Here You can see how the patterns on BTC as well. As the pattern's change, a trend changes. We used to refer to these as Grim Reapers when some of the first consistent patterns were introduced to the market shortly after futures were released. There was an incredible consistency to repeat likely brought on by new algorithms introduced, but it legit looked like it was an effort to draw them on the charts because sometimes it was so clear that a head and shoulder pattern (hood) and a scythe would follow. I wouldn't put too much stake in using the patterns to trade off from, as it's a bit of a ten thousand foot view. But it can help you understand if the coin is bullish or bearish, or if you're in a trap, and it can help you gauge where you're heading overall as the pattern likes to finish before creating a new one of a new size. If you look long enough, you'll see all these patterns are patterns inside patterns as well. It doesnt guarantee repetition of them of course, but when it doesnt repeat, you can bet theres a change in overall behavior or trend.
RE: Ethereum pattern revisted, strap in for profits