Ethereum Head and Shoulders Still. Possibility
Atualizado
Most are bullish on cryptos again. Therefore we must be cautious as the HnS pattern could still be in play.
Add extremely low volume and there is strong suspicion that this is an HnS pattern at play, which
I mentioned way back in December.
Add extremely low volume and there is strong suspicion that this is an HnS pattern at play, which
I mentioned way back in December.
Nota
Just hold this nonsense short indefinitely. "BTC to 1.5 mllion" is what they said on the last bounce. It has been an eye opener for me thinking most analyst here would be of some competence. But the reality re-affirms the trading stats that most traders lose. We are likely headed towards some even darker times. Be kind to one another.
Nota
10 days in to this analysis and we are correct on this hypothesis.Nota
Been checking 10 days ago, who got this right. Not many.Nota
Charts don't have to be complex with dozens of oscillators. I really use two. Stochastics and RSI, they both give powerful data and when combined they make up for each-other's weaknesses. Sometimes RSI will show negative divergence while Stochastics worn't and then sometimes its the reverse of that. I've been doing this for so long now that simply looking at price action will show me what the likeliest outcome will be. But simplicity is key. What ever you do do not fall for complexity over correct analysis. And go with what you see not what you want to see which is the majority of the chartists here on tradingview. Maybe no one reads these things but for those that do and the ones that identify this as a skill set you want to acquire for yourself, simple rules, simple and immediate clear ideas where the chart does the 100% talking and you do only the 100% of the listening. It should be immediately evident to you. Maybe there is an alternative to your main hypothesis but not 1000 others with 1000 other lines and 12 oscillators blurring the big and immediate picture. Again and again I have demonstrated you can successfully predict the near term future or at least the likeliest outcome. I wish everyone well.
Nota
This chart is playing out beautifully, and remains as relevant as when I first posted it. Amazing. Simply amazing. Simplicity over complexity. Why draw hundreds of support lines when we don't know where it will stop? Why even bother if the "support" lines just get broken over and over again? If you are an Elliott guy galthen you would recognize that the "left" shoulder is the beginning of the 5 wave pattern. I am not an Elliott guy because, once again, it adds complexity to something that IMO demands supreme simplicity. Thanks for your attention
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Well, this played out how I expected. Now we will see if it can start a new bullish trend.Nota
This chart remains relevant. Notice that ETH has gone nowhere as many hope it would break in to a new bull market. Although a few indexes have made higher highs the idea that American (leaders) indexes have not confirmed Nikkei or Dax is a discrepancy that we must take in to account. The chart on the riskiest of investments (crypto) does not look good. This is not a bullish chart at this point. I suspect this moves to new lower lows AND this craze of crypto will die as the new AI craze unfolds probably within a long lasting bear market. Notice that I have not just been bearish and my other public charts signalled accurately bounces in a few assets. I have been right, I have timed correctly weekly moves. I say this with some backing, we likely enter a long lasting bear market soon
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