FYI a similar "breakout" happened last summer only for the candles to hit the 4H cloud and then take a massive dump to 135 USD. The more often you hit a trendline the more likely you are to break it. - Dick Donchian
YHL_87
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@oshin11, couldn't agree more. We've touched fib .786 x6 (1D chart) valued @ (693USD). We've seen 13+ on this coin before and I have no doubt its here for long run. And in our world, long means 1 year lol jk.
oshin11
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@YHL_87, see this chart for further info. I'm more worried about breaking the trend line that goes all the way back to the DAO hack and eth's inception (in the trading market at least). Take it with a grain of salt though, it's on a log chart which I consider to be kinda BS.
@oshin11, Holy...I did not know this, thanks for this, makes few decisions crucial...lol
Looks like a symmetrical bullflag combo it with a flag forming, MACD also shows symmetrical lines crossing, and since were in oversold condition, it should flip script. I'm still fairly positive IMO with Eth. RSI looks good too
oshin11
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@YHL_87, I didn't have the ichi cloud showing because it cluttered the chart but if we follow the fractal from last years crash then we might go upwards of 800 and then get rejected by the red cloud. Rejection there would have us go down to retest 500-600 range.
YHL_87
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@oshin11, almost on point, next few days I say eth up trend
oshin11
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@YHL_87, I disagree. The volume based MACD histogram is diverging from the regular MACD histogram. I think in the next 6 hours to 12 hours it'll take a fat dump. Goldman Sachs weighed in saying bitcoin could possibly break below 5900 again.