Hi everyone, let's jump right into the Graph.
I pointed out ETH was forming a double bottom pattern which indicates a reverse bullish run. However, the pattern failed afterward, which means a larger force is pushing on it. So I zoom out, looking at the bigger picture, 4H Chart.
Put it in short, it is a very typical bearish appearance!
1. We see a very clear, giant, head and should pattern is just finished.
2. On the end of the right shoulder, if you look at it carefully, you can see a symmetrical triangle has been developed, which is a continuing decline signal.
3. If you subtract the amplitude of the H&S from the neckline........, the downside project to nothing.....
4. MACD and RSI are also looking at the downside.
So basically, purely based on TA, it is a simple and clear signal, short! sell!
But, the bad news is already everywhere, the JP Morgan passive claim, as usual, the India no-crypto should exist implication... And Warren Buffet said: be greedy when others are fearful. So which side are you going to pick?
I pointed out ETH was forming a double bottom pattern which indicates a reverse bullish run. However, the pattern failed afterward, which means a larger force is pushing on it. So I zoom out, looking at the bigger picture, 4H Chart.
Put it in short, it is a very typical bearish appearance!
1. We see a very clear, giant, head and should pattern is just finished.
2. On the end of the right shoulder, if you look at it carefully, you can see a symmetrical triangle has been developed, which is a continuing decline signal.
3. If you subtract the amplitude of the H&S from the neckline........, the downside project to nothing.....
4. MACD and RSI are also looking at the downside.
So basically, purely based on TA, it is a simple and clear signal, short! sell!
But, the bad news is already everywhere, the JP Morgan passive claim, as usual, the India no-crypto should exist implication... And Warren Buffet said: be greedy when others are fearful. So which side are you going to pick?
