Ethereum: Trend Reversal Chat Pattern

Does this chart pattern look like Head&Shoulders? What do you think? Share your ideas in comments, let's discuss them!

For me, I can say that the market forms Head&Shoulders chart pattern. It is not confirmed yet. But if the price breaks the neckline, the pattern will be confirmed, and we will get a trend reversal signal. The main target for sellers will be the zone at SMA20 and the uptrend line.

We should be ready to see the correction movement, and it can take weeks.

If the price bounces from the neckline, it will be a bullish signal. The breakout above the right shoulder will change the whole picture from bearish into bullish. The market will be ready to move upward to the local market high at 180.00 level.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.