ð§Ethereum Analysis(Three Falling Peaks Pattern)ð§
ðMerry Christmas!
ðŦHappy Holidays! I hope all of your Christmas wishes come true.
â Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the ðīHeavy Resistance zone($2,540_$2,300)ðī and ðĄPrice Reversal Zone (PRZ)ðĄ.
ðWhat is the Three Falling Peaks Patternâïļâ
ðļThe three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
ðļThe three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
ðĻAlso, Ethereum managed to break the Support line and ðĒSupport zone($2,270_$2,245)ðĒ.
ðI expect Ethereum to continue its decline towards the next ðĒSupport zone($2,167_$2,116)ðĒ after completing the pullback to the ðĒSupport zone($2,270_$2,245)ðĒ and Support line.
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
ðŦHappy Holidays! I hope all of your Christmas wishes come true.
â Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the ðīHeavy Resistance zone($2,540_$2,300)ðī and ðĄPrice Reversal Zone (PRZ)ðĄ.
ðWhat is the Three Falling Peaks Patternâïļâ
ðļThe three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
ðļThe three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
ðĻAlso, Ethereum managed to break the Support line and ðĒSupport zone($2,270_$2,245)ðĒ.
ðI expect Ethereum to continue its decline towards the next ðĒSupport zone($2,167_$2,116)ðĒ after completing the pullback to the ðĒSupport zone($2,270_$2,245)ðĒ and Support line.
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
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ðGet a 20% Discount on your trading FEE on BYBIT:ðpartner.bybit.com/b/PEJMANZWIN
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