{"id":473489,"date":"2022-07-13T11:17:08","date_gmt":"2022-07-13T08:17:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin\/"},"modified":"2022-07-13T11:17:08","modified_gmt":"2022-07-13T08:17:08","slug":"ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin\/","title":{"rendered":"# Ethereum price risks &#8216;bear flag&#8217; breakdown, 20% drop against Bitcoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2719b380616\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2719b380616\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin\/#%E2%80%9D_Ethereum_price_risks_%E2%80%98bear_flag_breakdown_20_drop_against_Bitcoin_%E2%80%9C\" >&#8221; Ethereum price risks &#8216;bear flag&#8217; breakdown, 20% drop against Bitcoin  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin\/#Ethereum_price_risks_technical_breakdown\" >Ethereum price risks technical breakdown<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin\/#Looks_like_%E2%80%9Cactual_death%E2%80%9D\" >Looks like &#8220;actual death&#8221;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-risks-bear-flag-breakdown-20-drop-against-bitcoin\/#Ethereum_funds_witness_modest_inflows\" >Ethereum funds witness modest inflows<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_price_risks_%E2%80%98bear_flag_breakdown_20_drop_against_Bitcoin_%E2%80%9C\"><\/span>&#8221; Ethereum price risks &#8216;bear flag&#8217; breakdown, 20% drop against Bitcoin  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Ethereum&#8217;s native token, Ether (ETH), is down nearly 40% against Bitcoin (BTC) since December 2021. But even more pain is possible for the ETH\/BTC pair in the coming weeks, based on a classic technical indicator.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_price_risks_technical_breakdown\"><\/span>Ethereum price risks technical breakdown<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The ETH\/BTC chart has been forming a bear flag\u00a0since early June 2022 on the three-day timeframe. <\/p>\n<p>In detail, bear flags are considered bearish continuation patterns that form as the price consolidates higher inside a range defined by two ascending, parallel trendlines after a sharp decline. They resolve after the price breaks below the lower trendline, i.e., in the direction of its previous downtrend.<\/p>\n<p>As a rule of technical analysis, a bear flag&#8217;s downside target comes to be at the length equal to the size of the previous downside move. Lately, ETH\/BTC has been eyeing a similar breakdown, with its profit target sitting around 0.0439, down almost 20% from today&#8217;s price.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/d6b12cf1-0b68-4d28-9d17-e063c54cbf26.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC three-day price chart featuring &#8220;bear flag&#8221; pattern. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Nonetheless, bear flags have an average success rate of around 67% when it comes to meeting its profit targets, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/samuraitradingacademy.com\/7-best-price-action-patterns\/#:~:text=Bear%20Flag%20Pattern%20(67.72%25%20Success,after%20a%20strong%20trending%20move.\">Samurai Trading Academy&#8217;s study<\/a>. Additionally, veteran analyst Tom Bulkowski sees the bear flag <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thepatternsite.com\/flags.html\">meeting its target<\/a> only 46 times out of 100 attempts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Looks_like_%E2%80%9Cactual_death%E2%80%9D\"><\/span>Looks like &#8220;actual death&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A separate technical setup shared by analyst Pentoshi shows Ether facing the possibility of falling much lower than bear flag&#8217;s profit target.<\/p>\n<p>Pentoshi suggests that ETH\/BTC could dip toward an ascending trendline that has been serving as its support since September 2019 \u2014 the level comes near 0.036, down 30% from today&#8217;s price.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> looks like actual death is at the doorstep <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/giJJgUDdzJ\">https:\/\/t.co\/giJJgUDdzJ<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/NBEzWDx2Ks\">pic.twitter.com\/NBEzWDx2Ks<\/a><\/p>\n<p>\u2014 Pentoshi  (@Pentosh1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1546860636998606850?ref_src=twsrc%5Etfw\">July 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_funds_witness_modest_inflows\"><\/span>Ethereum funds witness modest inflows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bearish setups for ETH\/BTC <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears in contrast with a potential recovery across Ethereum-based investment funds.<\/p>\n<p><strong><em>Related:\u00a03 key metrics suggest Bitcoin and the wider crypto market have further to fall<\/em><\/strong><\/p>\n<p>In detail, Ethereum funds amassed $7.6 million in the week ending July 8, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinshares.com\/research\/digital-asset-fund-flows\">CoinShares&#8217; latest report<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/33c9a95e-50fe-4719-b141-379f04383621.png\"><figcaption style=\"text-align: center;\"><em>Net U.S. dollar flows into\/out of crypto-based funds (by asset). Source: CoinShares\/Bloomberg<\/em><\/figcaption><\/figure>\n<p>&#8220;The inflows suggest a modest turnaround in sentiment, having endured 11 consecutive weeks of outflows that brought 2022 outflows to a peak of $460 million,&#8221; the report notes, adding:\u00a0<\/p>\n<blockquote><p>&#8220;This improvement in sentiment is may be due to the increasing probability of the Merge, where Ethereum moves from proof-of-work to proof-of-stake, happening later this year.&#8221;<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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But even more pain is possible for the ETH\/BTC pair in the coming weeks, based on a classic technical indicator. Ethereum price risks technical breakdown The ETH\/BTC chart&#8230;<\/p>\n","protected":false},"author":1,"featured_media":473490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvNjY5N2ExYWMtOGE5Yi00ZjlkLTg2OTItY2VjZTQxNjUxNjAzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74937,82402,74891,75326,74938,74939,74876,75578,71939,73711,73785],"class_list":["post-473489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-market-analysis","tag-proof-of-stake","tag-proof-of-work","tag-banks","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/473489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=473489"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/473489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/473490"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=473489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=473489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=473489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}