arjanp100

ETH Ethereum is clearly forming a Head & Shoulder Pattern!

Long
COINBASE:ETHUSD   Ethereum / U.S. Dollar
Hi Guys,

ETHUSD on Binance is forming a classic head & shoulder pattern, with the second should completing.

Initially I had ETH as a buy around $644, however I think there is a possibility it may test lower levels at $600.

The MFI suggests people are starting to buy, and the Accumulation/Distribution is still quite high and trending up which suggests ETH is set to go higher that the current levels.

I would keep a close eye on ETH at $650-$670 and check the price movement. If ETH breaks from the $650 range, its next resistance may be around $800! $$$

I hope this helps you.

If you find this helpful, please support me: https://www.patreon.com/bcwizard


Disclaimer: I am not a financial consultant nor should you make any financial decisions based on my analysis. This is simply for learning purposes.

Comments

Helpful TA sir, thank you!
Reply
arjanp100 Trader_EL1
@ehab.allahham, Thank you Ebah... Im glad I can help!
+1 Reply
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