Hi Guys,
ETHUSD on Binance is forming a classic head & shoulder pattern, with the second should completing.
Initially I had ETH as a buy around $644, however I think there is a possibility it may test lower levels at $600.
The MFI suggests people are starting to buy, and the Accumulation/Distribution is still quite high and trending up which suggests ETH is set to go higher that the current levels.
I would keep a close eye on ETH at $650-$670 and check the price movement. If ETH breaks from the $650 range, its next resistance may be around $800! $$$
I hope this helps you.
If you find this helpful, please support me: patreon.com/bcwizard
Disclaimer: I am not a financial consultant nor should you make any financial decisions based on my analysis. This is simply for learning purposes.
ETHUSD on Binance is forming a classic head & shoulder pattern, with the second should completing.
Initially I had ETH as a buy around $644, however I think there is a possibility it may test lower levels at $600.
The MFI suggests people are starting to buy, and the Accumulation/Distribution is still quite high and trending up which suggests ETH is set to go higher that the current levels.
I would keep a close eye on ETH at $650-$670 and check the price movement. If ETH breaks from the $650 range, its next resistance may be around $800! $$$
I hope this helps you.
If you find this helpful, please support me: patreon.com/bcwizard
Disclaimer: I am not a financial consultant nor should you make any financial decisions based on my analysis. This is simply for learning purposes.
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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.