🔥 Ethereum Head & Shoulders Break Out! Sell-Off Incoming
Updated
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Just like BTC, ETH has been trading relatively bullish since 2023. However, ETH failed to make new highs in July, unlike BTC, which makes is arguably a lot weaker.
With ETH being the king of the alts, this bearish pattern might signal more pain coming for the altcoins.
I'm anticipating a move towards the November 2022 lows, around 1080. With a stop just above the mosst recent swing high we can construct a very decent short trade with great risk-reward.
Are you bearish on ETH? Share your thoughts🙏
Just like BTC, ETH has been trading relatively bullish since 2023. However, ETH failed to make new highs in July, unlike BTC, which makes is arguably a lot weaker.
With ETH being the king of the alts, this bearish pattern might signal more pain coming for the altcoins.
I'm anticipating a move towards the November 2022 lows, around 1080. With a stop just above the mosst recent swing high we can construct a very decent short trade with great risk-reward.
Are you bearish on ETH? Share your thoughts🙏
Comment
In case you're wondering: diagonal Head & Shoulders patterns are valid patterns. Google is your friend.
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