Ethereum seem to have completed the h&s on the weekly chart and has broken down. Next stop on the weekly chart is around the 45usd mark. From here to the 45usd mark, there is no support. If you look at the day chart however, you will see some support. To me, I look at the long term and the day chart is used for day/swing traders. If that is you, good luck as you can still make money shorting.
If we look at the longer picture on the monthly chart, we see that the h&s formation can still happen. On the monthly chart, if we look carefully and if it does form a h&s pattern, then we are looking at a price of 8usd and then jumping back up to around 15usd and then making another correction to the 8usd mark. From there, I am hoping that the trend will reverse and a bull run will take place.
As a reminder, we are looking at next year as
If we look at the longer picture on the monthly chart, we see that the h&s formation can still happen. On the monthly chart, if we look carefully and if it does form a h&s pattern, then we are looking at a price of 8usd and then jumping back up to around 15usd and then making another correction to the 8usd mark. From there, I am hoping that the trend will reverse and a bull run will take place.
As a reminder, we are looking at next year as