ETH Hidden Bearish and Head and Shoulders Predict Doom

A reminder, hidden bearish divergence is when you get a lower high with the price action but a higher high with the indicator, usually the RSI and MACD. One of the best ways to think about hidden bearish divergence is the indicator has moved up high enough so there is psychologically more room for it to go down. The blue lines show we have clear bearish divergence on the daily chart, which is a pretty high timeframe to see hidden bearish divergence for cyrpto, and the orange lines show that we have more hidden bearish divergence between the head and the right shoulder.

The head and shoulder formation is admittedly canted, but I believe we will see it play out as we generally see head and shoulders play out. Hidden bearish divergence predicts a continuation of the downtrend and so I predict we will get close to or below the low on 168 on the 19th of September. Additionally, I encourage anyone who has not read my post on Quantitative Tightening to read it, as it lays a clear groundwork for a bearish outlook on fiat alternatives, like precious metals and crypto, as well as sectors dependent on lose credit like real estate. I am also linking my last post on hidden bearish divergence in part because there was a vocal dissenting comment predicting full bull run and I hope they see that really isn't in the cards.