AjnoudaSikret

ETH fractaling inside huge MEGAPHONE. Indicators signaling DOWN.

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AjnoudaSikret Diupdate   
BINANCE:ETHUSDT   Ethereum / TetherUS
1. bearish RSI div
2. bearish MACD div
3. longer trendline resistance (broken with possible fake out. other trendline is not yet broken, and is forming a megaphone pattern)
4. megaphone pattern (usually a bearish pattern but could brake out either way. Expect very volatile price action very soon)
5. megaphone fractal within a huge megaphone (it should be interesting to follow the price. If smaller one resolve bearish, it could drag a bigger one very fast very low, and vice versa)
6. fib retracement of .618 & .786 which is usually a location for a trend continuation
7. long term downtrend - series of lower highs and lower lows. (even if ETH broke out of the trendline and created a small w pattern, which is known as a double bottom, on a bigger scale, it hasn't formed yet on a higher time frames)

So if I have to bet, I would bet down, as long as the long term bear trend resolve itself, but for now, location is very good for bears. I expect them to show up very soon, but if they don't show up, bulls won't hesitate a second to take over.
Komentar:
1H RSI broken and retested

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