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.
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
