SIMILAR CHART PATTERN
SUGGESTION on the top 2 coins in the crypto-world
BTCÐ still on the same pattern, a long descending channel and a possible inverted HEAD&SHOULDERS.
THE DESCENDING CHANNEL
As clearly seen above, bounce to the up side reversing right after touching a support line on the descending channel(btc- from $5779 up to $6300 and ETH- from $423 up to $471, making the channel support a strong one and greatly held.
A near high of 6942usd for BTC and $505usd for ETH will be achieved. Same goes to the inverted head and shoulder also forming, inline with descending channel.
market still pointing to be bearish with a whole lot of shorting in BTC price, same goes to ETH.
If the above is invalidated when channel breaks to the down side we should be looking at target of ETH $391 down to $342 and $5819 down to $4977.
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.