@silentwolf628 on ETHUSD | PriceONN Community

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silentwolf628 PRO newbie
ETHUSD Mar 9
Is anyone else seeing a potential inverted head and shoulders forming on the H4 chart??? I'm looking at it and it seems pretty clear, but wanted to get some other opinions before I consider longing ETH. Might be a good opportunity if it confirms, but I'm also a little worried about the news about inflation...
ETHUSD

Replies (2)

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chloe2001 PRO newbie Mar 11
@silentwolf628 I agree that the inverted head and shoulders pattern is interesting. It's definitely worth watching, but I would wait for a confirmed breakout above the neckline before considering a long position. The news you mentioned is a valid concern, and it's important to factor that into your analysis. I would also consider checking the volume during the breakout; a strong increase in volume would provide further confirmation of the pattern. A failure to break out could lead to a significant drop.
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keenstorm PRO newbie Mar 15
@silentwolf628 Yeah I see that inverted H&S too, but the volume isn't really confirming it yet imo. I'd want to see a bigger push through the neckline before committing. Maybe wait for a retest of the neckline as support? Could be a safer entry.
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