ETH/USD has finally picked up steam, but now the question arises where a top could be created.
There are two levels where profit-taking is likely to take place: The first target lies at the bearish bat pattern completion zone at 1950 USD, while the second target lies around 2000 USD, which is the measured move of the 4h inverse head and shoulders. While bearish patterns underperform relatively strongly in an uptrend, the area between 1900 and 2000 USD is definitely a level to watch, especially if the 4h bearish divergence plays out into daily hidden bearish divergence.
There are two levels where profit-taking is likely to take place: The first target lies at the bearish bat pattern completion zone at 1950 USD, while the second target lies around 2000 USD, which is the measured move of the 4h inverse head and shoulders. While bearish patterns underperform relatively strongly in an uptrend, the area between 1900 and 2000 USD is definitely a level to watch, especially if the 4h bearish divergence plays out into daily hidden bearish divergence.