ETH/USDT Next Move? Possible Reverse Head and Shoulder Pattern?
What's gonna be Ethereum's next move?
Scenario A - Currently ETH bouncing from 21MA support and trying to break the Resistance 1. If ETH breaks Resistance 1, Then we can see a pump towards Resistance 2 followed by a correction and then toward Major Resistance area. If the Major Resistance breaks then we will see a new ATH
Scenario B - If ETH fails to break Resistance 1 then we will see a Reverse Head & Shoulder pattern. Same as Scenario A we might see a rally towards ATH from the neckline.
This is not financial advice please DYOR. Also please be mindful the path lines were not predicted according to the timeline. So please don't take it literally and "expect" the price to move exactly on the lines. (Sorry can predict the pattern, not the timeline)
Lastly, manage your risk accordingly and place stop loss below the next Support.
Scenario A - Currently ETH bouncing from 21MA support and trying to break the Resistance 1. If ETH breaks Resistance 1, Then we can see a pump towards Resistance 2 followed by a correction and then toward Major Resistance area. If the Major Resistance breaks then we will see a new ATH
Scenario B - If ETH fails to break Resistance 1 then we will see a Reverse Head & Shoulder pattern. Same as Scenario A we might see a rally towards ATH from the neckline.
This is not financial advice please DYOR. Also please be mindful the path lines were not predicted according to the timeline. So please don't take it literally and "expect" the price to move exactly on the lines. (Sorry can predict the pattern, not the timeline)
Lastly, manage your risk accordingly and place stop loss below the next Support.