ETH/BTC is in a spectacular pattern

Тема в разделе "English", создана пользователем Trading Ideas, 23 сен 2020.

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    ETH/BTC is in a spectacular pattern
    Ethereum / Bitcoin BINANCE:ETHBTC
    Mansasuma
    ogYSLUuQ_mid.png
    Welcome!

    I rarely cover anything else other than Bitcoin but in this case I decided to focus on Ethereum´s BTC pairing.

    As you can see the ETH/BTC chart has formed an incredibly beautiful complex head and shoulders that is made off of double left shoulders, head and a double right shoulder.

    I like the confluence with this one as ETH found resistance exactly at the big weekly orderblock (white rectangle ) and goes well in hand with the other things I am seeing in this market at the moment (incredibly bullish Bitcoin dominance for one).

    This pattern is officially confirmed once we get a clean daily close below the neckline (blue line). Once confirmed the final target of the pattern would be somewhere in the yellow box.

    Final thing to note: daily HMAs are in an aggressive sell posturing which means the odds of the pattern indeed breaking down to its final target are high!

    Thank you for reading.
     
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