Long
ETH Inverted H&S
After the high of 829 on May 7th ETH has been on a down trend. Dropped all the way to the support level of $402 and rebounded to $480 numerous times before the bears put is in the current situation. We have a valid inverted H&S pattern holding. If we break $410 then the pattern is invalid. If not the next major support is $380. A bounce should put us past $450 to $480 and beyond. 4H chart is starting to show signs of reversal. To buy now or wait for further confirmation or at $420 to $400 if we hold current levels? If not we have a golden op to buy in under $400. As I am writing this we are slowly increasing from today's low.
Uwaga
ETH is gaining momentum and still inside the Inverted H&S targer. Currently testing targer level of $450. If we push past this resistance then $480 is in site. I would expect a slight retrace otherwise.Uwaga
WE hit the $500 mark.Uwaga
Could not hold past the $510 mark and started the decline. %20 profit. We broke the down trend line and approaching retest. 4H chart is showing a head and shoulder formation and need to hold current level of 455-470.ETHBTC is on a very strong down trend. Interesting to see if that means a bounce back to 500 or a drop to 400?
4H, I can't figure out how to attach the actual snapshot in comments.
Uwaga
1H chart showing a rounding top formation wich could lead to a breakdown low to $440 again.Uwaga
1D ETHBTC, Very low volume.Uwaga
ETH has been holding critical support at $440 range.We have bounced of the up trend line with resistance at $460.12H RSI crossed above 50. Target $480Uwaga
THis played out rather nicely. We finally broke the downtrend and started a new channel. This is the second break out of a descending channel and we are hitting resistance of the previous red down trend and bouncing off of the Up trend line. RSI is rising.1D
Uwaga
4H look. We should be able to reach $500 soon. Showing we want to move up. Right at the trend line.Uwaga
1H lookiing to drop. I think we will test $460 again soon.
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