Looks like eth may complete head and shoulders. Upward trend is broken and HnS pattern showing. Probable break to the down side. Head and shoulders strategy looks like a drop of 827. Look for consolidation around 2673. Now this is just a chart pattern nothing is certain but gains can be made on the dead cat bounces all the way down to what looks like the 26th of May. Who knows may stop and hang out maybe even bounce off vwap or 200 MA, RSI doesnt suggest for a fast plummet but why delay if we need to consolidate and pick up more bullish retail buyers.
Now if RSI gets over sold quickly we can get that bounce and move up. If it breaks to the upside of the HnS pattern expect a test of the high.... any volume left out there?
My short term expectations are 3372 levels of ETH. Maybe if we are lucky we can even get to 2950.
Great opportunities to buy in the dip
puzzledSnow46873
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@Dennis2406, yeah ill start buying down position around .5 retracement and buy down if it continues to fall. gotta see if vwap or 200ma is sturdy enough for a bounce and if enough bulls buy that potential dip.
Cryptomania2363
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Nah bruh get rektttt. Going to 5k from here
puzzledSnow46873
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@Cryptomania2363, its possible thats why these chart patterns have alternate outcomes. These are just possible ideas but it's not intended to be used for long term traders just planning to hold for years. Consolidation is necessary to show potential targets, once peaks are shown bullish buyers interested wait for retracements to enter trades. A break to the upside will probably test 4300 maybe forming a double top with possible same outcome, maybe a little higher 3200 or so. I like your bullish outlook as for me its always been ETH.