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! $$$
I hope this helps you.
If you find this helpful, please support me: www.patreon.com/bcwizard
Disclaimer: I am not a financial consultant nor should you make any financial decisions based on my analysis. This is simply for learning purposes.
ETHUSD on Binance is forming a classic head & shoulder pattern, with the second should completing.
Initially I had ETH as a buy around $644, however I think there is a possibility it may test lower levels at $600.
The MFI suggests people are starting to buy, and the Accumulation/Distribution is still quite high and trending up which suggests ETH is set to go higher that the current levels.
I would keep a close eye on ETH at $650-$670 and check the price movement. If ETH breaks from the $650 range, its next resistance may be around $800! $$$
I hope this helps you.
If you find this helpful, please support me: 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.
