As we can see there is a huge Head&Shoulders Pattern that has formed over the last week on the ETH Chart and on the 16th of October, the Price broke down through the neckline.
-As we speak the Price is moving back towards the Neckline for a re-test
-On the 4 Hour Chart, the Candles (so far) are getting smaller and smaller and the Candle Wicks are getting bigger indicating that there is a lot of Sell Pressure around this level
If this turns out to be a valid Pattern Formation the Profit Target is around 160$. Waiting for a Candle formation to give us a Setup for a potential Short Position.
Is this going to send the Price of ETH back down?
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