Rough ETH/USD Idea Immediate Term on BitMEX

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
I think ETH is ready to head down in the immediate term (next 4-12 hours).

Please excuse the rough drawing, communicating what I see on the indicators.

  • Signal/MACD crossover has been key the last two big moves, we're close to another bearish crossover.
  • We're in a descending triangle like before
  • Volume is in the same pattern
  • Shorts look to be making a prolonged pattern like last time
  • Longs not doing much like last time - bulls don't seem too interested
  • RSI heading to overbought at lower price action levels
  • We're in another descending triangle as before
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