Head and shoulders forming on Ethereum chart

28 thg 8, 2020

Ethereum is forming a head and shoulders pattern following bitcoin [that has formed a double top pattern on the daily chart]

There is also a double bottom on the 1h chart, this double bottom drags the price to $403 - $416 which is the range of left shoulder of the pattern, In other words, it forms the right shoulder if it rejects this range.

31 thg 8, 2020

Giao dịch đang hoạt động

The price has just hit a higher price than expected but it still can be considered as a head and shoulders pattern and the right shoulder's high just touched in my opinion because Ethereum made a higher growth in comparison with Bitcoin which is the market maker so it will have a bigger pull back too [if it does].
IF the price pulls back to $380 the pattern will be completed and the lower prices are expected to be seen

31 thg 8, 2020

Ghi chú

Updated chart