Are we not looking at an ugly H&S?

27 Des 2017

Now, before anything else: I'm no expert by any means and my experience with models is close to 0. But, while my gut feeling says ETH is going to break through the 630 resistance area and move up, are we not actually looking at an ugly H&S and ETH will drop to the 520 region, back into the 'normal' range (indicated by yellow lines)? In short: shouldn't we sell?

28 Des 2017

Catatan

It seems as if there's a fair amount of support around the 570 mark and a new resistance around 600. I'm still very curious what way the market will evolve:
1) Break through the 600 and go up
2) Continue moving sideways for another bit...that feels illogical but I cannot really argumentate why.
3) Break through the support of 570 and go further down to the next point of resistance around 520.

I've updated the chart a bit:

28 Des 2017

Catatan

It is noteworthy that there is still very low volume going on. I guess people just sit and wait. Perhaps we should do the same. In the meantime, read the following great piece of advice by Goldbug01 over here: