ETHUSD - Head and Shoulders is likely forming on 1h
Updated
According to main indicators we might see Head and Shoulders pattern on 1h soon, need to wait for break confirmation on 1h + MACD down in next 2-5 hours at about $1135 level. Potential bounce zone for a head to the second shoulder $1100-$1110 to the $1140-$1145 with a free fly down to $1036 after $1090
Note
MACD and RSI are very close to tip the overbought zone, scenario will still be working, but I would wait for confirmation if we will see move down to 1100 and to the second shoulder lower than 1140 as confirmation for it.Note
No, that was completely wrong. Looks like we are forming double bottom with top on 40+
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.