ETH USD Lost the 1H EMAs and has been trading in a predictable bearish pattern since January, 14th.
This outlook, if validates further, has ETH Dropping like clockwork in 5 day periods.
The pattern has ETH in a price channel near $104 - $100 for a few days before taking a recent on avg. drop of 10-12% per large dip($90's), and if the pattern continues, it'll be kissing the $80's soon.
We can see an even-distance from the larger downtrend line positioned above that seems like added pressure.
What's a big plate of Bear without at least a side of Bulll?
On the flip side, there could be an Optimistic Inverse Head a Shoulder Developing in this next move - something to watch, though I won't hold my breath - this looks like rather strong bearish pressure.
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This is a refined Chart Pattern from a previous post today (Jan 31,2019), and it seems to be on schedule:
(just cleaning it up a bit)
Get your Shorts On? Even looks little like a waterfall of bearish momentum. Bulls getting soaked here.
"ETHUSD on to 83, Plan According-ly?
1 Hour Uptrend lost and bears look to grip. Patterning looks quite similar to the last 3 visits to the top of the recent developed downtrend channel in January 2019.
Price looks to be heading to 100, and then on to 90 in the near term.
Lots of folks in TA picking up on the same patterning - LTCUSD showing similar channel as well.
Shorts up? "