Bullish Crab in development. Completion of right leg around $350 would signal bottom and lead to sharp turnaround.
Trade active:
Long position order placed at $343.
Trade active:
I've canceled the $343 and placed a long started a long position. The crab has already been completed, the pattern should have been drawn like this:
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If you're following my Bitcoin chart you'll see that BTC will complete the head of it's inverse H&S soon, which will offer a bit of a chance to recoup missed opportunity costs...
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Hold tight, ETH is about to breakout of an inverse H&S:
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Note that the Bullish Crab Pattern fails if we don't make it past mid-way above the right leg without dipping back. Right now, we're cutting it close.
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One last thing, I think the way the crab formation ended up petering out, we would classify it as a Deep Crab Pattern, differentiated by the extended spacing between the legs.