Head and shoulders technical analysisEthereum / US DollarCOINBASE:ETHUSDQuantMasterEcchEthereum is at a crossroads of two separate pathways and the battle ground is the the 2300 price level. On one hand this acts as a very strong support because of the idea of clustering or whole number bias. When a trader thinks of buying at a level they don’t think “I’m gonna buy once it reaches 2304.2.” Because we are creatures that have pattern recognition hardwired into the human mindset, a trader more likely would think “I’m buying when it reaches 2300.” Because of this psychological barrier the bullish path is more inclined to what I believe will happen. Retail Traders that recognize the head and shoulders pattern and and enter pre neckline test make a giant liquidity pool and a thrust catalyst to spring the move upwards. Patience is key with this as until the pattern is invalidated or an institutional trap a sprung it adds unforeseen risk entering a long. If a daily or four hour candle closes below the neckline consider the bull route dead and adjust to enter at lower support around 2000. The current 4 hour poc still is at the top of the price range so an institutional short is still in play. Watch for signs of strength if a trap and sweep does not happen as both paths have equal weight at the time of posting and entering at the lower support could be easily used to trap longs to spring downwards.