DrJLT的BITFINEX:ETHUSD的ETH Head & Shoulders? Neckline 600? Target 270?

ETH Head & Shoulders? Neckline 600? Target 270?

Haven't looked at ETH chart for a while & just got this idea:

Does it look like a potential H&S forming? Of course it's not confirmed yet.

& short term isn't that a bear pennant?

A likely target in case of break down would be $270.

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appears to be a breakdown from the pennant?

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ETH about to confirm H&S breakdown!

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after breakdown, I suspect in the next 24h there'll be a retest. so one green day before the huge crash

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indeed looks to be a green day before the real crash

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200D is the support now. quite likely to break down, which will trigger a big crash

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200D has risen to 598, ETH now bear flag 1st target 520

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Definitively fallen under 200D & H&S neckline

Likely a gigantic crash heading to 270

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bouncing pretty hard but to me this isn't the bottom:

at the bottom there should be no bounce anymore. as long as it keeps bouncing ridiculously, the bottom hasn't been reached. people are still talking about the moon, thinking the price is "low" but a few months ago nobody would be paying this price for these coins.

it's like withdrawal symptoms: your addiction is only cured when they no longer show up.

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the power of fake news + sheeps

in the coming days there'll be HUGE drops when news about crypto regulations come out.

the guy just said that crypto doesn't pose risk now BUT if unregulated will pose risk later. no new regulations for banks is not the same as for crypto.

this is exactly the reason why it must be regulated. people who release fake news to manipulate the market need to go to prison

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The real words:

Relevant national authorities have begun to address these issues. Given the global nature of these
markets, further international coordination is warranted, supported by international organisations
such as CPMI, FATF and IOSCO.
• The FSB will identify metrics for enhanced monitoring of the financial stability risks
posed by crypto-assets and update the G20 as appropriate

fsb.org/wp-content/uploads/P180318.pdf

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btw, it was published a week ago, before the governments called for more crypto regulations.

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touched neckline & crashed from it

tomorrow will be interesting, but I have a feeling the real crash is close

when this much irrationality in the market, no real target can be said, though I think 270 is likely.

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Yes we're seeing support here at 500. If Bitcoin crashes, and eth falls below it...

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on the hourly chart, we can see that after the fake news pump last Sunday we're having a H&S. 500 neckline & 420 first target