Hi guys. Eth completed a H&S pattern targeting $600 and broke down and currently in a bear flag formation targeting $500. (green box on the chart is between $500 and $600)
BTC remains the leader and is pulling all other major coins by the nose so in essence, watch what happens to BTC.
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Kommentar
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target 1 of $600 reached. hope you took advantage.
You missed two major support lines that intersect at 630... I would be very surprised, and a little bit worried, if it actually went through!
bilo2000
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@scaramucci, You are right. they are major supports but I think we will go through as there are 3 very dominant bearish patterns inside a downtrend channel.
scaramucci
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@bilo2000, How did you calculate your H&S target? When I calculate it, it gives me a target of 680.
Shoulders high: 911.20
Head low: 785
Breakout: 807
Target: 807-|911.20-785|=680.8