Large bear flag along bearish channel resistance. If volume doesn't pick up, ETH could move down to 270-300 dollar range.
Note
Complete failure of 'bear flag'. ETH going upwards towards longtime downtrend resistance. RSI heavily overbought on the 4H, expecting it to drop soon. Final target remains.Note
ETH reached the downtrend channel resistance. Bearish divergence on the 4H chart. We should see the drop now soon. ETH went up first - just like BTC - but I still think the targets are valid. We just need a tiny bit more FOMO in the market overall before a nasty drop will happen.Note
Well, initial target reached, but certainly not as predicted. Since this analysis I learnt a lot and patterns are only a minor tool I use now. Also, I think the 'bear flag' described back then was never a bear flag in the first place.
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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.