Rawlings_NG

ETHEREUM IS ON THE BEARISH PATH OF BITCOIN

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Rawlings_NG Обновлено   
BINANCE:ETHUSD   Эфириум
Hey there crypto enthusiasts, it's been a wild ride for cryptocurrencies this week and ETHEREUM is right in the thick of it!

ETH is currently rockin' a DOUBLE-TOP PATTERN that kicked off around January 1st, 2023. The second part of the pattern has formed just below the NECKLINE, but don't despair - a bullish pinbar has popped up and pushed ETH back to that neckline. This means there's a chance we could see a reversal back up to the $1,500 zone.

Now, I may be a conservative trader, but I'm still excited to potentially short ETH at the $1,500 zone. My targets are set at $1,370-$1,350 for TP-1 and $1,200 for TP-2.

Why $1,200 for TP-2, you ask? Well, that's where the longer arm of the M-pattern (H-1) will be achieved as H-2.

Of course, there are no guarantees in trading, but that's just my opinion. So why not give this post a like, follow me, and share your own thoughts on ETH in the comments below?

Let's keep the conversation going!

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