Ethereum Inverse Head-And-Shoulder Pattern
There’s a very clear inverse Head-and-Shoulder pattern on Ethereum’s chart. The break of it will require a break of the triangle that Ethreum is trading in.
While the neckline has technically been broken and prices remain above that neckline, it still has not shown any positive momentum higher. It appears that the triangle Ethereum is trading in is the ‘true’ neckline that needs to be broken. There are two interesting dates in front of us: October 29th and October 30th. October 29th is the exact midpoint of the current Law of Vibration cycle. This midpoint is 96 days, which is also 96 days from the last major swing high zone prior to the most recent down move. October 30th is the apex of this triangle. There are a series of important astronomical aspects that occur near this time period as well.
Sun Opposite Uranus
Today (October 23rd), is the aspect of Sun Opposite Uranus. Opposite means 180-degrees from one another. I’ve reviewed all past times this aspect has appear on Bitcoin’s chart (it has appeared 9 times) and in every incident, there is a significant rally that comes after this aspect, sometimes immediately. We exit the Sun Opposite Uranus aspect on the 25th of October.
Sun Conjunct Venus
This is kind of an ‘ugly’ aspect for Bitcoin – it’s predominantly bearish in nature. But it matters what price is doing prior to this aspects arrival. In almost every case that this aspect has shown up, there has been a marked bearish move. The most recent was on January 9th. However, if Bitcoin is in a long or short term swing low, prices rally – that’s the condition we are in right now.
I’ve discussed this before – and I pointed out back in September that the Venus Retrograde cycle is a very bearish signal for US equity markets. The Venus Retrograde cycle started on October 5th and it exits November 22nd. Bitcoin likes to expand after this Retrograde cycle, but it can also move higher. We’re almost halfway through this cycle.
45-degrees of Mars
If we take every 45-degrees of Mars and plot out the dates, they have a fairly frequency occurence of arriving near highs/lows. However, what is more important is this monstrous gap that appears. Notice this between March 18th and October 20th. That’s a big gap. These large gaps are fairly infrequent, only 4 times of the past 10 years. And here’s what’s interesting about the price action between these gaps of 45-degrees: it seems to alternate from flat price action to bearish price action to flat price action and then back to bearish. The last 45-degree Mars gap between February 1st and September 28th 2016 – which was flat.