CRYPTO Head & Shoulders Signaling Short Term Consolidation Pullback
It's looking like we may have hit a short term top. We saw volumes peaking and RSI making lower highs with a higher high in price. This convergence typically means reversal. Combine these factors with the head and shoulders reversal pattern and the bearish Stochastic and MACD indicators, it's probably safe to say we will see a pullback before another rally push to prices higher than this top.
Ethereum is most likely heading down to test $725 but will need to hold above $682 to maintain up trend of higher lows.
Bitcoin is looking to hold a level above $6791, with probably support around $7k.
Hope everyone's been enjoying this nice little rally here!
Nice gains from just 9 hours ago. Its good to wake up to that. Hopefully it will trend upwards from here.
I am thinking we will have about a week or so of overall uptrend....Ethereum I'd think back to $1,000 based off of the trend lines and the RSI's. Definitely glad I caught the breakout before bed last night :)