Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Ethereum price prediction from a previous analysis This ETH Pattern is Playing Out Exactly! Get Ready
In our previous Ethereum analysis, This ETH Pattern is Playing Out Exactly! Get Ready we talked in-depth about the Head and Shoulders Pattern currently forming in the 4-hour timeframe and what this might mean for the ETH price in the coming days.
However, in this ETH TA, we will be talking about a unique price action that is playing out right now and how this could help us spot exactly when the ETH sell-off starts.
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 $30,000 Bonus when you fund your Bybit account with our Bybit link
Claim up to $30,030 in Bonus
100x Leverage
Start TradingHistory About to Repeat! Watch This Price Action.
Urgent! History About To Repeat On ETH. Watch This price prediction in the 4-hour timeframe
What we are watching right now, is the Channel pattern forming in the 4-hour timeframe.
The last time we saw this pattern play out was during the formation of the Left Shoulder! Right now, we are seeing it form again, confirming our bearish prediction and the validity of the Head and Shoulders pattern playing out right now!
In the coming days, we expect to see a similar Channel Pattern form and the ETH price to break out of it to the downside.
What Now For Ethereum?
Urgent! History About To Repeat On ETH. Watch This price prediction in the 4-hour timeframe
For now, we are still seeing multiple bearish patterns forming in the ETH 4-hour timeframe. However, we still do not have any bearish confirmation to indicate the start of the ETH sell-off.
So for now, we will continue to stand aside and wait for the ETH price to start breaking key levels and begin heading lower.
The first level the price will need to break is the Channel pattern. We need to see the ETH price breakthrough this 4-hour channel pattern and begin to head down in the coming days.
Final Verdict!
We are still very bearish on Ethereum! However, we do not have any trade confirmation yet to indicate the sell-off has started for the Altcoin price.
For that to happen, we need to see the ETH price first breakout of the channel pattern to the downside. A bearish breakdown like this could easily lead to the Head and Shoulders pattern sell-off we are waiting for to play out in the coming days.
Claim up to $30,030 in Bonus
100x Leverage
Start TradingHow to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top 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 Ethereum Price Prediction Daily (12-July): Urgent! History About To Repeat On ETH. Watch This 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.