ETH Needing a rest

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There is lots of noise out there! Lots of people calling for more bullish price action. Certainly possible but the probabilities are stacked in favor of a short term pullback. Price action tells the story along with a possible head and shoulders forming. We are still within the strongest band of volume trading for ETH and we failed to break out of it (the head). If we break the neckline we will re-visit the bottom of the volume profile bar and reset for more bullish price action.

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Judd & Mordy

***This info is not a recommendation to buy or sell. It is to be used for educational purposes only. Make logical sound decisions for yourself by risking only what you’re willing to lose. It’s on you. *** 

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ملاحظة

We have a late windup here implying a target similar to the height of the head. This weakens the argument for a head and shoulders pattern and opens the door for possible continuation to the upside, albeit, not necessarily the most probable direction.

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ملاحظة

There is the release!

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ملاحظة

In fact, that mini rally I called 21 hours ago did in fact run upwards and it went to the top of the accumulation zone drawn in blue, right to the cent! Now we're also seeing the release called for in the head and shoulders pattern.

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ملاحظة

After reviewing latest price action I'm revising expectations as shown