ETHUSD - Bear Flag
ETH (right chart) is forming a nice bear flag pattern, indicating that it might head lower. Altcoins usually follow BTC price action. For BTC (left chart), the 20EMA recently crossed the 200EMA. There is a good chance that the bull run is over, and we are at the cusp of a bearish period.
Note
ETH retested and closed below the bear flag, confirming bearish movement.
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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.