DigiLex_LLC

Potential Bearish H&S Forming ETH/USD

Short
BYBIT:ETHUSD   None
I'm looking at a potential bearish head and shoulders forming here where the target would bring us back down to re-test the neckline of the macro W that we had broken out from. We could end up in a giant range where we go all the way back down to ~$1700 and make another W and then come all the way back up near 4k again - maybe the institutions are just going to keep recycling the price action within this range so they can keep buying the bottom and selling the top to make a bunch of money. That's what I would be doing if I were them. This is complete speculation but if this head & shoulders actually happens, there's an even bigger macro bearish head and shoulders that would target a much lower level potentially. Let's see how it plays out. Personally I was hoping to see ETH over $10k this cycle

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