I am going to keep it short on ETH' this time. The strength it had in Dec, is the opposite so far in Jan.
On the right we can see a good bull flag in the making so far. But we all know that usually the opposite happens, so i would be very careful. If the green support breaks, the chances for a failure increase a lot.
On the left i have drawn a bigger picture. If we follow the red line, we could be forming a H&S which will bring it back to the 2018 lows. If that happens, there is a decent chance for a very big double bottom pattern. But that all depends on the support it will have if we get there.
The blue line suggest we might see a drop as well to test the low again, but it is very important we stay above yesterday's low, That green zone has become a neckline, so we need to see it does not touch that zone and make a higher low. If that happens, we could see a counter move happening. If we touch yesterday's low, the break of the neckline will become very likely.
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Previous analysis:
On the right we can see a good bull flag in the making so far. But we all know that usually the opposite happens, so i would be very careful. If the green support breaks, the chances for a failure increase a lot.
On the left i have drawn a bigger picture. If we follow the red line, we could be forming a H&S which will bring it back to the 2018 lows. If that happens, there is a decent chance for a very big double bottom pattern. But that all depends on the support it will have if we get there.
The blue line suggest we might see a drop as well to test the low again, but it is very important we stay above yesterday's low, That green zone has become a neckline, so we need to see it does not touch that zone and make a higher low. If that happens, we could see a counter move happening. If we touch yesterday's low, the break of the neckline will become very likely.
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Previous analysis:
Comentarios:
But, the right shoulder is quite small, so it could be we will make some more bounces up and down. So i don't expect a big countermove up to happen yet.