Ethereum: Inverse Head and Shoulders Breakout vs Bitcoin
Trader Tardigrade reports Ethereum versus Bitcoin broke out of an inverse head and shoulders pattern on the 8-hour chart, flagging a major momentum shift that could heat up altcoin trading.
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Trader Tardigrade noted Ethereum versus Bitcoin just broke out of an inverse head and shoulders pattern on the 8-hour chart, marking a big momentum shift and potential follow-through for altcoins.
Ethereum sits at $2291.74 beneath the EMA50 at $2304.09, locking in the bearish structure against the EMA200 at $2434.82, yet the MACD golden cross at -4.36 points to rising momentum while RSI at 53.05 stays neutral inside the Bollinger bands and tests upper resistance at $2301.08.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.