ETHUSDT (2H - Binance) pair shows interesting setup of H&S and Potential Cypher.
Measured move of H&S coincides with Potential Cypher formation, indicating price may go low as $419.
Then it may run back up to 78.6% retracement to complete the Cypher.
If price just makes low to 113 extension rather than 127 extension then that could turn this into potential Shark rather than Cypher.
Measured move of H&S coincides with Potential Cypher formation, indicating price may go low as $419.
Then it may run back up to 78.6% retracement to complete the Cypher.
If price just makes low to 113 extension rather than 127 extension then that could turn this into potential Shark rather than Cypher.
Note
Cypher highlighting correctedNote
cypher or shark formation
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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.