Head and shoulders forming on Ethereum chart

Ethereum is forming a head and shoulders pattern following bitcoin

There is also a double bottom on the 1h chart, this double bottom drags the price to $403 - $416 which is the range of left shoulder of the pattern, In other words, it forms the right shoulder if it rejects this range.

Handel aktiv:

The price has just hit a higher price than expected but it still can be considered as a head and shoulders pattern and the right shoulder's high just touched in my opinion because Ethereum made a higher growth in comparison with Bitcoin which is the market maker so it will have a bigger pull back too .
IF the price pulls back to $380 the pattern will be completed and the lower prices are expected to be seen

Kommentera:

Updated chart