ETH/USD Triple Bottom Reversal with Three Legs Back Into The Low
ETH/USD set an initial low June 13 2022 with a triple bottom (Daily candle that completes the pattern July 16th 2022). The market has now worked back down into the low in 3 legs (or three pushes) as depicted.
Scenario 1: Market trades back into the low 1 last time in the $1085 area and reverses.
Scenario 2: The Head and Shoulders that is forming at the lows on a daily chart completes
Scenario 3: The previous 2 scenarios are incorrect and the market falls though the $1050 area and continues down to make new lows and I am wrong
Looking for entries on the 4H and 1H timeframe (Head and shoulders) (Double and Triple Top Patterns)
Would be looking to peel off profits at the high of the consolidation around the $2000 dollar area as a 1st take profit area, leaving a trailer in the market for a potential range expansion of the $1170 low and the $2000 dollar high. 2nd target would be $2850 and the third would be $3680 for 2 full expansions.
Scenario 1: Market trades back into the low 1 last time in the $1085 area and reverses.
Scenario 2: The Head and Shoulders that is forming at the lows on a daily chart completes
Scenario 3: The previous 2 scenarios are incorrect and the market falls though the $1050 area and continues down to make new lows and I am wrong
Looking for entries on the 4H and 1H timeframe (Head and shoulders) (Double and Triple Top Patterns)
Would be looking to peel off profits at the high of the consolidation around the $2000 dollar area as a 1st take profit area, leaving a trailer in the market for a potential range expansion of the $1170 low and the $2000 dollar high. 2nd target would be $2850 and the third would be $3680 for 2 full expansions.