Today's volume was big compared to the last 120 days but the change in price was TINY. This means that someone absorbed all the ETH that was dumped today. Besides this, for the moment we have a bullish divergence on the daily timeframe on RSI and MACD. In addition to this ETHBTC is at the confluence of horizontal support and diagonal support and on the weekly and daily timeframe the RSI is at a new all time low.
Comment:
In the previous photo RSI's length was set to 30.
In the previous photo RSI's length was set to 30.
Comment:
Bullish divergence on BB% on the 3D chart.
Bullish divergence on BB% on the 3D chart.
Comment:
Shorts are at an extreme level and longs are decreasing.
So, even though the overall sentiment is BEARISH, ETH is not the one you want to short. From our point of view, ETH looks bullish but knowing that most of the time BTC sets the trend we can't recommend going long on ETH because for BTC we have a scenario with a new low around 5200$.
Shorts are at an extreme level and longs are decreasing.
So, even though the overall sentiment is BEARISH, ETH is not the one you want to short. From our point of view, ETH looks bullish but knowing that most of the time BTC sets the trend we can't recommend going long on ETH because for BTC we have a scenario with a new low around 5200$.
ETHBTC
RSI on the weekly and daily timeframe is at a new all time LOW.