Eth - Potential H&S

8 Feb

Hello Traders, the short term top for ETH could be in. This is why you should not ignor this post. Here is our recent track record.

We predicted ETH's top within $30 in this post.
https://www.tradingview.com/chart/ETHUSDT/Wl71qzwT-Eth-Attempting-to-breakout-of-bullflag/

Then we called the top again after our 4H doji formed (same candle that formed the top).
https://www.tradingview.com/chart/ETHUSDT/ldJ6pRYk-ETH-Short-Term-Analysis/

Then we called the bottom on the 4H doji. (never went lower).
https://www.tradingview.com/chart/ETHUSDT/zxe8QCPG-ETH-Ready-to-Reverse/

Then we pointed out the ETH breakout before it happened.
https://www.tradingview.com/chart/ETHUSD/UPariCfl-ETH-Decisive-Move-Soon/

Therefore, our track record based on the TA for ETH is incredible. This is why this post is important. A lot of people have just flipped bullish which shows the herd is starting to get greedy again even though they should have been buying weeks ago when we predicted the low.
1. So based on sentiment we are overexausted.

On the monthly chart, we still printed a bearish doji. This means price is likely to reverse to the downside, but since it is on the monthly it make take some time.

2. Bearish monthly doji

With current PA, price is testing a significant level of resistance (around 2,450) (dotted purple line). If price does get rejected here it could validate a head and shoulder pattern for ETH.
***I must give credit to one or my analysts for pointing this out to me***
If this forms and we break ETH's neckline we could go as low at 1,650 based on the measured move, but could have some support built between 1,800-1,900. This could coincide with BTC reaching 35.5k or even the low 30s.

3. Bearish Head & Shoulders

Of course this is not confirmed in the chart yet, but wanted to prepare you for what the chart says as everyone else flips bullish. The bearish thesis would start to get negated with a significant candle close above $2,550 followed by a Daily candle close above $2,700.