prefabsprout

prefabsprout Updated  Apr 13

Falling wedge on the 4h means hope is on the way but another leg down in the structure seems likely as we were rejected at resistance the first time. Time to reload shorts?

prefabsprout Updated  Apr 9

This is a bullish pattern, so there's a hope and expectation the price will rise if and when we break up out of it. Price falling down out of this pattern would be exceptionally bearish.

prefabsprout Apr 7

Even if it remains in this longstanding bearish channel ETH can retest resistance up around 2000. Tumbling down out of this channel would of course be uber-bearish. However even in this (overhyped?) Bloody Monday it managed to respect support. So a swing trade up this week is of interest to me. Not advice. What are your thoughts?

prefabsprout Updated  Apr 6

Right at support in this downward channel; will we break thru before tomorrow morning's planned dump or is this another little bear trap? Can't wait to hear what my followers have to say.

prefabsprout Updated  Apr 6

And it's a bullish signal usually. If BTC does fall down out of this wedge that will be very bearish indeed. If it breaks up the target will be a new ATH. Good luck this week!

prefabsprout Updated  Apr 6

No doubt about it, the chart here favors a small pump on the 1h chart. Could even take one more leg down to around 80 and still rise up out of this bullish pattern. Thoughts?

prefabsprout Updated  Apr 6

Evening Star on the 4h could signal the end of the strange bull rally on this Memecoin. Barring any weekend tomfoolery, this could be a good spot for a short. Not advice.

prefabsprout Apr 4

It's been breached with a bear trap and a bull trap, but it's there. Watch this channel to build more structure over the weekend.

prefabsprout Updated  Apr 3

But a retest of those prices will be bullish. It might be a good place to set a buy if you're trading the type. dont sure me if it dumps tho. gl.

prefabsprout Updated  Apr 2

If we can break AND CLOSE above resistance here we can move even further up, barring any cruel fakeouts. Firm rejection here and continuation down tomorrow will be very bearish and support short scenarios. Anyone have any thoughts on this idea?

prefabsprout Mar 28

Because if that's what just happened we are bullish after all... Let's see if bulls can hold 85k today and continue up over the weekend? What say you?

prefabsprout Updated  Mar 26

Obvious falling wedge here gives us hope, however we could still see a bleed off to around 70k before we get a pump out of the formation. Dumping out of this formation would indicate a bear market in my mind, and fundamentals of Trump/WW3/swine flu/climate catastrophe support that. Exciting times lol!

prefabsprout Updated  Mar 26

On the 4h we see that price is respecting this bearish channel and 70k looms. Failure to break up out of this channel favors the bears strongly.

prefabsprout Updated  Mar 26

Today and tomorrow are critical. Today's candle needs to clear 89s with conviction or we stand a very strong chance of falling down out of this rising wedge and that will spell 80 or lower most likely. RSI looks healthy and bullish however. All that said, beware of some fakeouts in one or both directions to lure leveraged traders one direction or the other based...

prefabsprout Updated  Mar 24

Timing would be just right for a bullish break up and out of this huge descending wedge some time in the next few days. An upward channel has developed on the 4h chart, which further signals this may be where the price is headed. Please add your thoughts on this idea below.

prefabsprout Updated  Mar 11

Chart speaks for itself. To have hope for this week we need to push into and up out of the formation we fell out of. This will signal that this was all a bear trap after all and we can regain hope to go up. Any predictions?

prefabsprout Mar 10

Since ATH we have been in a downward channel on the Daily BTC chart. Until we break up out of this there's nothing to be happy about on the Bull side of things for the mid to long term. That said, today we are at the bottom of the channel, so a swing trade long is tempting. What say you?

prefabsprout Updated  Mar 10

Do you see the timing? If it doesn't break up or down sooner it will have to make a decision by Monday morning. So which way will it be? Sell the news on a dud of a Friday night Crypto Summit? Or ground shaking headlines Monday morning?