Ethereum headed to 800+ watch it unfold

1 May 2018

Hey Friends,

Now that I have a clearer picture after hitting our Cup and Handle Target I wanted to update my post on Ethereum to show where we are headed.

I'm seeing a bullish Pennant Pattern on the 4h. Targets are in green and the resistance is in the orangish yellow.

You should also check out the posts by ethhunter for a complimentary view. He's got great ideas and makes good observations in his comments as things develop.

Like it if you like it. Comment if you have a contribution to the conversation.

**This is my own educated opinion for my own portfolio. Please do your own research before trading yourself.**

2 May 2018

Not

This is a zoomed in close up of the 30m chart. You can see the green horizontal zone that was our Cup and Handle target zone. We have a small Ascending Triangle forming on the 30 min just within the peak of that Pennant Pattern, a breakout of the Ascending Triangle will send us into a breakout of the Pennant Pattern and towards our first target. It's looking great so far.

2 May 2018

Not

2 May 2018

Not

Inverted H&S



Also A Fractal Inverse H&S within the right shoulder... Looks like this could be our break from the Pennant

2 May 2018

Not

Liftoff

3 May 2018

Not

Here's a fast forward of the above chart. Next stop 800+ ...

3 May 2018

Not

Getting close to our first target! What a pump!

3 May 2018

Not

I redrew my original Fib Retracement from the resistance line to the bottom of the cup as a long term indicator and sure enough we are testing the .718 retrace right now. We may need to consolidate around this pivot in order to pump higher because the RSI is overbought and I know a lot of trading bots use that indicator, but this is crypto so we may just test this level once and pump higher. We shall see.

The long term fib is in orange and the short term is in my normal light blue.

3 May 2018

Not

My Fib lines weren't distinct in the last update, my apologies. Looking closer, this is a 30 min. chart (last chart was 1h chart) and I do expect consolidation and this a bit is needed.

3 May 2018

Not

Small Descending Triangle (Bearish) on the 30 min. we will likely drop just a bit and bounce off of the EMA's before heading higher.

4 May 2018

Not

First Target Reached.

4 May 2018

Not

We may have a small correction here, but it could just be a good place to accumulate more before the next leg up. Even if we do drop, we've got great support at the 760 +/- 10 level. We have the long term .382 Fib retrace from the ATH in light blue and the short term .786 retrace in orange from the March 5th cliff drop. Also notice the 50 EMA is right in that zone as well. If we do go lower it wont be for long.

4 May 2018

Not

A quick test of Support and we march on.
This is the 1h chart, to compare with my last update but looking at the 30 min we have long lower candle wicks and the candles bounced right off of the 50 EMA on the 30. Just like we expected. Onward and upward Ethereum.

4 May 2018

Not

Clearly more consolidation is needed before moving on. Forming another Pennant Pattern on the hourly

5 May 2018

Not

A clear breakout with a test of the top of the pennant and we climb up to test the resistance.
I'm holding out for our cup and handle pattern target although we will likely form another Pennant Pattern just above the first Pennant Target and just under the resistance zone. But the FOMO engine is fueled up and after BTC hits 10k we should start hearing that baby purr.

5 May 2018

Not

Here is the 1h chart to compare to my update two updates ago, the last one I posted was the 15 min. So this is the 1h same shape but just to put it into perspective for you.

7 May 2018

Not

I can’t upload the chart, but there is a Head and shoulders forming on the 1h. Be wary, the SEC talks tomorrow are spoiling the markets, I’m taking my profit and waiting it out

7 May 2018

Not

Spooking the markets not spoiling, dang auto correct i'm looking at a correction target near our cup and handle target from a couple weeks back. Somewhere in the 660-690 range

7 May 2018

Not

Alright guys, the FUD is over with and apperently the SEC didnt even meet about ETH today so surprise we all got got. But! We hit our target of 660-690 for the Head and shoulders pattern, produced a double bottom and now we are hearded up again, so I am back in the trade. What a night (eye roll)

9 May 2018

Not

We are going to test the $680 support. Let's see where we are when we get there. could be a spring bottom, could signal a different swing in the market. We will see I'm in cash for now

10 May 2018

Not

Looks like we could be breaking out, I'm back in at 151 ish short term looked like we needed to correct, but the levels held and consolidation is biased to the bulls. We need to get to about 770-780 to confirm another uptrend, but I'm busy and cant stay and watch this so I'm back in long.

10 May 2018

Not

Confirmed breakout. Headed back to our Pennant pattern target around $800 then we should retest resistance. The secondary pennant that formed has a target in our Pennant Pattern Second Target in the 900+ range. Buckle in.

11 May 2018

Not

Sorry I've been away and not able to update in such a critical time guys, My fiance's grandfather passed away and it's like 3 month to our wedding so needless to say theres a lot been going on, and I've not been availible.

Here is the update on my thoughts and where we are now.