Yesterday, I mentioned that ETHUSD is likely to have a H&S reversal. Since BTCUSD just broke $10k (to my surprise indeed), even more funds are escaping the top from ETH. It's even harder to imagine ETH regaining momentum at this price level without any retracement -> in fact, the longer it stays here, the deeper the fall will be (as investors who've been waiting become increasingly disappointed).
What I mentioned yesterday, distribution, divergence, and falling wedge -> all still hold true. Combined with the general market sentiment, I venture to say that ETH will fall today to complete the H&S reversal.
What I mentioned yesterday, distribution, divergence, and falling wedge -> all still hold true. Combined with the general market sentiment, I venture to say that ETH will fall today to complete the H&S reversal.
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