End of the head and shoulder, approaching last support line
After failing to hit wave 5 the head and shoulder was formed.
ETHUSD
is now currently sitting at the 840 support line. Remember the downward trend tends to match the neckline to the highest point of the middle of the head and shoulder. We may see hit the next support line before possible bouncing back to the .50% retracement.
ETHUSD
is now currently sitting at the 840 support line. Remember the downward trend tends to match the neckline to the highest point of the middle of the head and shoulder. We may see hit the next support line before possible bouncing back to the .50% retracement.
Trade geschlossen: Ziel wurde erreicht
Resistance: 970
Support: 860
Resistance and support will be tested throughout the week. I believe we are still in a bearish market, after resistance is hit I see another downtrend back to the descending channel.