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Dale_G
Mar 21, 2022 4:40 PM

ETHBTC Weekly Chart- Current patteen 

Ethereum / BitcoinBinance

Description

Head and shoulders pattern with retests of major trend line. This happened multiple times recently on bitcoin daily-weekly showing distribution which I would post as an example but I can’t on mobile.

Apologies on the complicated drawing but the test of the major trend line are the key points. Almost every time I’ve seen this distributive pattern in results in a bearish move like it is taught.
Comments
Dale_G
Again apologies for the toaster level drawing.
Dale_G
Theoretical approach would be long until the direct ping and if it closes as a rejection then you enter short with two potential outcomes as the arrows indicate.
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