ETHEREUM: Bearish Harmonic
Hello Traders and Investors,
Our previous post trade did well and reached our target. We are now waiting for a confirmation before shorting ETH around 1700 back to 1200. However, there is this harmonic pattern showing on a larger time frame.
It will take some time until we reach back up to 4k. But this provides us an area to take a good amount of profit off the table. Since 4k is a strong resistance area that seen price plummet before. It will be no surprise if price plummets again when the bearish harmonics complete the pattern at 4k. It is important that ETH do not create any new structure so that this pattern is valid.
Let me know what you think.
Our previous post trade did well and reached our target. We are now waiting for a confirmation before shorting ETH around 1700 back to 1200. However, there is this harmonic pattern showing on a larger time frame.
It will take some time until we reach back up to 4k. But this provides us an area to take a good amount of profit off the table. Since 4k is a strong resistance area that seen price plummet before. It will be no surprise if price plummets again when the bearish harmonics complete the pattern at 4k. It is important that ETH do not create any new structure so that this pattern is valid.
Let me know what you think.
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