Head and shoulders pattern on the Ethereum day frame?
Hi everyone, it's me again. So today I will give an idea about ETH. In the short term now, on the 4H frame you can see that the price is trading above ema 34 and ema 89 but on the daily frame the price is still trading sideway ema 34 and ema 89, so there will be two ways happen. First, if the price of ETH trades for the next few days on ema 34 and 89 (Daily frame) and continues to go up and break ATH $4875 then the bull cycle will continue. But if the price continues to trade below ema 34 and 89 and breaks the trendline at 3700$ (now there will be a head and shoulders pattern) it will probably find the old support at 3500$ or maybe 2700$. Even worse, it can find the strongest support of the Weekly frame at $1700.
Not investment advice. Personal opinion. Invest at your own risk.
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Not investment advice. Personal opinion. Invest at your own risk.
Finally, if you like my ideas, you can click follow on my tweet and my trading view so I can come up with many new ideas for you to follow more conveniently. Thank you for your support.
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