Anything can happen with ETH but this is pretty apparent. Wish I seen it earlier but I wasn't really looking for it. I've been so busy charting BTC and I don't hold much Ethereum. If it does get this low, hopefully it bounces back quickly. I am no guru, please get several opinions before making choices on chart predictions.
@SBTrading, I'll take that as a no since it wasn't a yes ;) Either way I hope you're right. I want all of crypto to moon
jordanmorin13
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this is actually a pretty useful pattern and we may very well go to 87 dollars but if this pattern does play out we should still see a bounce back up very short term back up to 500 dollars or so before we move any further downward and right now is a beautiful opprutinity to buy
JoeyRocket
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@jordanmorin13, I agree about the opportunity. I think the same for a fair amount of projects right now since I'm more of a long term kind of guy. I want to see everything moon. I think ETH, BTC and much of the top ten is a steal right now in the grand scheme of things. Thanks!
fcgtrading
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Left shoulder is dodgy, you haven't confirmed the volume requirements for a Hns
JoeyRocket
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@fcgtrading, volume during the advance of the left shoulder should be higher than during the advance of the head - Check
The next warning sign comes when volume increases on the decline from the peak of the head, then decreases during the advance of the right shoulder.- Check and then yea there was some decreasing on the decline from the peak of the head but then from march -April as on the way down from the peak volume shot up so looks like a check again.
Final confirmation comes when volume further increases during the decline of the right shoulder.- Check, volume is still rising during the decline of the right shoulder
Please let me know where you see holes, thanks
DaVinciIQ
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H&S only appear in bull markets
Bigsky_Crypto
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Nice chart Joey! ETH definitely looking pretty sick (in a bad way), unfortunately most other alt coins not looking too much better. The pain continues!