ETH Long Off of Reverse Head and Shoulders
ETH out of a descending channel and has now finished the end of a right shoulder of a head and shoulders pattern.
It’s currently taking a short dip for gaining momentum for the breakout past $466.31, which has failed on 3 different occasions.
A bounce off the acending trendline should prove to break past this critical resistance and start another wave (2nd wave) within the Elliott impulse wave pattern.
Take note of the buy zone. If the ascending trend line is broken, set a close stop loss 1.5-2% below this trend line.
It’s currently taking a short dip for gaining momentum for the breakout past $466.31, which has failed on 3 different occasions.
A bounce off the acending trendline should prove to break past this critical resistance and start another wave (2nd wave) within the Elliott impulse wave pattern.
Take note of the buy zone. If the ascending trend line is broken, set a close stop loss 1.5-2% below this trend line.
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