Will ETH follow H&S formation? Get ready for price action!

First of all, I would like to start with a sincere thank you to all of my followers. I have received a ton of messages from people asking what happened and why all of the sudden my posts stopped. I am well and healthy, thanks 🙏 Just had a really busy week and in situations like these, we sometimes have to make a hard call on what to prioritize. Our Data Money community continues to grow and is active regardless. I am very pleased to see that people are continuing to make a profit albeit TA's turned to be a more difficult part.

Back to business
Crypto markets have been very active last weekend and we have an exciting start of the week. Macro-level data suggest a formation of head and shoulders pattern, it is likely that we will see nice price action throughout the week opening opportunities for quick profitable long and short opportunities. At a micro level, at the moment price is struggling between ETH $1750 and $1730. ETH price has to break below $1730 to continue on H&S pattern. Please keep in mind that ETH $1750 is a psychological number and $1730 formed strong support next to it. It may again put ETH into a box of "too many constraints" that can send the market into another few days of limbo.

Today's technicals:
Position is neutral. Our recommendation is to long the dip and exit before it hits the top for H&S continuation. Data Money fans with early access already know that we have opened long positions at ~$1730 this morning 💸
Forecasted highs at ETH $1830 and unlikely $1890
Mid-way point moved down to $1820
Forecasted lows at $1730, $1700 and a must buy $1660

Have a great start of the week! 🤑


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