Ethena Signals Recovery Through iH&S Pattern (When Bullish?)
It is early here, because the pattern is not complete as you can see, but what is forming is the inverted Head & Shoulders pattern which is a reversal signal.
Say the pattern fails to be completed, meaning a reversal at the neckline (resistance line) and we get lower prices (red arrow). This lower prices would still be followed by a strong bullish wave in the short- to mid-term (blue arrow).
So this is bullish chart setup overall and this is what we mean always when mentioning the long-term.
Since the market has been bearish for a long while, a reversal is now upon us. This reversal can take a few days or a few weeks to fully develop but it is happening, as many pairs are already full green. The rest will follow. Some take longer than others, some much longer but the general market bias will soon be up.
Even if we were to experience a flash crash or one major leg-down this can unravel all in a matter of days or weeks, so we are good when we think in terms of months.
Put it this way, regardless of what happens short-term, October & November, we are super bullish after November and this super bullishness can last a long time.
➖ We are bullish very likely by mid-November 2024.
➖ We are bullish in December 2024.
➖ We are definitely bullish in early 2025 and all throughout 2025.
Thanks a lot for your support.
Namaste.
Say the pattern fails to be completed, meaning a reversal at the neckline (resistance line) and we get lower prices (red arrow). This lower prices would still be followed by a strong bullish wave in the short- to mid-term (blue arrow).
So this is bullish chart setup overall and this is what we mean always when mentioning the long-term.
Since the market has been bearish for a long while, a reversal is now upon us. This reversal can take a few days or a few weeks to fully develop but it is happening, as many pairs are already full green. The rest will follow. Some take longer than others, some much longer but the general market bias will soon be up.
Even if we were to experience a flash crash or one major leg-down this can unravel all in a matter of days or weeks, so we are good when we think in terms of months.
Put it this way, regardless of what happens short-term, October & November, we are super bullish after November and this super bullishness can last a long time.
➖ We are bullish very likely by mid-November 2024.
➖ We are bullish in December 2024.
➖ We are definitely bullish in early 2025 and all throughout 2025.
Thanks a lot for your support.
Namaste.
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