As much as I love ETH, Bitcoin still holding that 40k support is far more important for ETHs future price. If it spends a week below 40K that then I'll start shitting my pants. Getting pretty close though...
On the left is shoulder / head / shoulder
On the right is shoulder / head / shoulder
This second H&S formation has a wick bottom of 39.7k.
2nd shot red is overheated and green is capitulation. We are skirting the boundary of capitulation.
I’d much prefer to see us in green at 40k rather than stand at the edge of the abyss 😬
I’m still expecting an exit pump which will go towards 49k-50k.