Traders,
I have a pretty good record for calling these inverse head and shoulders patterns before they are fully formed. I am not saying for sure Ethereum will form this inverse head and shoulders pattern but if it doesn't, then it will need to break above those resistance levels I have drawn and confirm. If it can't do this on the daily, then I have a hunch this inverse h&s will complete itself.
Ethereum leads the altcoin market rn. So, depending on where your bet lies, you may want to offset some risks and take profit here as we begin to consolidate/accumulate for another bull run.
Stew
I have a pretty good record for calling these inverse head and shoulders patterns before they are fully formed. I am not saying for sure Ethereum will form this inverse head and shoulders pattern but if it doesn't, then it will need to break above those resistance levels I have drawn and confirm. If it can't do this on the daily, then I have a hunch this inverse h&s will complete itself.
Ethereum leads the altcoin market rn. So, depending on where your bet lies, you may want to offset some risks and take profit here as we begin to consolidate/accumulate for another bull run.
Stew
Note
Update: A new neckline was recently formed with Ethereum's wick up. This pushes the Inverse H&S target up to over 5k should it complete:Note
Adjusted projected inverse right shoulder redrawn below:
Stewdamus Trades -
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Disclaimer
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.
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Related publications
Disclaimer
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.