$ETH [ETH/USDT 4H timeframe] - Head and Shoulders pattern reveals: Opportunity to short for a sharp drop!
Technical view for traders on Binance Square: ETH on the 4H timeframe is completing a very classic Head and Shoulders (H&S) structure.
Pattern recognition: Price has finished forming the left shoulder (S), the head (H), and is currently in the process of forming the right shoulder (S) beside the neckline sloping upward.
Technical confirmation signals:
Caution: Wait for the price to officially break down the swing low at the left shoulder, accompanied by increasing volume, to confirm the bearish reversal signal.
Bold (Aggressive): Consider entering near the current price area around 2,654 USD, with a Stoploss (STL) placed just above the head peak.
Target: The downside move is expected to head toward the support zone according to the measured move of the pattern (around the green support line at 2,331 USD, while also trending toward the 200 EMA on the 4H chart).
👇 Which side are you on—bulls or bears already? Let’s discuss your viewpoint and entry points in the comments below! Remember to hit Follow to not miss the next wave updates!
#ETH #Ethereum #BinanceSquare #trading #CryptoAnalysis #TechnicalAnalysis #ShortEther
Technical view for traders on Binance Square: ETH on the 4H timeframe is completing a very classic Head and Shoulders (H&S) structure.
Pattern recognition: Price has finished forming the left shoulder (S), the head (H), and is currently in the process of forming the right shoulder (S) beside the neckline sloping upward.
Technical confirmation signals:
Caution: Wait for the price to officially break down the swing low at the left shoulder, accompanied by increasing volume, to confirm the bearish reversal signal.
Bold (Aggressive): Consider entering near the current price area around 2,654 USD, with a Stoploss (STL) placed just above the head peak.
Target: The downside move is expected to head toward the support zone according to the measured move of the pattern (around the green support line at 2,331 USD, while also trending toward the 200 EMA on the 4H chart).
👇 Which side are you on—bulls or bears already? Let’s discuss your viewpoint and entry points in the comments below! Remember to hit Follow to not miss the next wave updates!
#ETH #Ethereum #BinanceSquare #trading #CryptoAnalysis #TechnicalAnalysis #ShortEther
