halleys5

What does the widening channel mean??

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
I like the direction of the new ETH mim-channel, but it does seem to be diverging. I have no idea what that means.
I also like the RSI direction.
Maybe this means a volatile increasing price mid-term?

Comments

A widening channel means the market is reversing direction. But I think we are forming a rising wedge here which signifies a pullback is looming unless we can break out.
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rmsutton rmsutton
Also, technically no longer a channel since the lines are no longer parallel.
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halleys5 rmsutton
@rmsutton, thanks for the info! I’m a knob..
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