๐งEthereum Analysis(Three Falling Peaks Pattern)๐ง
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๐ซHappy Holidays! I hope all of your Christmas wishes come true.
โ Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the ๐ดHeavy Resistance zone($2,540_$2,300)๐ด and ๐กPrice Reversal Zone (PRZ)๐ก.
๐What is the Three Falling Peaks Patternโ๏ธโ
๐ธThe three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
๐ธThe three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
๐จAlso, Ethereum managed to break the Support line and ๐ขSupport zone($2,270_$2,245)๐ข.
๐I expect Ethereum to continue its decline towards the next ๐ขSupport zone($2,167_$2,116)๐ข after completing the pullback to the ๐ขSupport zone($2,270_$2,245)๐ข and Support line.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๐ซHappy Holidays! I hope all of your Christmas wishes come true.
โ Ethereum(ETH) managed to form a Three Falling Peaks Pattern near the ๐ดHeavy Resistance zone($2,540_$2,300)๐ด and ๐กPrice Reversal Zone (PRZ)๐ก.
๐What is the Three Falling Peaks Patternโ๏ธโ
๐ธThe three falling peaks pattern consists of three peaks and two valleys of give or take equal size. The pattern has a downward slope meaning that each peak is lower than the last, and the same applies to the valleys.
๐ธThe three falling peaks pattern validly forms when, after the last peak, the price falls below the second valley signaling a market reversal and a large price drop.
๐จAlso, Ethereum managed to break the Support line and ๐ขSupport zone($2,270_$2,245)๐ข.
๐I expect Ethereum to continue its decline towards the next ๐ขSupport zone($2,167_$2,116)๐ข after completing the pullback to the ๐ขSupport zone($2,270_$2,245)๐ข and Support line.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Ethereum Analyze ( ETHUSDT), 1-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
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