Rough ETH/USD Idea Immediate Term on BitMEX

19 Jan 2019

I think ETH is ready to head down in the immediate term (next 4-12 hours).

Please excuse the rough drawing, communicating what I see on the indicators.

• Signal/MACD crossover has been key the last two big moves, we're close to another bearish crossover.
  
• We're in a descending triangle like before
  
• Volume is in the same pattern
  
• Shorts look to be making a prolonged pattern like last time
  
• Longs not doing much like last time - bulls don't seem too interested
  
• RSI heading to overbought at lower price action levels
  
• We're in another descending triangle as before