Ethereum showing some bearish strength. I posted H4 and H1 side to side. The break of the neck, Head and Shoulders pattern, is shown better in H4 and the lower highs in H1 are clearer.
Its currently holding at an established level.
The previous high (arrow) it was a perfect math with a TP3 fib level, before its first leg down.
This is critical zone because a break from here, ETH next target is way below in the 2400s. I love this crypto. Many tokens are built upon the ETH platform. I don't want it to deep that low but I always follow what the charts are showing not what I read or heard.
If it drops to the green zone, then my confidence to buy cheap is greater than buying now with more uncertainty.
Note:
I still stand on my DOGE coin bias. Please see analysis from May 9th below.
Thanks to you all for your comments/likes
Its currently holding at an established level.
The previous high (arrow) it was a perfect math with a TP3 fib level, before its first leg down.
This is critical zone because a break from here, ETH next target is way below in the 2400s. I love this crypto. Many tokens are built upon the ETH platform. I don't want it to deep that low but I always follow what the charts are showing not what I read or heard.
If it drops to the green zone, then my confidence to buy cheap is greater than buying now with more uncertainty.
Note:
I still stand on my DOGE coin bias. Please see analysis from May 9th below.
Thanks to you all for your comments/likes
