ETH update (H&S pattern awaiting confirmation-s?)
In this chart I have drawn a channel containing and highlighting the H&S pattern developed by PA. the first shoulder and the head developed as a double top, and the second shoulder as a confirmation for the double top.
Now the last thing to wait for is a confirmation of the H&S pattern. I see two possible scenarios, the first one with one confirmation and then dump, which honestly I see as unlikely to happen.
Usually PA has a fractalic behavior, which makes me think that we are going to see a double confirmation on the H&S pattern similarly to what happened in the case of the double top, with maybe a smaller H&S pattern developing under the channel as a confirmation.
Now the last thing to wait for is a confirmation of the H&S pattern. I see two possible scenarios, the first one with one confirmation and then dump, which honestly I see as unlikely to happen.
Usually PA has a fractalic behavior, which makes me think that we are going to see a double confirmation on the H&S pattern similarly to what happened in the case of the double top, with maybe a smaller H&S pattern developing under the channel as a confirmation.
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