TradingView
Darou
May 15, 2021 6:42 AM

RSI Divergence + Potential H&S Forming. Short

Ethereum / U.S. dollarBitstamp

Description

(First Published Analysis, please critique!)

RSI (and MFI) divergences from new highs, third rally to form right shoulder may open up a window for a nice correction.

Long term view on ETH is bullish, but a good buying opportunity should present itself after this week.

Have learnt much from the community here, thank you all for contributing!

Comment

Trends confirmed, but please do not blame it on Elon or whatsoever! It was due. The heavier dip we saw on the 19th was likely from derivatives trading and margin-call actions. Nonetheless I think we'll retest the low
Comments
bobbycrypto05
RSI is dropping with the price.
garrettvorce
Agreed, we're in due for a correction. BTC to 42k and ETH to 3200-3600. Weekend volume can't sustain the selling pressure
Darou
@garrettvorce, Thank you for sharing!
More