Will ETH follow H&S formation? Get ready for price action!
First of all, I would like to start with a sincere thank you to all of my followers. I have received a ton of messages from people asking what happened and why all of the sudden my posts stopped. I am well and healthy, thanks 🙏 Just had a really busy week and in situations like these, we sometimes have to make a hard call on what to prioritize. Our Data Money community continues to grow and is active regardless. I am very pleased to see that people are continuing to make a profit albeit TA's turned to be a more difficult part.
Back to business
Crypto markets have been very active last weekend and we have an exciting start of the week. Macro-level data suggest a formation of head and shoulders pattern, it is likely that we will see nice price action throughout the week opening opportunities for quick profitable long and short opportunities. At a micro level, at the moment price is struggling between ETH $1750 and $1730. ETH price has to break below $1730 to continue on H&S pattern. Please keep in mind that ETH $1750 is a psychological number and $1730 formed strong support next to it. It may again put ETH into a box of "too many constraints" that can send the market into another few days of limbo.
Today's technicals:
Position is neutral. Our recommendation is to long the dip and exit before it hits the top for H&S continuation. Data Money fans with early access already know that we have opened long positions at ~$1730 this morning 💸
Forecasted highs at ETH $1830 and unlikely $1890
Mid-way point moved down to $1820
Forecasted lows at $1730, $1700 and a must buy $1660
Have a great start of the week! 🤑
If you would like to have early access to Data Money ETH technical analysis write "I like Data Money! ETH price will go up!" or "I like Data Money! ETH Price will go down!" in the comments down bellow 😉
Back to business
Crypto markets have been very active last weekend and we have an exciting start of the week. Macro-level data suggest a formation of head and shoulders pattern, it is likely that we will see nice price action throughout the week opening opportunities for quick profitable long and short opportunities. At a micro level, at the moment price is struggling between ETH $1750 and $1730. ETH price has to break below $1730 to continue on H&S pattern. Please keep in mind that ETH $1750 is a psychological number and $1730 formed strong support next to it. It may again put ETH into a box of "too many constraints" that can send the market into another few days of limbo.
Today's technicals:
Position is neutral. Our recommendation is to long the dip and exit before it hits the top for H&S continuation. Data Money fans with early access already know that we have opened long positions at ~$1730 this morning 💸
Forecasted highs at ETH $1830 and unlikely $1890
Mid-way point moved down to $1820
Forecasted lows at $1730, $1700 and a must buy $1660
Have a great start of the week! 🤑
If you would like to have early access to Data Money ETH technical analysis write "I like Data Money! ETH price will go up!" or "I like Data Money! ETH Price will go down!" in the comments down bellow 😉
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.