Etherium: $2000 next according to this pattern.

Hello all. Looking at ETHUSD on the 4HR timeframe we see a formation of descending symmetrical channel and the price attempting to reach the center of the channel to retest the descending line of support.

The top of this pattern sits at $2000 mark which in addition with the bottom line of the falling wedge pattern (daily timeframe), and the fibonacci retracement golden pocket, is the resistance level of the pattern. This level is also a big psychological level and the level which i believe etherium will retest once again before any further drop down.

Although the current price is below the 4HR 50 EMA and the 4HR Stochastic RSI is in the overbought territory, we can anticipate a 12% move up if the price hits the top of this pattern.

Thanks for reading, and stay tuned. Enjoy.