With Bitcoin and Ethereum falling again, I want to discuss a potential pattern that will emerge in the coming weeks: a bearish head & shoulders pattern.
Not sure yet if 3k will hold, but if it doesn't we expect a further fall to 2.75k. Would be surprised if we get lower than that, unless the stock markets will fall apart or something.
If we reverse from 2.75k, a rise to 4k is definitely in the cards. Most likely scenario would be for the price to fall down after that.
These never play out. As we all know ether and bitcoin charts are basically identical on the daily, with ether lagging about 2 weeks with printing Bitcoin patterns. Bitcoin has formed 2 head and shoulders on daily over the years and skyrockets when it forms final shoulder. Not thinking this is gonna be any different. However you failed to see the bullish divergence on the daily with ether which on the other hand plays out 100% of the time unlike the head and shoulders. Good luck out there.
kimstandgraph
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Well done mate
kevinneptune3
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if eth breaks 3000 most likely btc would have broken the neck line of the head and shoulders on the daily time frame... be careful because that bounce at 2750 might be a little difficult especially to 4200 if that happens..
matejcimbalnik
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Very interesting, thanks!
RahmatArian
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how stock market affect crypto? what to write on tradingview to find it out? thanks for ur idea