@grayfox on ETHUSD | PriceONN Community

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grayfox PRO newbie
ETHUSD Mar 7
Is anyone else noticing a potential head and shoulders forming on the hourly chart? Seems like the neckline is around 1970. If it breaks below that, could we see a pretty significant drop? Just trying to get some other opinions on this tbh.
ETHUSD

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grayfox PRO newbie Mar 7
Update: been watching it closely and it's bouncing around that 1970 level. I'm thinking of setting up a short position with a tight stop loss just above the 20 SMA. But I'm still pretty new to this, so I'm a bit hesitant. What do you guys think about using the Bollinger Bands as a confirmation signal? If it breaks below the lower band, would that be a stronger indication of a downtrend? Any advice would be appreciated!
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