Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Watch This Ethereum Head and Shoulders Pattern! Best Time To Sell? Price prediction in the 15 minutes timeframe
The Ethereum price is currently forming a key Head and Shoulders Pattern in the 15 minutes timeframe. This pattern is a reversal pattern and therefore indicates we might see a quick sell-off for the ETH price very soon!
In this Ethereum analysis, we will be talking about the key levels we are currently watching as well as our targets for this coming sell-off.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,450 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link
Claim up to $4450 in Bonus
100x Leverage
Start TradingEthereum Head and Shoulders Pattern
The Head and Shoulders Pattern has a standard way of trading it as well as a standard target we can aim for.
For our entry, we want to see the ETH price break and close below the Neckline Support in the 15 minutes timeframe. A bearish breakdown like this would be the perfect confirmation we need to indicate the start of the sell-off for Ethereum.
Unless this key Neckline Support is broken, we will stand aside and wait for this bearish confirmation to play out.
Watch This Ethereum Head and Shoulders Pattern! Best Time To Sell? Price prediction in the 15 minutes timeframe
Ethereum Bearish Target!
The bearish target for this Head and Shoulders pattern currently forming in the ETH 15 minutes timeframe is the $1,171 price region. We expect to see the ETH price sell-off down to this region in the coming days.
However, for this bearish bias to be confirmed, we need to see the ETH price break and close below the Neckline Support.
Once this support is broken, we can expect to see the push lower begin.
Watch This Ethereum Head and Shoulders Pattern! Best Time To Sell? Price prediction in the 15 minutes timeframe
Final Verdict!
The Ethereum price is currently setting up for a potential sell-off back down to the $1,171 price region. The key pattern that confirms this bearish bias in Ethereum is the Head and Shoulders pattern currently forming in the 15 minutes time frame.
If this pattern plays out exactly, we can expect to see this sell-off in ETH start soon!
Claim up to $4450 in Bonus
100x Leverage
Start TradingEasy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting
The post Watch This Ethereum Head and Shoulders Pattern! Best Time To Sell? appeared first on Bitcoinsensus.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.