ETHBTC: H & S formation , Recovery and Watch Neckline Long

Ethereum / BitcoinBitstamp

Description

⋅ Oct 16, 2017 8:34 AM

On 4h chart of ETHBTC, there is a potential H&S pattern, target to price labels above, with relative weak MACD momentum hints a recovery

See if price can stand above neckline and buy dip.

Comment

⋅ Oct 20, 2017 12:53 AM

Capped by downside sma, pattern fails, BTC seems stronger recently.

Buy strong, sell weak

Chart Patterns

Comments

nginx

⋅ Oct 17, 2017 6:32 AM

I think it's a bit of a stretch to call it a inverted H&S. The head did not even complete before breaking down.

Trader-VincentH

⋅ Oct 17, 2017 8:58 AM

@nginx, yeah, thus I said it a potential one. Patterns won't be finished as textbook said sometimes.Watch and wait for confirmation reversal signals before buying.