First post so would be great to get some feedback.Is eth showing head and shoulders sign?
Comments
phlogistax
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Glad you're trying to put up some posts and join the community. I would say this is not even close to a H&S. Realize that these patterns are somewhat ambiguous and there is flexibility and subjectivity in their interpretation, but I would be looking for a far more prominent height of the head compared to either of the shoulders. In this case the left shoulder is actually higher than the head. The neckline doesn't make much sense either. I suggest you review the details of this charting pattern. The neckline you have highlighted is an important trendline though, and if it breaks, further downward price to around 10 and then around 8 to 8.50 will be pretty likely.
kukuman90
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Thanks for the feedback!
jx
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well, one can try to guess, but ... i think ETH price more dependent of Bitcoin price, rather on the ETH ...graph shape..