ETH Chart - SECRET in the INVERT

ETH is losing ground quickly after a nasty bearish pattern formed in the weekly.

The bearish M-pattern we're currently observing in the macro timeframe:

We know this is a bearish patter, not only because we've seen it many times before but also because it is the opposite of the W-Bottom. (we can actually confirm this by flipping the chart):

In this case, the bullish confirmation would have been a support retest of the neckline:

And so, if we flip it again back to the original view - the opposite can be true. As we get rejected on the resistance line, an even lower price is likely:

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