Alts Showing Strong Sign of Trend FailureA common retracement level for a pullback is the 76 retracement fib. On the first rip off this ETH looked good for trend cont but this failed a long time ago with the failed new high.
Now we have further development of the failure of the uptrend with the 76 breaking again.
Here's a similar point where the doge trend failed.
Most alts failed to make new highs and if they did they made nominally higher once that ended in wicks - classic early tells of trend failure.
Most of them formed in harmonics. A known trend reversal pattern.
Others were even more underwhelming, failing to break the local downtrend structure.
Most of the ones that made new highs ended up looking like this.
Classic blow off pattern.
All of these are already or very close to showing signs of advanced bear trend development - that would be predicted to go on for a considerable amount of time.
We'd only be in the first real failure of the uptrends. The reality of the downtrend not yet really kicking in.
