This one is looking like a pretty good textbook head and shoulders top.
A lot of people overuse this this pattern and apply it when it should not be done. The best H&S patterns are tops or bottoms, not mid-trend of middle of nowhere.
This one looks pretty good.
How bearish is it though? If we use that A-B top to bottom range for a measured move, it puts ETH in very pessimistic territory. With this market mindset, unless all us Hodlers out there change our thinking, it will not get there.
Take a look around that 3300-3600 area though. So many reasons for support. If you are waiting for a buy on dip opportunity, that might be it.
The new ‘Technical Rating’ indicator from TW is leaning towards the bearish side. (more good stuff on this indicator shortly).
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.