We currently have an inverse head and shoulders forming at the bottom of a descending wedge, its hard to know what to make of this because even if it does play and we shoot up we got some serious resistance above. Furthermore if you zoom out we have formed a perfect diamond pattern that simply can not be ignored, we need enough volume and momentum to blast out of it other wise this will only help confirm the upper tend line of the diamond, if you dont know diamond formations are generally considered to be pretty consistent reversal formations. There is no clear choice where to go right now with ETH, at least to me i see just as many signs pointing upwards as i do down.
I really believe in ETH and do think that eventually it will push forward and maybe even flip bitcoin at some point ( i know thats an unpopular opinion) but right now it needs to be considered that we could be at the start of a serious down trend. Hopefully that is not the case but I have personally secured some of my profits just in case it is.
I really believe in ETH and do think that eventually it will push forward and maybe even flip bitcoin at some point ( i know thats an unpopular opinion) but right now it needs to be considered that we could be at the start of a serious down trend. Hopefully that is not the case but I have personally secured some of my profits just in case it is.