Is #ETH showing a Head & Shoulders pattern?
MAYBE!
Left shoulder: The push into the 3,200–3,250 area in early December, followed by a pullback.
Head: The higher spike into 3,400+ shortly after.
Right shoulder: The subsequent lower high around
$ETH 3,100–3,150.
Neckline zone: Roughly 2,900–2,950, which price is currently hovering around.
Structurally, that fits the textbook idea of LH–HH–LH with a horizontal support area.
BUT it’s not confirmed
Neckline hasn’t decisively broken. You’d want a clear 4h or better, daily close below 2,900 with follow-through.
Right shoulder is messy. Instead of a s