I Think I am obsessed with H&S formations Because If I would have noticed the H&S forming when ETH hit $1224 I would not have lost %40 of my assets, but since then I have been catching them pretty regularly and have been able to predict within $5 of the bottom. Now it is way too early to Tell, but it looks like we are going to have a Head and shoulders complete at the 15 minute Time frame that would cause us to Drop to About $834 Which would complete the Head and start the Right Shoulder @ the 1 Hour Time Frame. If the H&S completes @ 1 Hour Level It will Drop the price to somewhere around $790 which will finish off the Head of the H&S or Triple Tops at the 4 hour timeframe. With the way things have been going with ETH I believe if we do not break the $780 Resistance level these H&S formations will play out and we will hit a new bottom in the $600 - $650 Range. That being said I believe the ultimate bottom won't go below $575. We are reaching an end to the triangle of resistance and Support. One of them is going to loose and I think it will be the resistance. If we drop one more time I believe we will be heading to a new All Time High.
Now this is in no way trading advise. Please trade carefully. I just thought I would share what I am seeing and hopefully keep someone else from losing the way I did.
Comment
⋅
Looks Like Elliot Wave will be confirming the H&S @ the 15 Minute Level We Will Just Have to Watch and See