ðĨ Ethereum Head & Shoulders Break Out! Sell-Off Incoming
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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 thoughtsð
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 thoughtsð
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In case you're wondering: diagonal Head & Shoulders patterns are valid patterns. Google is your friend.
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