As we can see 4H candles close above trendline and uptrend is still running we may have one more push for now to upside and first target is near 4200 that is right shoulder of head and shoulder if price start to fall from that area (40% expected)then we have strong reversal pattern and huge fall is expected or price can continue pumping easily and reach new ATH even as mentioned on chart with green arrow .
Notice: market need some bull candle now and rise is expected too now after that correction .but for sure be careful and take look at supports available now on chart if theses support break more fall is expected too.
DISCLAIMER:. 1.trade carefully and have stop loss for sure 2.Past performance is not indicative of future results.
ETH/BTC recovered its losses. Unless it drops again, if BTC goes to 54k, ETH might go for double top instead of the H&S
WhenWhat
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Thank you for your analysis. I am hoping it will fall at least 40%, so I can buy more before the code change as then it will most likely be too late. I’m ready! Please keep us updated!
MMBTtrader
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@WhenWhat, yes sure and not bad idea i updated it and it can face 50% correction too why not
y01004750
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Yup, that's how they seal the game. H&S for both ETH and BTC :)
MMBTtrader
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@y01004750, yes bro same is happening in all of market and mostly majors are same
and beacuse of this i just try to share btc condition a lot that follower can manage their long and short positions for next few hours of that post
DISCLAIMER: trade on your own traders
JoaquimGabriel
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perfect
Laurassy
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Great analysis as always! U were so right on 9th of May! Nice job! Keep doing!
ro.goudreau
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It went to low, for that right shoulder, so no head and shoulders.
forex252
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Right shoulder seems too obvious and it bounced off 38.2 so prob going for 4500 maybe 5k
RamzaBehoulve
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I feel the right shoulder might already done and the neckline is actually not flat, but tilting downwards now.
I'm not sure it wil bounce again, it might go directly for 3200 area instead....