Hello Traders,
Ethereum looks bearish here and is following a very similar retrace cycle to last time.
Watch this space as I update this idea.
Ethereum looks bearish here and is following a very similar retrace cycle to last time.
Watch this space as I update this idea.
Note
Look how both bounces hit the 0.5 fib, where the red arrow is pointing.Note
Also weekly 100MA is above price in a similar place and the weekly 200MA and 50MA also look similar in position.Note
On the lower frames it looks like a H+S and there is a 6 and 1/2 year support line that looks like its going to get tested. Note
Targets if this breaks down.Note
I also think this will happen to the ETH/BTC pair. Note
That H+S formation I posted on July 31st finally broke down today.Note
The ETH/BTC pair price has moved into the area where I think it will make a HL. Lets see. 
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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.