Ethereum ETH - targets 3500-3750. See the analysis why.
Dear traders,
A new update for Ethereum for the short term.
Traders, we have almost formed the right shoulder of an inverted head shoulder formation. To validate it we need to break through the neckline. Possibly the neckline will then be tested again by the price of Ethereum but it doesn't have to be. Important: without a break trough the neckline the pattern is not validated and that is also the case for the Bull flag.
Very positive for Ethereum is that the downward trend line has been broken upward and also already retested.
Targets 3745 for Ethereum for the inverse head shoulder.
Interestingly, we also see a Bull flag with a target of 3583 if and only if Ethereum can break it upwards.
Please note traders, this is a hypothesis, Patterns can and do fail regularly but we have a fairly high probability that it will go this way.
Always keep other scenarios open such as a pattern failing as this can produce a sharp counter move.
The RSI indicator is low on a daily basis so it still has considerable room to rise. We are not yet in an oversold situation ;-)
I would take a close look to the downward blue trendline which forms also the lower boundery from the Bull flag. The inverse head and shoulders pattern more particular the right shoulder has still room down and still remains valid as long as we are not going to the lows again.
Good luck and hopefully Ethereum will make up for some of its losses. I think the bull market is not over yet because it is still too early in the year. Again, no guarantee but just an analysis of data.
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍. That motivates me a lot to continue 💚!
A new update for Ethereum for the short term.
Traders, we have almost formed the right shoulder of an inverted head shoulder formation. To validate it we need to break through the neckline. Possibly the neckline will then be tested again by the price of Ethereum but it doesn't have to be. Important: without a break trough the neckline the pattern is not validated and that is also the case for the Bull flag.
Very positive for Ethereum is that the downward trend line has been broken upward and also already retested.
Targets 3745 for Ethereum for the inverse head shoulder.
Interestingly, we also see a Bull flag with a target of 3583 if and only if Ethereum can break it upwards.
Please note traders, this is a hypothesis, Patterns can and do fail regularly but we have a fairly high probability that it will go this way.
Always keep other scenarios open such as a pattern failing as this can produce a sharp counter move.
The RSI indicator is low on a daily basis so it still has considerable room to rise. We are not yet in an oversold situation ;-)
I would take a close look to the downward blue trendline which forms also the lower boundery from the Bull flag. The inverse head and shoulders pattern more particular the right shoulder has still room down and still remains valid as long as we are not going to the lows again.
Good luck and hopefully Ethereum will make up for some of its losses. I think the bull market is not over yet because it is still too early in the year. Again, no guarantee but just an analysis of data.
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍. That motivates me a lot to continue 💚!
Comment:
You see here a textbook Bullflag ;-)
Comment:
In the Bullflag we have now formed a mini inverted head and shoulders pattern. The pattern is not complete yet because the right shoulder is still forming.
The upper boundery of the bullflag is the neckline. For a validated pattern ETH need to break out to the upside and of course with good volume!
The upper boundery of the bullflag is the neckline. For a validated pattern ETH need to break out to the upside and of course with good volume!
Comment:
By the way traders, Our last inverted head and shoulder was exactly hit. The target was 2711 and it went up untill 2744 :-)
Now let us hope Ethereum wants to go up but it looks like it is now accumulating fuel for the launch.
Now let us hope Ethereum wants to go up but it looks like it is now accumulating fuel for the launch.
Comment:
Dear traders, do not trade this pattern before you have a confirmed breakout to the upside with more than average volume. If the Bullflag / neckline is not broken to the upside it will decline again. Untill where remains to be seen as new structures develop and of course without stops thismarket is suicide but that is well know.
Wish you safe trading and profits!
Wish you safe trading and profits!
Comment:
Traders, I expect Ethereum will fall back to test the breakout neckline of the inverted Head and shoulders pattern around 2660 - 2640. Perfectly normal and nothing to worry about. The Bullish trend will continue!
Comment:
Yes it is happening right now:
Comment:
I posted the wrong chart here but this is the right one.
Target was hit at the neckline
Target was hit at the neckline
Comment:
Looks like a normall bullflag and a second retest of the neckline.
The inv HS is still perfectly valid!
The inv HS is still perfectly valid!
Comment:
Traders please look at this chart:
Comment:
Traders, you can see a broken trendline and a rising wedge which has been already been broken.
When the neckline of the Inverted HS breaks, then the pattern become invalid and we can revisit lower levels. We could then still form an even bigger inverted HS with a higher target so the bullish scenario is far from over.
important:
The neckline is NOT broken downwards at this moment and if it does it needs some space. A intraday candle spike from 15 minutes is not enough. we need a 1 hour candle closing well below the line before I pesonally close my own psoition.
When the neckline of the Inverted HS breaks, then the pattern become invalid and we can revisit lower levels. We could then still form an even bigger inverted HS with a higher target so the bullish scenario is far from over.
important:
The neckline is NOT broken downwards at this moment and if it does it needs some space. A intraday candle spike from 15 minutes is not enough. we need a 1 hour candle closing well below the line before I pesonally close my own psoition.
Comment:
Rocket launch now out of the declining trendline
Comment:
Hello traders, here an updated chart. Everything goes exact as planned.
High probablility that we will be soon we will reach the target for the inverted HS formation.
Good luck!
High probablility that we will be soon we will reach the target for the inverted HS formation.
Good luck!
Comment:
Dear traders, I updated a chart which you need to look at. Not to scare you but just to show you some signs I see in Bitcoin. Because Bitcoin is the leader, the Alts follow if it would decline. Also do not forget that we have had already a massive upleg and possible that also needs a counter reaction. I have no bias, no long, no short. I just trade what the charts show, nothing more and nothing less. I like to keep it clear and simple ;-)
Comment:
Dear traders,
In Ethereum we see also a head and shoulders. Neckline was broken and is re-testing. In Bitcoin the beckline pierced it bu came back. Patience because it is a tough resistanse but it will probably happen.
Lower targets also for ETH toward the last low. And the rest of the market more or less the same with exception of some pumped and dumped coins (BEAM).
In Ethereum we see also a head and shoulders. Neckline was broken and is re-testing. In Bitcoin the beckline pierced it bu came back. Patience because it is a tough resistanse but it will probably happen.
Lower targets also for ETH toward the last low. And the rest of the market more or less the same with exception of some pumped and dumped coins (BEAM).
