A Bearish Ether Fractal Resurfaces As Ethereum's Price Struggles To Break Above $2
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:
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;
The third candle, which closes above the previous two, produces an upward continuation pattern (an up-and-in);
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.