SELL Ethereum!! Eth H&S Pattern Confirmation. Bears in Control!
This chart is pretty self-explanatory.
Head and shoulders pattern has completed and with current Macro-Economic conditions worsening and tightening, I guess this truly was one of those, "Buy the rumors, sell the news" events with the Ethereum Merge.
Not only this, but we are consistently trending down, making a series of lower highs and lower lows. The trend remains intact and very strong.
I thoroughly expect us to double bottom or even make a new low on Ethereum. The time frame for when this happens remains to be seen.
My take profit Targets on my short are $1000 - $880 for 75% of my position. I will hold this position into a new low if that occurs.
This will be my position on the markets until we print a new higher high and a breakout on Ethereum above $2,050 will prove this theory wrong.
Head and shoulders pattern has completed and with current Macro-Economic conditions worsening and tightening, I guess this truly was one of those, "Buy the rumors, sell the news" events with the Ethereum Merge.
Not only this, but we are consistently trending down, making a series of lower highs and lower lows. The trend remains intact and very strong.
I thoroughly expect us to double bottom or even make a new low on Ethereum. The time frame for when this happens remains to be seen.
My take profit Targets on my short are $1000 - $880 for 75% of my position. I will hold this position into a new low if that occurs.
This will be my position on the markets until we print a new higher high and a breakout on Ethereum above $2,050 will prove this theory wrong.