🚧Ethereum Analysis(Three Falling Peaks Pattern)🚧
Updated
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✅Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the 🔴Heavy Resistance zone($2,540_$2,300)🔴 and 🟡Price Reversal Zone (PRZ)🟡.
📚What is the Three Falling Peaks Pattern❗️❓
🔸The three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
🔸The three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
🔨Also, Ethereum managed to break the Support line and 🟢Support zone($2,270_$2,245)🟢.
🔔I expect Ethereum to continue its decline towards the next 🟢Support zone($2,167_$2,116)🟢 after completing the pullback to the 🟢Support zone($2,270_$2,245)🟢 and Support line.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
💫Happy Holidays! I hope all of your Christmas wishes come true.
✅Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the 🔴Heavy Resistance zone($2,540_$2,300)🔴 and 🟡Price Reversal Zone (PRZ)🟡.
📚What is the Three Falling Peaks Pattern❗️❓
🔸The three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
🔸The three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
🔨Also, Ethereum managed to break the Support line and 🟢Support zone($2,270_$2,245)🟢.
🔔I expect Ethereum to continue its decline towards the next 🟢Support zone($2,167_$2,116)🟢 after completing the pullback to the 🟢Support zone($2,270_$2,245)🟢 and Support line.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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