ETHUSD - 1H Trend Lost, Predictable Bearish Pattern? [Refined]
ETH USD Lost the 1H EMAs and has been trading in a predictable bearish pattern since January, 14th.
This outlook, if validates further, has ETH Dropping like clockwork in 5 day periods.
The pattern has ETH in a price channel near $104 - $100 for a few days before taking a recent on avg. drop of 10-12% per large dip($90's), and if the pattern continues, it'll be kissing the $80's soon.
We can see an even-distance from the larger downtrend line positioned above that seems like added pressure.
What's a big plate of Bear without at least a side of Bulll?
On the flip side, there could be an Optimistic Inverse Head a Shoulder Developing in this next move - something to watch, though I won't hold my breath - this looks like rather strong bearish pressure.
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This is a refined Chart Pattern from a previous post today (Jan 31,2019), and it seems to be on schedule:
(just cleaning it up a bit)
Get your Shorts On? Even looks little like a waterfall of bearish momentum. Bulls getting soaked here.
"ETHUSD on to 83, Plan According-ly?
1 Hour Uptrend lost and bears look to grip. Patterning looks quite similar to the last 3 visits to the top of the recent developed downtrend channel in January 2019.
Price looks to be heading to 100, and then on to 90 in the near term.
Lots of folks in TA picking up on the same patterning - LTCUSD showing similar channel as well.
Shorts up? "
This outlook, if validates further, has ETH Dropping like clockwork in 5 day periods.
The pattern has ETH in a price channel near $104 - $100 for a few days before taking a recent on avg. drop of 10-12% per large dip($90's), and if the pattern continues, it'll be kissing the $80's soon.
We can see an even-distance from the larger downtrend line positioned above that seems like added pressure.
What's a big plate of Bear without at least a side of Bulll?
On the flip side, there could be an Optimistic Inverse Head a Shoulder Developing in this next move - something to watch, though I won't hold my breath - this looks like rather strong bearish pressure.
====
This is a refined Chart Pattern from a previous post today (Jan 31,2019), and it seems to be on schedule:
(just cleaning it up a bit)
Get your Shorts On? Even looks little like a waterfall of bearish momentum. Bulls getting soaked here.
"ETHUSD on to 83, Plan According-ly?
1 Hour Uptrend lost and bears look to grip. Patterning looks quite similar to the last 3 visits to the top of the recent developed downtrend channel in January 2019.
Price looks to be heading to 100, and then on to 90 in the near term.
Lots of folks in TA picking up on the same patterning - LTCUSD showing similar channel as well.
Shorts up? "
Trade active:
Bulls gaining the 1H Momentum. Will they have enough to come up over 107.50 and kiss the descending trend line before heading back down? Strong Bear!
Comment:
Break to the Trend Line off Inverted Head and Shoulder on the 30/15 min Chart?
Comment:
There is a good deal of overhead resistance around $107, and the previous short term Inverted H&S pattern saw a quick break above the short term neckline and then an immediate dump.
The range however is tightening on the 1H time frame and ETH looks like it may have to make a decision, break up to the trend line with conviction, or possibly go down and test $100
The range however is tightening on the 1H time frame and ETH looks like it may have to make a decision, break up to the trend line with conviction, or possibly go down and test $100
Trade active:
Something else to note. SMA 200 lurking on the 1H Upper Descending Trend Line. A break to the upside would be met with a quick fist. Price action on the 1H has gained the SMA 100 Support, but it hasn't proved to be any sort of sustaining support since December.
Trade active:
Price action has returned to the trend line, but have the Bulls put a chink in the armor? Support from Psychological $100 could prove useful for a rally at point 6. The larger outer descending channel has yet to be challenged.
The perceived recent "failed rally" could prove useful so far as impulse waves go, and psychology. Everyone is calling for it, $100 and below. The overall pattern outlined here is even too convenient and comfortable for the Bears.
Keeping a watchful eye on $100 and $104 as price slides down along the inner descending channels upper trend line. The Bull could get another shot at this soon - watch for confirmation - volume is needed.
The perceived recent "failed rally" could prove useful so far as impulse waves go, and psychology. Everyone is calling for it, $100 and below. The overall pattern outlined here is even too convenient and comfortable for the Bears.
Keeping a watchful eye on $100 and $104 as price slides down along the inner descending channels upper trend line. The Bull could get another shot at this soon - watch for confirmation - volume is needed.