EthereumUpdated Inverted H&S Pattern starting to show its face in the forest
Asses hypothesis of your forest and wait for confirmation. Keep things simple.
In the meantime, follow the trend and delve into the trees.
Now bend some of the lighter branches for a quick scalp. If you build more strength you will be able to bend some of the thicker branches as well.
Have Patience of the forest.
If the trees are starting to grow in favour of your hypothesis, begin preparing on how you're gonna catch the opportunity. And prepare for an exit, in the likelihood of the forest turning out completely different. If you don't, you will be lost in the wilderness with no way out before it is too late.
In the meantime, follow the trend and delve into the trees.
Now bend some of the lighter branches for a quick scalp. If you build more strength you will be able to bend some of the thicker branches as well.
Have Patience of the forest.
If the trees are starting to grow in favour of your hypothesis, begin preparing on how you're gonna catch the opportunity. And prepare for an exit, in the likelihood of the forest turning out completely different. If you don't, you will be lost in the wilderness with no way out before it is too late.
Note
So far we've seemed to have marked the ending of the face and begun the painting of the right shoulder. I expect some retracement and a fight from the bulls during this current bearish engulfing on the 24. feb 3 day candle but with a close that will end victorious for the bears. I then expect sideways action before another drop, to move on the progression of the shoulder. Based upon fractal analysis of BTC I think it'll be ready to take on a higher percentage market share of the overall market during the painting of this right shoulder that Ethereum seems to be hinting of.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.