Ethereum
Head and Shoulders - Bearish Reversal Pattern
Entry: <$163
Take Profit: <$150
Stop Loss: $170
One-month parabola into the daily 200-EMA (or 2400-EMA on the two hour timeframe) comes to an end without significant pullback, thus far. However, a H&S has formed here, which looks better on some exchanges than others, but the pattern structure is clear. The descending volume profile is also clear across all exchanges. When the H&S neckline breaks, volume should increase dramatically.
Support confluence at $150 includes:
- VPVR node
- Monthly Pivot
- Measured Move
- 50% retracement of parabola high to low
- Psychological Support
Head and Shoulders - Bearish Reversal Pattern
Entry: <$163
Take Profit: <$150
Stop Loss: $170
One-month parabola into the daily 200-EMA (or 2400-EMA on the two hour timeframe) comes to an end without significant pullback, thus far. However, a H&S has formed here, which looks better on some exchanges than others, but the pattern structure is clear. The descending volume profile is also clear across all exchanges. When the H&S neckline breaks, volume should increase dramatically.
Support confluence at $150 includes:
- VPVR node
- Monthly Pivot
- Measured Move
- 50% retracement of parabola high to low
- Psychological Support
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