BITFINEX:ETHUSD   Ethereum / U.S. Dollar
There's a wonderful inverse head and shoulders currently taking shape on the daily chart . IH&S patterns are trend reversal, breakout patterns.

If the price runs up the right shoulder, consolidates, and breaks above the neckline on the other side. That would be taken as a confirmation of trend reversal.

However, one should keep in mind that this is a long forecast and would not be confirmed until 7/19.

Tenkan/Kijun are both ranging meaning less volatility /momentum.

My TRIX is smoothed out to have very accurate buy signals. We currently see a bull cross taking place for a buy which further confirms this chart pattern.

Stochastic RSI would need to continue it's rise, test the resistance at ~80 before bouncing off support at 34.
Comment: Pattern confirmation should take place in the next 48 hours.


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