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ETH to $1.3K - Bearish flags pattern (Daily)
Hi everyone,
So after we've broken the rising wedge on the daily, we saw ETH creating a series of bearish flags.
Bearish Flag 1:
"Pole" was created from $1847 to $1520, then ETH entered in a correction uptrend (rising flag) ranging between 1520 to highest point of 1722.
Bearish Flag 2:
Immediately after the high of 1722 Eth began to create the second flag pole which too it from 1720 to $1443. Then we saw ETH creating a rising flag again and this time it was trading between $1423 to $1620.
Bearish Flag 2 continuation (yet to happen):
The distance of flag pole 2 is likely to be the same distance to create flag pole 3 which will take us to 1280 which also happens to be a golden pocket support (0.65 point on fib). This fib was drawn from the lowest point ETH reached which was $878.02 back on 18th June to the highest point of $2030.
Now, we can look at smaller timeframes to spot when will flag pole 3 is likely to happen.
P.s. This is Not Financial Advice.
So after we've broken the rising wedge on the daily, we saw ETH creating a series of bearish flags.
Bearish Flag 1:
"Pole" was created from $1847 to $1520, then ETH entered in a correction uptrend (rising flag) ranging between 1520 to highest point of 1722.
Bearish Flag 2:
Immediately after the high of 1722 Eth began to create the second flag pole which too it from 1720 to $1443. Then we saw ETH creating a rising flag again and this time it was trading between $1423 to $1620.
Bearish Flag 2 continuation (yet to happen):
The distance of flag pole 2 is likely to be the same distance to create flag pole 3 which will take us to 1280 which also happens to be a golden pocket support (0.65 point on fib). This fib was drawn from the lowest point ETH reached which was $878.02 back on 18th June to the highest point of $2030.
Now, we can look at smaller timeframes to spot when will flag pole 3 is likely to happen.
P.s. This is Not Financial Advice.
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