Just updating my Cup & Handle idea with some extra things I've noticed.
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Looks like it's bouncing off the bottom of that channel, with a bullish divergence - likely will start heading towards the top of the channel
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Everything about this idea has been invalidated from the crash last night lol (I think a lot of it had to do with Poloniex)
It now looks like an Ascending Channel:
In the short term, it's trying to reverse, potential inverse H&S here:
the target would basically bring it back up to the trendline that was formed from the previous highs of the past week or so.
But there is a lot of resistance and if it doesn't break through I think we could see some more downside over the next few days
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I guess it's possible that the crash was an overreaction to poloniex issues, so I guess this idea may still play out even though the pattern has been broken - however I'm not betting on it until we see some solid signs. A big BTC retracement (of at least a couple hundred dollars) may be a trigger so watch for that. Otherwise, this is my latest idea:
I want to believe but none of these channels/pennants have been holding up...Crypto is gonna Crypto
tomstoj
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@darknight1818, I never look at ETH/BTC but when you look at ETH/USD you can see it just retraced to 0.6 fibonacci and it will head north to 130 $ in around 2-3 weeks. ETH was only one crypto not pumped during last month and it behaved 100% along with technical analysis expectation
Oops_I_Charted
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@tomstoj, Yeah I agree with you, the end of the month seems to be when something big will happen one way or the other, a lot of trendlines converge there. Will post a new chart with some ideas later
onefry
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great chart, it could definitely pull this way, eth has the tech and big business/bank backings
ethmaximalist
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@Oops_I_Charted do you think we'll see 0.064's as early as May 10th?
Oops_I_Charted
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@ethmaximalist, if it bounces around in that channel it's definitely possible - it just happens to reach that price on the 10th on my drawing, but that's not exactly scientific :)
ethmaximalist
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@Oops_I_Charted, Last Monday was also like this one. However I have a feeling this will not go up unless the Ripple / Stellar kind of pump & dump action stops in the upcoming days.
These organized pump and dump schemes are only good to increase the price of Bitcoin while keeping the price of Ethereum stagnant.
EEA2 is around two weeks away and let's see how it's gonna turn out :)