Don't teach blindly if you don't understand. In a head and shoulders pattern, the left should be higher than the right. You need to look at longer time frames; the weekly chart is very healthy.
达尔文
Jan 11
$ETH
ETH Price Analysis: Head and Shoulders Pattern Forming, Bears Are Waiting for an Opportunity!
Brothers, the current trend of ETH is a bit dangerous, having formed a head and shoulders pattern. Once it breaks below and closes under the neck line, bears may reap significant rewards. However, since the neck line is sloping upwards, the reliability of this bearish pattern is slightly lower, but we cannot let our guard down; risks still exist!
Bears in Control: Risk Increases Below the Neck Line ETH is currently pressured by the 20-day moving average at $3435, along with the RSI continuing to decline, showing that bears clearly have the upper hand. Downside Risk: If the price retreats from the current levels or near the 20-day moving average and breaks below the neck line, ETH may quickly drop to $2825. Key Support: The neck line position is crucial; if broken, bears may accelerate the decline.
Bulls Counterattack: Breakthrough the 20-day Moving Average to Turn Crisis into Safety Although the pattern is leaning bearish, bulls are not without opportunities! If they can pull the price back above the 20-day moving average ($3435), ETH may launch a counterattack: Short-term Target: The price will have the opportunity to push towards the level of $3744. Bullish Signal: Breaking above the 20-day moving average will be key for bulls to reverse the situation, indicating that market sentiment may begin to warm up.
Bearish Scenario: Break Below the Neck Line If ETH breaks below the neck line and closes under it, bears may take full control of the situation, targeting $2825. Trading Strategy: Wait for the price to confirm a break below the neck line before opening a short position, with a stop loss set above the neck line.
Bullish Scenario: Breakthrough the 20-day Moving Average If ETH strongly breaks through and stabilizes above $3435 (20-day moving average), a short-term bullish trend is expected to unfold, with a target looking towards $3744. Trading Strategy: Wait for a valid breakout before following up with a long position, with a stop loss set below the 20-day moving average.
Currently, bears dominate ETH, but bulls still have the potential to counterattack around the $3435 level. The neck line position will be the barometer for the upcoming market trend.
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