ETHBTC Inverse Head and Shoulders

Hello Traders,

New Thesis on ETHBTC

Points to consider,
- Potential Inverse head and shoulders playing out on the 1hr time frame
- 12 EMA riding as support in to strong resistance, this needs to break for the head and shoulders pattern to be confirmed
- RSI on uptrend with strong support
- Volume declining on right shoulder
- VPVR showing low volume of transactions after resistance zone

ETHBTC could have a pop to the upside, this will only happen if BTC decides on its direction, the market is dictated by BTC's action, if BTC starts to consolidate on the daily, then the chances of this head and shoulders playing out will be more probable...

what are your thoughts? please leave a like and comment,

and remember

“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William O’Neil