After we had some sell pressure come into the market near the $3000 price point. We identify a possible Head and shoulders pattern that may be looming. If price returns to the blue area to line up with the "left Shoulder" then we will be looking for any sort of bearish price action confirmation. In this case, first target would be aimed towards the neckline...
Ethereum has been on a downtrend for the higher-timeframe. Price had broke the bearish trendline to the upside before selling at the ending of previous week. We are anticipating a retest of the trendline to continue bullish (Buy-side scenario). If price breaks support then we can see more sell pressure (Sell-side Scenario). Read and React!
We posted our trade idea for Ethereum on 2/20/22 and here is the update. Price did broke the support zone for the short bias when the News regarding Russia vs Ukraine and retested the trendline that we marked up earlier in the week before going bullish. If you were following the trade idea that was sent earlier this week. Please leave some feedback if you were...