End of the head and shoulder, approaching last support line

After failing to hit wave 5 the head and shoulder was formed. ETHUSD is now currently sitting at the 840 support line. Remember the downward trend tends to match the neckline to the highest point of the middle of the head and shoulder. We may see hit the next support line before possible bouncing back to the .50% retracement.

Yorum:

On target: Hit 726 for for a few minutes before massive buys. Retraced to .38%.

Resistance: 970
Support: 860

Resistance and support will be tested throughout the week. I believe we are still in a bearish market, after resistance is hit I see another downtrend back to the descending channel.

İşlem kapandı: hedefe ulaştı