Long

Updated

ETH bounce from hear, resistence, and falling wedge

a death cross in eth end up playing a good fall.

I think we are in various supports, and in a possible big descending triangle,

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we got stop by the 50 MA and previous resistences, next hour will take in account if we reverse and loop for the bottom of the falling wedge again.

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posible rising wedge

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close the rising curve , either we keep going up and we made wave 5 or we drop to the bottom of the falling wedge.

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following the 5th wave

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tradingview.com/chart/tZkmFovp/ either we broke the uprend channek and we are going to drop further, or we where sill in the 4th wave doing a abc and we need to hold the support of the flag, if we break 170 we will be in a down trend,

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bounce worked let see if we can cross the previous support not resitence, if we get rejhected i dont think the resistence where we bounce will hold.

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we got rejected but resitence hold, how we went up and at the top of what could be a bull flag,

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in a bigger picture we are still inside a huge bear flag

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btc is in a falling wegde at this time

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the channel resited , know we are testing the bottom of the bigger channel.

between botht the have done a triangle that will need to be resolved soon

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so we broke the channel down but the other channel the bull flag still intanct we bounce from the bottom and testing to reenter the bigger chaneel it all depends what btc is doing.

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loots of fitting 100 MA as a resistance, back in the channel, with a cross of 200MA and 100MA last time this happen we did quite down before a small raise, we have the possibility of a double top too. I think for know is better to stay on the sidelines

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wantd to say 50MA resitence . 200MA 100MA cross explained in this other idea

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we did got rejected from the 50MA as expected , could be the resitence of the flag will be a stop.

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be careful with a double top.

Trade closed: target reached

taget reached , lots of confluences har, I will wait to the breakdown and retest of the descencing triangle to reenter. will wait and see for the next days.

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i will wait for something like this, and to see if BTC stay above of the 200MA daily.

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btc need to say above the 200MA

luissjp

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luissjp