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The Ethereum price is in a bearish trend! And on the 4-hour timeframe, we are seeing a massive Head and Shoulders Pattern play out.
If this bearish pattern plays out exactly, there is a very high probability that we might see a massive 15% dump in the value of Ethereum in the coming days.
In this Ethereum analysis, we will be going lower in timeframe and talking about the bearish Flag Pattern that is currently playing out right now in the 15 minutes and how this pattern could be a great indication of a coming aggressive sell-off for Ethereum soon.
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ETH Bearish Flag Pattern!
The bearish Flag Pattern is a unique price action pattern that indicates a possibility of a coming aggressive sell-off about to happen. The image above is what a completed Bearish Flag Pattern looks like.
When you compare that image with the current price action developing in the ETH 15-minute timeframe, we see a lot of similarities.
So in the coming days, we will be keeping a close eye on this bearish flag pattern development to see if it will carry on to the end and sell off exactly as we are predicting.
Final Verdict!
We are still very bearish on Ethereum. Right now, we are tracking a bearish flag pattern currently forming in the lower timeframes.
This lower timeframe pattern also plays out with our overall bearish bias on Ethereum and in the coming days, we believe there is a very high probability it plays out.
So for now, we will be keeping a close eye on this bearish flag pattern to see how it develops.
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