ETHUSD

ETHUSD

COMPLEX HEAD AND SHOULDERS.

With a major move down to $358, price has held on to its move forming a pattern called COMPLEX HEAD AND SHOULDERS.

A complex head and shoulders is a pattern usaully found in a down trend, look more like an inverted head and shoulders, but the difference between this pattern and inverted head and shoulder is tht the complex head and should will most times have double shoulders left and right and most times one head.as seen below.

The oscilator (stochastic RSI) is fully oversold. Holding up to a strong support level, price is expected to range around $373 to $365.

Also using the Cloud settings, cloud is opened and the KIJUN SEN ( red line) and the TEKAN SEN( blue line) are moving close to each other signalling a bullish weak crossing that might likely hit the cloud. The yellow region should be the place where the TK cross will take place

TECHNICALS suggest that,price is ranging hight move close to the cloud. If it breaks out from the neckline of the HEAD and SHOULDERS, it will likely hit the cloud and 473usd will be achieved.

 

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.

$COV HODL

 

 

 

 

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