We see BTC in a small bear flag, but Ethereum seems to me is trying to break the bounds with BTC.
Just FYI. I wonder if Ethereum will follow this channel. Now it is messing around MA20 on 1h chart.
What do you think, will ETH eventually drop below, or move inside this channel, or maybe squeeze upwards?
I can clearly see an H&S pattern formig.
If we hold the 50 EMA, than our next shoulder will probably finish on 8480lvl. Upside movement could bring us as high as 8600 at max.
What do you think?
Share your thoughts.
Following MagicPoopCannon i'm trying now to find different H&S or inverted H&S patterns in crypto.
This time let's look at OmiseGo to USD pair @Bitfinex.
Zoomed in to 30min chart i think there is a possibility, that another shoulder could form.
Not a trade advice. 4 education only.
This is just a share of my thoughts based on MA (20/50/100) analysis.
We clearly see, that MA20 is acting as a support. When candles are majorly under MA20, we see declining pattern, when MA20 acts as a support, we see rising price action. Now we have another retest of MA20 support power. If all price action continues to mess under MA20, we could see another leg...