DON'T FORGET THE BASICS! ETH might start a new downtrend.

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
What's coin on guys?

I'll just leave this chart here for you. As you can see there is a lot of significant resistance in this area. It will need a lot of volume for ETH to break this point. I personally think correction is on the way, bur anything can happen if volume kicks in... Anyway this is NOT a smart place to BUY!
@AjnoudaSikret, judging by the high number of views and the low number of likes, I take it not many agree. Not looking promising...definitely a no-buy. Put me in the like column, or at least the agree column. Thanks for the share!
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@andoverg, Yeah, one more thing to have in mind, crypto twitter is extremely bullish again, and alt season is back once again. I'm going away from the herd :)
andoverg AjnoudaSikret
@AjnoudaSikret, isn't that a hidden bearish divergence on the RSI since September?
@andoverg, Yeah it is, but on this time frame some might argue that this is too much candles between two points for bearish divergence to be valid. I don't know if that is correct, but opinions are divided.
+1 Reply
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