⚠️ ETH Intraday Trend Reversal ❗️
I rarely trade chart patterns, I find them extremely unreliable especially in crypto. However notable exception is head and shoulders which in my experience is quite useful even on lower time frames.
So today on 5 min and 15 min $ETH I suspect head and shoulders pattern formation. Additional factors which add details to the picture are two important levels: previous week high around 2670 (I usually consider week start in the Monday afternoon or even Tuesday morning), and important psychological and historical level of 2700.
If you feel adventurously you can try short right now, I wouldn’t recommend it though, I’ll likely wait until tomorrow or at least until extra confirmation.
$BTC and $SOL seem to be downtrending already.
#MarketDownturn
I rarely trade chart patterns, I find them extremely unreliable especially in crypto. However notable exception is head and shoulders which in my experience is quite useful even on lower time frames.
So today on 5 min and 15 min $ETH I suspect head and shoulders pattern formation. Additional factors which add details to the picture are two important levels: previous week high around 2670 (I usually consider week start in the Monday afternoon or even Tuesday morning), and important psychological and historical level of 2700.
If you feel adventurously you can try short right now, I wouldn’t recommend it though, I’ll likely wait until tomorrow or at least until extra confirmation.
$BTC and $SOL seem to be downtrending already.
#MarketDownturn
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ETH
3,396.67
-2.45%
Replies 0
