After reaching the local peak at $280,
ETH calmed down and the local uptrend was changed to a consolidation. The first reason is the correlation between
BTC and
ETH, the second one follows Bitcoin in 9/10 cases. However, Ethereum has its own reasons to go lower.
Let's start with the triangle that had an almost horizontal support, this pattern tells about strong sellers and weak buyers. Moreover, there is a smaller pattern - bearish flag inside the triangle with a double top. Bearish sign x2. We have only one chance to go upward, to do this the price needs to go up and takes hold above the $262 - $268. In other case
ETH will continue falling down.
If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!
Let's start with the triangle that had an almost horizontal support, this pattern tells about strong sellers and weak buyers. Moreover, there is a smaller pattern - bearish flag inside the triangle with a double top. Bearish sign x2. We have only one chance to go upward, to do this the price needs to go up and takes hold above the $262 - $268. In other case
If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!
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Website:
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twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Related publications
Disclaimer
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Klondike Official Links:
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Related publications
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.