Crypto is hard to predict but seems ETH behaved like this pretty consistently since Dec 29th.
12H candles, TD count
0. While the TD indicators didn't offer anything useful before Dec 29th, i must note that about 75% of the corrections since Dec 12th tested to 20MA.
1. Green 1 (Dec 29th) gave a Green 9 (Jan 2nd) for a 2 candles correction to the 20MA
2. Green 1 (Jan 2nd) stopped at a Green 7 (Jan 5th)
3. Jan 5th-Jan 6th were 3 red numbers right on the 20MA
4. Green 1 (Jan 7th) gave a Green 9 (Jan 11th) for a red count and we're on a Red 2.
Assuming it still follows this pattern, I would expect a correction to the 20MA again (center of the Bollinger Band) somewhere around 0.735-0.75 BTC, since we are at the top of the Bollinger Band,b efore an ATH,
Maybe it will break the pattern.
BKM1978
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@NeverStar, Ok, let me look at that and try to digest it. Thanks for your feedback/input!
salmonax
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@NeverStar, This is such a delicious chart on the 4h right now. I wouldn't play it bear unless I was scalping it. You could sell on a stop loss at sma40 at that depth if you were that bearish and close well above 0.735, and I've already bet my money that a stop-loss on the sma50 will never trigger and I'll probably be trailing it. I might be wrong, but when ETH gains confidence it makes very clean advances.
12H candles, TD count
0. While the TD indicators didn't offer anything useful before Dec 29th, i must note that about 75% of the corrections since Dec 12th tested to 20MA.
1. Green 1 (Dec 29th) gave a Green 9 (Jan 2nd) for a 2 candles correction to the 20MA
2. Green 1 (Jan 2nd) stopped at a Green 7 (Jan 5th)
3. Jan 5th-Jan 6th were 3 red numbers right on the 20MA
4. Green 1 (Jan 7th) gave a Green 9 (Jan 11th) for a red count and we're on a Red 2.
Assuming it still follows this pattern, I would expect a correction to the 20MA again (center of the Bollinger Band) somewhere around 0.735-0.75 BTC, since we are at the top of the Bollinger Band,b efore an ATH,
Maybe it will break the pattern.