If Ethereum Can't Break These Levels, Then....
#ethereum #ethetf #spotetf #crypto #altcoins #altseason
Traders,
I have a pretty good record for calling these inverse head and shoulders patterns before they are fully formed. I am not saying for sure Ethereum will form this inverse head and shoulders pattern but if it doesn't, then it will need to break above those resistance levels I have drawn and confirm. If it can't do this on the daily, then I have a hunch this inverse h&s will complete itself.
Ethereum leads the altcoin market rn. So, depending on where your bet lies, you may want to offset some risks and take profit here as we begin to consolidate/accumulate for another bull run.
Stew
Related post:
This. Is Actually Bullish. But First. One More Liquidation?
Traders, I'm seeing this on the Bitcoin chart as well (future post). But here on Ethereum, we are in a bullish descending wedge. It should break to the upside soon. However, be careful going all in just yet. My spiny senses are telling me we could have one more liquidation of longs incoming before all lights are green. Our .618 fib level seems to be hold…