ETH was creating and now getting to the point it's almost ratified a large Head and Shoulders pattern.
Not much to say other than if we break this 650 area, it's going down more. Because this is a powerful pattern, we might not see a bounce off of 600 and it might come later around 500.
For me, I will be looking to buy ETH when BTC is around 7k. We'll see what the numbers are when it gets there, not much to say we won't go down further at this point, everything is looking rather bearish, imo.
Happy Trading,
-Sherem
Not much to say other than if we break this 650 area, it's going down more. Because this is a powerful pattern, we might not see a bounce off of 600 and it might come later around 500.
For me, I will be looking to buy ETH when BTC is around 7k. We'll see what the numbers are when it gets there, not much to say we won't go down further at this point, everything is looking rather bearish, imo.
Happy Trading,
-Sherem
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and my arrow has more of an angle to it, I don't expect it to go down that quickly. But you get the idea.Comment
We are still cranking to the downside. I thought it would chop down a little more, but yes it is going down faster than my arrow. lol.It is possible we will get a small pullback for some flips before we continue down. However, my game plan is to look for the area that would offer the largest bounce, which is btc 7k area and where eth falls when that happens. still looking like the 525 area. We'll see, we are getting close.
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If we zoom in, the question is, are we getting a bit of a rebound or is it a bear flag forming? hmmm.... Comment
Chart update - 
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