Just as we were doubting the validity of the head and shoulders pattern in Ethereum, it broke down. However, our support levels held and we have been discussing them for days so you should have been well prepared. Recall that we said we would find support at $1694 and $1653, the latter being a very strong technical level and the neckline of the previous inverse head and shoulders pattern. There is a vacuum zone below however to $1550 or so. Currently we are caught between the two levels mentioned above and could be forming a bear flag pattern so be careful. From above, $1748 will provide resistance but if we can breach this we should be able to solidly reclaim the range between this level and $1872.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.