Warning signs... ETH signalling more downside?

8 Sep 2021

The signs were starting to develop, but yesterday really brought the picture into clearer focus:

- ETH daily showing downside potential with RSI divergence to price
- MACD (longer MA settings) starting to cross down

My daily stop-and-reverse system has gotten me out of everything. So sitting on the side lines until things change:



P.S. This is marked as a short idea, but I never actually go short, just bearish for now. #LongOnly

9 Sep 2021

Catatan

Interesting to compare volume profiles of ETH to a few others that have recovered quickly (I do this because sometimes these trend following systems I use get stopped out and then the markets rip back up in a few days... so in those instance I try take a half positions to leg into the trade).

Here we can see a low volume area in ETH that could get filled out and a buying tail on the previous down day.



The buying tail was off of the previous flag structure, so this could act as a retest.

Then compare this to ADA...



And BNB...



Both ADA and BNB held above their VWAPS before pushing higher, so I'd expect to see something similar from ETH for it to go higher.

And then when you look at SOL, it's by far the strongest looking with a lot of solid volume structure showing acceptance of higher prices:



(Holding SOL)