If you have been watching the PTON chart for the past few weeks and/or been following my ideas over the past two weeks, you would have seen the head and shoulders pattern materialize/activate. However, earlier this morning, a new pattern entered the mix! As you may already know, it is very common for the price to come back up to the neckline of the H&S pattern...
The patterns has seems to be repeating again, we saw this rising wedge happen before a massive bearish move before. We are once again seeing the same pattern happening, this could mean that we might see another massive drop in price. This is not good for Ethereum as the price is getting lower and lower, the price is also getting very close to a critical support...
This may seem like I'm reaching but if this follows pattern it would validate taking a long buy off the D leg of 1st pattern up to the d leg for a short trade off that d leg. Ill definitely be watching closely.
