Blue: Resistance from Jan 29 onward.
Green: Major resistance formed by neckline, which has already been rejected recently.
Pink: EMA55: Dancing on a fine line with the EMA, and struggling to get above it.
Orange: EMA200 - Also, fighting to get above it.
Red: Most relevant support to watch. Quickly coming to the apex of the wedge formed by all support/resistance lines.
Light blue: Major support formed by inverse H&S already broken.
Yellow: Volume is in the gutter and down trending.
I don't see any saving grace for Ethereum right now. We are still in a bear trend, and the bulls do not have the volume to push out of this apex with massive upside resistance.
See previous analysis for where I think we are headed. We did break out of the rising wedge downward as predicted.
Green: Major resistance formed by neckline, which has already been rejected recently.
Pink: EMA55: Dancing on a fine line with the EMA, and struggling to get above it.
Orange: EMA200 - Also, fighting to get above it.
Red: Most relevant support to watch. Quickly coming to the apex of the wedge formed by all support/resistance lines.
Light blue: Major support formed by inverse H&S already broken.
Yellow: Volume is in the gutter and down trending.
I don't see any saving grace for Ethereum right now. We are still in a bear trend, and the bulls do not have the volume to push out of this apex with massive upside resistance.
See previous analysis for where I think we are headed. We did break out of the rising wedge downward as predicted.
Ordine annullato:
Broke above the all resistance, and volume has picked up substantially (but is still quite low).
To the people yelling bad call: you're right. I'm not afraid to admit I was wrong on this one, and I hope you had stop losses set if you we're relying on this call. Recognizing bad calls is important, but I'd rather make a bad call then the vague calls I often see: "We might go up, we might go down, we might go sideways. We'll know once it happens".
To the people yelling bad call: you're right. I'm not afraid to admit I was wrong on this one, and I hope you had stop losses set if you we're relying on this call. Recognizing bad calls is important, but I'd rather make a bad call then the vague calls I often see: "We might go up, we might go down, we might go sideways. We'll know once it happens".
