Descending wedge, continuation pattern. Price target $170 USD
Pennant Pattern forming after invalidating my Head and Shoulder reversal pattern analysis. Note, that trade volume is drying up so, going long from here. To invalidate this pattern, price has to breaks $6, so setup your Stop/Loss at $6 to sell.
After being chastised for my previous analysis that BTC formed a H&S at $53k and was setting up multiple massive H&Ss at $43k and $29k, once this final H&S breaks, price target will be 20k. Look for a retracement to 25k and then a final collapse to under 3k. Between now and then look for short term trading opportunities and not going long. Trade with caution!
Observing the charts, there are two H&S observed. One that's a massive correction that would take ETH to under $100 or upside to 4k. Sitting this one out to see which neckline breaks first. If you're out, I would set a Stop-Limit order on either side you pick.
I see price heading under 3k unfortunately.
Reversal pattern forming. If this retrace to 0.0095 and breaks below 0.0086...Head and Shoulder pattern confirm.
Chart has now been converted from a Descending triangle into a falling wedge. I've now gone long.
Bearish descending triangle. Expect retest of $0.0035
Descending triangle formation. This is an inherently bearish pattern. Expect retest of $0.0030