peterbokma

ETHUSD - decline in the making

Short
COINBASE:ETHUSD   Ethereum / U.S. Dollar
Looking at the DAY-chart, it appears that we start to have good reasons to sell ETHUSD at current market levels. The RSI is 70.0 and we further have a NEW MOON , which is the concept of financial astronomy, indicating a decline may happen soon. The weekly-chart (for you to study) also show potential negative divergence, and suggests a much stronger decline is possible. For short-term I feel we may see the bottom the the channel, which is around USD 3,000. Strategy sell between 4,100 and 4,500. The stop maybe placed at 5% of price, and the profit objective return is 40%.