Inverse H&S
Updated
Inverse Head & Shoulders pattern printing on the sell the news event on Ethereum ETF as it starts to trade.
Validation of the Inverse H&S is on breakout of the neckline at $3451 (+/- 30$) on high volume and preferable later a retest of the neckline as support
The invalidation of the Inverse H&S is a candle close below $2930. We might go there as Grayscale probably will bleed a lot from their high fee ETH trust.
Target: At $4069 that coincides with highest price of the year
Validation of the Inverse H&S is on breakout of the neckline at $3451 (+/- 30$) on high volume and preferable later a retest of the neckline as support
The invalidation of the Inverse H&S is a candle close below $2930. We might go there as Grayscale probably will bleed a lot from their high fee ETH trust.
Target: At $4069 that coincides with highest price of the year
Comment
We are now at support zone...Starting to print Bullish Divergence on the daily chart... ETH might actually be bottoming out against the dollar.
lets se what the next week have to offer, a lot of fear in the market right now
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