ETHUSD Inverse Head and Shoulders to $2000

Ethereum (ETHUSD) is about to complete an Inverse Head and Shoulders (IH&S) pattern with the Support of the 1D MA50 (blue trend-line). With a 1D Golden Cross already formed since February 08 and the formerly Bear Cycle Resistance of the 1D MA200 (orange trend-line) now turned into Support, this IH&S targets the 2.0 Fibonacci extension, a little over $2000. That is exactly where the 2030 Resistance 2 is of the August 13 High.

Notice how on 1D RSI terms, the pattern is similar to the mid August - September, which started a strong rebound. On top of that, since the August High, ETH appears to be trading on a perfectly symmetrical Cup pattern.


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