Blocksmith Says: Expect Sharp ETH Downside

18 November 2022

A short note for end of week as no meaningful change in macro and crypto analysis stance.  ETH at hourly level almost certainly in a triangle pattern, which should resolve sharply to the downside. A downside triangle comes immediately after a strong and swift price decline. 

Its direction of travel is sideways and there are always 5 distinct 3 wave sections. We label them A to E and we are, I believe, in the final E wave now.. When the triangle is finished, it goes in the same direction as the move into it. Down in this case.

Blockhead Team
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