Hi there. I shared with you my thoughts about Bitcoin yesterday. Today, I want to talk about Ethereum.
Ethereum looks bearish too, like Bitcoin. But, the chart pattern is different. This is a bearish pennant.
A bearish pennant can break down doing an ABC correction or an ABCDE. So, we have to wait till confirmation (as with BTC).
I have drawn the road that I think Ethereum has to take. Don't take the dates into account, as it is rather difficult to know.
Indicators: indicators look bearish too. MACD is about to cross down and RSI is under 50 (4h candles).
Legal disclaimer: *THIS IS NOT A BUY/SELL SIGNAL. Try to do your own research before trading.*
Ethereum looks bearish too, like Bitcoin. But, the chart pattern is different. This is a bearish pennant.
A bearish pennant can break down doing an ABC correction or an ABCDE. So, we have to wait till confirmation (as with BTC).
I have drawn the road that I think Ethereum has to take. Don't take the dates into account, as it is rather difficult to know.
Indicators: indicators look bearish too. MACD is about to cross down and RSI is under 50 (4h candles).
Legal disclaimer: *THIS IS NOT A BUY/SELL SIGNAL. Try to do your own research before trading.*
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First target nailed:
