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parissap
Jul 25, 2022 4:37 AM

ETH head and shoulders and correction to fib levels Short

Ethereum / TetherUS PERPETUAL CONTRACTBinance

Description

#ETH/USDT
ETH shaped a head and shoulders patten and price is still above neck line.

🐻 break down from neck line will drop price to 0.5 fib level around $1340.
price possible to continue its correction wave to lower fib levels..

🐮 rejection from neck line can increase price to $1640 and price stay in sideway zone and head and shoulders pattern will be invalid.

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Comments
JoeChampion
Good work!
parissap
@JoeChampion, thanks a lot 🌹
Solldy
That's a very interesting point of view. I think this scenario is possible for collecting liquidity, it would be very useful. And in the longer term, I'm looking at a price move in the other direction. Thanks for the hard work, mate)
parissap
@Solldy, agree with you, I think it can be just a correction and we can still make profit from higher prices, thanks buddy
HAMED_AZ
Great idea
parissap
@HAMED_AZ, thanks a lot dude 🌹🌹
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