New Thesis on ETHBTC
Points to consider,
- Potential Inverse head and shoulders playing out on the 1hr time frame
- 12 EMA riding as support in to strong resistance, this needs to break for the head and shoulders pattern to be confirmed
- RSI on uptrend with strong support
- Volume declining on right shoulder
- VPVR showing low volume of...
So there's a H&S-ish looking pattern going on here. However, I am not 100% sure, as this looks a bit distorted.
Then there's also a rising wedge at the same time, which tells a higher probability for downside as well.
But as the last times BTC just wonderfully ignored any TA, I am not sure myself this time.
BTC maybe wants to make it look as if an imminent...
I dont see the 1 day 50 ma (in orange dipping lower than this horizonttal red support line before the bottom is confirmed on xrpbtc. I expect it to start making gains against btc once the golden cross s confirmed.
On the 1hr chart it looks like CHFHUF is forming a Head and Shoulder pattern, what would confirm a reversal at the resistance shown on the right daily chart .
A strong resistance on the right daily is tested with the head of this potentially H&S .
The combination of these makes this a great R:R trade to try, even if this is not forming an H&S there is still...
Possible head and shoulders formation on XRP. I'll be looking for a break below the neckline, to enter a short and target the 0.39 region. Fib extension and golden pocket retracement zones seem to be a good landing zone. Wait for confirmation!
Ethereum is being pressured by two opposing forces. The breakout upwards from the blue triangle created a strong support line (the horizontal blue line), but it quickly encountered strong resistance at the level of the dotted blue line. This was the point at which Ethereum broke downwards last November.
Now it has formed a Head & Shoulders pattern which would...