Ethereum HS Formation – Targets 1700 – 1600 – 1300

Ethereum HS Formation – Targets 1700 – 1600 – 1300

Dear friends

Ethereum has completed a head shoulder formation and we see as first targets 1700 – 1600 and 1300.
The neckline of this HS formation has already been broken and Ethereum moves downwards in the trendchannel. Traders have become extremely cautious after all the liquidations of accounts during violent declines and that make the chance for a rise smaller and smaller.

Normally the price returns to the neckline after a first decline. The question is now, does it stop after the first target is reached. If ETH goes lower than that an important key level is broken and we will probably see lower targets soon.

Please share your thoughts and idea’s below dear friends. What do you think and why do you think it with or without a chart.

I wish you all good luck with trading guys!

Disclaimer: this is my view, no advice to buy or sell. Also always do your own research!

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