head and shoulders indicating short term correction and sideways

ETH shows uptick as a way to hedge the BTC downturn with SEC negatory view. Low chance of acceptance. Head and shoulders could support the move back down and up again swinging low with negative SEC outcome and then climbing back up.

Commentaire:

Tip of the head is mispalced, but the idea remains that a reversion to the uptrend floor is possible especially if SEC results in negatory outcomes. Also note that if this were to happen the pattern would indicate a cup-and handle as the price reached top of the right shoulder.

Commentaire:

Potential for slight recoveries in intra-day charts to eventually close out the head around 800-850 range. Then to begin the second shoulder.