A Bearish Ether Fractal Resurfaces As Ethereum's Price Struggles To Break Above $2

in gjdkhls •  last year 

At $2,500, Ethereum is now trading, and the decline has been severe.

It was about $4 when I previously reported about this bearish ether fractal pattern (ETFR). Amazing what a few weeks can do.

Candlestick reversal signals create patterns called ETFRs, which foretell a market breakdown and decline to come. The bearish four countdown pattern, which forms when four candlesticks with relatively high closing create a downward triangle to signal the start of a decline and eventual breach below that level, is one of the most popular instances. The basic guidelines for a bearish ETHFR are as follows:

  1. It begins with two sets of three candlesticks (a three up-and-in pattern), then a single candle that shuts below both of the preceding candles;

  2. The third candle, which closes above the previous two, produces an upward continuation pattern (an up-and-in);

  3. After closing above the two preceding candles, the fourth candle makes an additional upside continuation pattern known as a up-and-in;

An upward continuation pattern (an up pattern) is formed by the fifth candle.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!