018

Updated previous chart.
Crucial time for ETH now.
Looks like it will break outside the downtrend.
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LONG!

Resistance: 715~720
Support: 740~ (Stop Loss)
Entry: Now (or 720+ for confirmation)


Good Luck

26 feb 2018

Nota

”A break outside the channel could indicate a extended correctional wave” this is especially true if 640 is penetrated which has acted as a very strong support in the upswing from the bottom, however a consolidation above 715-720 puts us in a very bullish situation, even if we don’t see a immediate run upward though it can be expected.

26 feb 2018

Nota

Typo, support 640 :)

26 feb 2018

Nota

We got rejected and have entered inside the downtrend channel again.
Let's see where this goes.

26 feb 2018

Nota

26 feb 2018

Nota

Also, keep this in mind. I hope it does not materialize.

26 feb 2018

Nota

26 feb 2018

Nota

27 feb 2018

Nota

We broke out, next stop 715-720

27 feb 2018

Nota

725 hit :) reversal looking more real !

27 feb 2018

Nota

Small prediction;

Topping out before next major resistance 730, good time to scalp some more, i see 719-720 next candle low, next bullish candle after that should keep applying pressure to 730.

27 feb 2018

Nota

Looks like whale support appeared at 724 with 200 ETH buy wall, we are also forming another bullish flag. Second breakout should happen soon.

27 feb 2018

Nota

Touched 719 as i mentioned, next candle is key to keep momentum, should start grinding towards 730 soon :)

27 feb 2018

Nota

In the case of a break below 700 i will reconsider my position , lower than 695 will take us out from this channel.

27 feb 2018

Nota

Red dotted line (previous resistance) is acting as support for now, good sign.
New analysis tonight.

27 feb 2018

Nota

Bearish candle pushed us down to 709 area where the rally to 727 originated from, i would be a bit sceptical if we made a push down to 700... but im staying long until we break this channel.