Topic: ETHEREUM inverse HEAD and SHOULDER found! (Read 120 times)
Technical analysis in crypto trading sometimes does not work so when decide to use it to make decision to buy crypto always use stop loss because the price of crypto can be going down to 90%. In this situation of crypto market , in my personal opinion there are sign already bull market will be back .
I think it's more luck.
And so it is understandable, if there was a big drop or growth, then the price will unfold and come back.
And so it is understandable, if there was a big drop or growth, then the price will unfold and come back.
I'm bullish on ethereum as well. I'm not sure about your targets because it would probably take us a while to get there, but I do think that ethereum will continue to grow. Of course all this will be invalidated if bitcoin doesn't grow as well, because the correlation between BTC and all the alts is still to strong.
Another thing that is looking good, is that although ETH has been decreasing in the past 4 days, it hasn't lost that much value compared to its latest run. Finally we see almost no upper wicks on the green candles, and we see bottom wicks on the red candles, meaning that bulls are buying the dip. Bear volume seems to be decreasing as well, so I think the bull run will resume once the market decides what is our new higher low.
Another thing that is looking good, is that although ETH has been decreasing in the past 4 days, it hasn't lost that much value compared to its latest run. Finally we see almost no upper wicks on the green candles, and we see bottom wicks on the red candles, meaning that bulls are buying the dip. Bear volume seems to be decreasing as well, so I think the bull run will resume once the market decides what is our new higher low.
I am not a financial advisor nor even a legendary technical chart analyst but based on my instict and observation on every TA charts I had read on tradingview.com, I found an interesting inverse HEAD and SHOULDER pattern at coinmarketcap chart from the month of January up to present that Ethereum may hit $1200 to $1380 by 8th of June. Here are my targets when I saw this pattern 1 month ago.
REFERENCE: https://coinmarketcap.com/currencies/ethereum/#charts
Possible Sell price: $870 to $970 ( May 5 to May 8 ) --> Almost hit my target
Buy Back: $706 to $720 --> I'm almost here
Possible Sell: $1200 to $1380 ( June 8 )
Again, this is just based on my own instinct. I wanted to hear some feedbacks with professional traders here in the forum because I am very bullish to buy ETH at $720 mark.
REFERENCE: https://coinmarketcap.com/currencies/ethereum/#charts
Possible Sell price: $870 to $970 ( May 5 to May 8 ) --> Almost hit my target
Buy Back: $706 to $720 --> I'm almost here
Possible Sell: $1200 to $1380 ( June 8 )
Again, this is just based on my own instinct. I wanted to hear some feedbacks with professional traders here in the forum because I am very bullish to buy ETH at $720 mark.
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