INVERTED HEAD AND SHOULDERS
Head-and-shoulders bottoms are reliable chart patterns that sport a low failure rate and good average rise.
Price trend Downward leading to the pattern
The Shape looks A 3-valley pattern with the middle valley below the others. The pattern should look like an inverted person's head and shoulders, proportional, and not lopsided.
The two shoulders should bottom near the same price, be nearly the same distance from the head, and look similar (both wide or both narrow).
The Volume Highest on the left shoulder or head, diminished on the right shoulder. Trends downward 66% of the time.
The Neckline Joins the two armpits. The pattern confirms as a valid one when price closes above a down-sloping neckline or above the right armpit when the neckline slopes upward.
Technicals suggest that, price has broken out of the NECKLINE and is moving to the upside, a position will be taken only when this price closes above the NECKLINE.
BUY: 0.00028145sats(ETH) or buy at current price and hold( long term recommended as well)
STOP LOSS: 0.00021955sats(ETH)
EXCHANGE: idex.market ( trade with caution)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.