Pitchforks
IHS breakout 2nd attemptI dont know if it can be considered as a IHS. It seems to me. Price broke out once, retested the line and breaking out again.
TP1 at 0.618 around 17-18c
Expecting some consolidation at the c-fork line than pump towrds TP2.
TP2 around 27 cents
Invalidation at 0.114 with a 4h candle close.
ETH re-long from action lineThe slope of up-sloping action-reaction set has changed. We are retrying to enter long after previously being washed, now the slope has more confirmations. RR is 1:3.25, but entry limit order should be continuously moving up while time goes by and up-slopping line is taking price higher
ETHUSD long of Action line while price is swinging upHere is a nice slope for long entries found on ETHUSD. For current Action-Reaction set we have median line waiting for nice "wash and rinse" off last 2 points of up-stepping buyers. These last 2 bounces is a nice bait to attract small buyers and collect their stops after that.
NAS100 morning technical analysisTechnical analysis for NAS100.
Very neat how this wedge defines price since 5 August low. Besides the proposed wave (5) up, it has framed and (therefore) provided both support and resistance for price.
The wedge will reach its apex soon, so one side or the other will have to prevail. Failure of price to tag median (red line) of pitchfork suggest return of price to 18297.4 at some point.
BITCOIN short after bounce from two strong slopped linesWe have strong bearish context after 100k was almost met on falling volume.
Now we have strong confirmation when price bounced from 3rd waring line of a downsloping Pitchfork and in the same time zoomed and retested Reaction line from upsloping Action-Reaction set. These bounces were not 100% accurate but left a gap instead, that is even more bearish.
Stop is placed on major high (ATH). Not behind it - in order to avoid slippage.
We are targeting to the center of last major buyers accumulation
NAS100 afternoon updateBearish case for NAS100.
From ATH of 21247.5, proposed impulse wave down (red ellipse) and corrective wave up (green ellipse).
Price action in the context of proposed ending diagonal wave ((5)) (wedge) and failure of price to tag median line (red line) of pitchfork. Bottom of wedge has held as support for price in proposed wave (2) (red ellipse).
If count is correct, first sign would be impulsive price action (wave (3)) to break below wedge and head towards target of 18297.4.
If this is the market top, price will likely go much lower, back towards October 2022 lows.
Ethereum Longterm Price Prediction / 3500$ is the next stationBINANCE:ETHUSDT
COINBASE:ETHUSD
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate.
➡️Entry Area:
Yellow zone
⚡️TP:
3000$
3500$
3914$
🔴SL:
2024$
🧐The Alternate scenario:
If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.