ETH - Wait For The Break! Come On Bulls

16 Feb 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

ETH is forming a potential big inverse head and shoulders pattern, marked by orange arcs.

As per my last analysis, we are still waiting for the bulls to take full control, by breaking above the gray neckline which covers the entire pattern/structure.

Meanwhile, until the bulls take full control, the bears can still kick in and push ETH lower to test the lower brown trendline. In this case, we will be looking for new buy setups to form.

Which scenario do you think is more likely to happen? and Why?

Always follow your trading plan regarding entry, risk management, and trade management.

Good Luck

All Strategies Are Good; If Managed Properly!
~Rich