$ETH just made a lower high.
In doing so it also has the potential to form a head and shoulders.
Will this pattern result in a continuation upward or will it serve as a local top pattern with a correction before new ATHs?
Based on how overheated I think ETH and ETH/BTC are in the short term, I’m guessing it may form a short term top pattern, correct down a bit ($3500-$3800) and then bounce quickly and break out into all-time highs right after that.
I know it’s a bold call, but that’s what I see as being the most likely.
If ETH doesn’t break below that neckline then it’s likely to be a continuation pattern (direct move up).
