Now, before anything else: I'm no expert by any means and my experience with models is close to 0. But, while my gut feeling says ETH is going to break through the 630 resistance area and move up, are we not actually looking at an ugly H&S and ETH will drop to the 520 region, back into the 'normal' range (indicated by yellow lines)? In short: shouldn't we sell?
Note
It seems as if there's a fair amount of support around the 570 mark and a new resistance around 600. I'm still very curious what way the market will evolve:1) Break through the 600 and go up
2) Continue moving sideways for another bit...that feels illogical but I cannot really argumentate why.
3) Break through the support of 570 and go further down to the next point of resistance around 520.
I've updated the chart a bit:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.