Okay, so it looks like we broke the bearish parabolic curve and ran into resistance above. It looks like ETH is making a turn around. I put some of the possibilities I think are possible and where it could bounce. It could retest lower levels but it should recover. Parabolic curves usually retrace 50% - 78% so we should see higher levels soon. On the way up, I think we will run into resistance but if we keep pushing upwards, we will be creating a lot of inverse head & shoulders and bullish patterns. Again, bullish patterns can become bearish very fast if we do not consistently touch the trendlines. Hard to explain over text but if an inverse head & shoulders has a right shoulder that is never completed, it starts creating a bearish parabola which usually creates the opposite pattern. A head & shoulders. So, at this point it looks good but it is something that always changes.
P.S. we also have a bullish divergence on eth and btc.
Linked the previous idea I posted below.
P.S. we also have a bullish divergence on eth and btc.
Linked the previous idea I posted below.
Comment:
Also, we have something that looks like an inverse head & shoulders but with extra shoulders lol forming inside. If it breaks up, it will retest the trendline again.
The reason why I do think we did is because now we are testing a linear trend line which you do not have with parabolas. But, if we still do have a parabola, then we could dump to $1500 where it says "possible"