ETHUSD Reverse head and shoulders - breakout approaching
Updated
ETHUSD
Over tthe last 24 hours or so ETH has, like Bitcoin itself, made
a reverse head and shoulders formation with a neckine at 690
and a minimum upside target at 886. Can buy on that
breakout which should lead to a rally to 721 where it can
come off again back to the neckline at 690 which must then
hold up on the retest if we see one. Then once 722 is
breached it should push higher to the target at 886 - however
the old high at 862 may well prove a better point here.
But in near term, until ETH can find the buyers to make this
break it remains vulnerable to sellers
Over tthe last 24 hours or so ETH has, like Bitcoin itself, made
a reverse head and shoulders formation with a neckine at 690
and a minimum upside target at 886. Can buy on that
breakout which should lead to a rally to 721 where it can
come off again back to the neckline at 690 which must then
hold up on the retest if we see one. Then once 722 is
breached it should push higher to the target at 886 - however
the old high at 862 may well prove a better point here.
But in near term, until ETH can find the buyers to make this
break it remains vulnerable to sellers
Note
Buy this dip to 700 with stop 20 points lowerNote
Eth will move with Bitcoin this weekend...Bitcoin is trying right now to break the last big resistance between here and the highs - when it does Eth will fly too...
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