Ethereum is forming a head and shoulder pattern on a daily time frame after retracing the fibonnaci level of 38.2% and 20 DMA.
The coin has given a nice movement and is retracing before another up move.
The coin is trading below the moving averages.
Two confirmation patterns are being formed in the coin on the daily time frame
1. Head and shoulder pattern
2....
Market now forming an falling wedge pattern structure formed, wait for the good entry at the trend line support or resistance level breakout after entering the trade
Wait for the good entry at trend line support or resistance level breakout after entering the trade , market forming an symmetrical triangle pattern structure formed.
Ethereum broke out of a horizontal range on the downside and moved down sharply. As a pullback it has come back up to test the resistance (previous support). This could be a potential high reward to risk opportunity.
Supply n demand pattern formation on ETH on a 4hr timeframe ! Target should be around 1040$ !
🚫Disclaimer:
🔹I'm not an financial analyst! I'm sharing this with public! It just learning purpose only!
🔹 If u find anything wrong with this post ! U can tell me ⬇️ comments!
🔹incase of BTC crash ! This chart is invalid !
Thank you!!!
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Eth is currently under a heavy sell pressure and getting resistance from fib speed fan and also 0.5 fib level.
On 4 hrs the volume is also decreasing.
Expect a retrace back to the previous high
This is merely a trend analysis post. ETH has broken out of a range and is edging higher. Till now, we have been selling at the range top and buying at the range bottom. As there is a change in the market structure from range to uptrend, we can draw an upward moving channel as a guide to initiate high probability trades.
If the channel continues to hold,...
