ETH/USD Mini Head and shoulders forming?

Position: Leaning Bearish

Ethereum is having a similar formation to BTC , which is not surprising. When looking at the 4 hour chart, we have a potential mini head and shoulders pattern forming. It has pushed up and hit this trend line multiple times and failed to break upwards. In order for this pattern to hold any validity, we need it to break down below this support line at the $795-800 area. If it pushes below that we would get a push down further.

This analysis is a BIG IF. If it breaks down, we could see one of the scenarios that I drew in the chart play out, there will be a bounce off of the 600 area, but will it just move down again? Or will it break that small upward trendline and head up? A lot of unknown variables at this point. I will be keeping my eye on this one to see if it start breaking down and what to look for to get back in. Because this thing has the potential to break down ALL THE WAY to the 350 area, a martingale strategy is vital. If you go in heavy at 600, make sure you watch those zones with caution. My points I will start entering is 730, 630, 511, 430 and down at the 350 areas. (If you don't know what a martingale strategy is, BE SURE to read up on it.)

Happy Trading,

ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 发送反馈 已发表观点 粉丝 正在关注 私人消息 聊天 退出