ETH Bounce forming a H&S

TradingView

Go PRO

Short

ETHXBT (KRAKEN:ETHXBT)

KRAKEN:ETHXBT ETHXBT

Eth loves 0.618 fib retraces. If this bounce goes as high as there, it'd make a nice head and shoulders pattern which might end up dropping to 0.01 (which is a good support)

man such a drop will be horrible, but ill be alert over .028 , what do you think could invalidate H&S scenario

zeratul600

frankly, h&s rarely plays out with cryptos so I'm more after the completion of the pattern around 0.023, not what would normally follow it (i.e. that massive drop)
I think if it goes above 0.031, we can rule it out.

You must look at the fundamentals of this as well. Remember Bitcoin is a calculator and ETH is a personal computer. This can get as big as bitcoin in terms of market cap. That's at least 60 dollars/ETH. I also notice it corrects and rises in 7 to 8 day continuity intervals.

How It Works

Features

For the WEB

Widgets

Community

Blog House Rules Moderators People Chat Chat History Press Referral Program Advertise

Tools and Features

GO PRO Stock Screener Forex Signal Finder Economic Calendar AppStore Stock Charting Library Trading Terminal Publishing & Social Tools Education

Support

Status Page Feature Request Help & Wiki FAQ Contacts Terms of Use Risk Warning Privacy Policy Cookies Policy

Trading Ideas

All Trend Analysis Harmonic Patterns Chart Patterns Indicators & Overlays Wave Analysis Gann Beyond Technical Analysis

Made with

From the creators of MultiCharts

Select market data provided by ICE Data services