ETH to possibly form head and shoulders.
ETHUSDT - Intraday - We look to Sell at 1855.6 (stop at 1908.2)
A bearish Head and Shoulders is forming.
In line with the possible early stages of a head & shoulders pattern and the strong rejection of gains, we look to set shorts in anticipation of a swing lower.
Bespoke resistance is located at 1860.0.
Daily signals for sentiment are at overbought extremes.
A lower correction is expected.
Our profit targets will be 1701.1 and 1661.2
Resistance: 1800.0 / 1840.0 / 1900.0
Support: 1750.0 / 1700.0 / 1620.0
A bearish Head and Shoulders is forming.
In line with the possible early stages of a head & shoulders pattern and the strong rejection of gains, we look to set shorts in anticipation of a swing lower.
Bespoke resistance is located at 1860.0.
Daily signals for sentiment are at overbought extremes.
A lower correction is expected.
Our profit targets will be 1701.1 and 1661.2
Resistance: 1800.0 / 1840.0 / 1900.0
Support: 1750.0 / 1700.0 / 1620.0
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