Today was an epic battle in ETH. All for the weekly candle. Bulls won and ETH is likely going higher for at least one week. Let’s try to assess what is signaled by candles, indicators and the waves.
The daily candle closed just a tad above the mid point of the previous green candle to keep the bullish odds higher than the bearish ones. The candle is viewed as a consolidation one, but it came very close to a Dark Cloud Cover.
Technical indicators still support a move higher, but started to diverge.
ETH is expected to make one or two more higher highs. If would be critical, though, whether it closes at these points or just hits them and retraces before the daily close.
The weekly candle closed above the strong multi-month resistance line. This is a very positive signal. However, it is worth noting that…
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This is the condensed Track Record of our most recent #crypto calls:
- $BTC – March 24 – call for imminent reversal, target $29000!
This happened when $BTC was $52k and approaching the top, when the experts were calling for $100k and $150k next.
- $ETH – May 16 – call for strong decline, target $1700!
This happened at the beginning of the decline when $ETH ws $3600 and everyone was saying it was a minor blip.
- $BTC, $ETH, $ADA, $LTC – July 21 – call on Bottom
This happened on the day the cryptos formed a strong reversal combo and started rallying.
- $BTC – July 24 – call on the 10 consecutive green days
This happened on the 4th day of the rally once we recognized a special pattern.
- $BTC – Aug 18 – call on Bottom
This happened within minutes after the bottom, at 9:45 pm PST, when $BTC was $44250. It has rallied 10+% after the call.
- $BTC – Sep 6 – call on Top
Within minutes after the top, at 10 pm PST, when $BTC was $52.5k. The next 10 hours it dropped to $42.1k, or 20%.
- $BTC – Sep 18 – predicted a strong reversal down two days in advance.
$BTC dropped from $48.8 to $43.4, or 11%, in a matter of hours.
- $ETH – Sep 19 – forecasted a sizeable drop. In the next several days, ETH fell 627 points or 19%.