SUMMARY
Ethereum (ETH) has joined Bitcoin (BTC) in the bounce and the Head & Shoulders look quite similar if not near exact. This lends to the uniformity of sentiment across the market. IF this Head & Shoulders pattern plays out, then a target of $1,382 could be measured.
The below chart shows that volume also confirms as the shoulder volumes are both below and less than the Head volume height. Patterns have two requirements: completion and confirmation. The completion is when the LS, RS and H are formed and confirmation is when price breaches the neck line (horizontal white line). Let's see if price can breach the neck line today.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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