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Hi, I know everyone is in a very bullish mode now. However, I could see a small correction happening in ETH USD soon.
1.ETH had nicely hit the daily CPR at TP 1. I could not see if there is strength left to continue to TP 2.
2.4hr timeframe, RSI is overbought and there is a looming bearish divergence.
3. Stochastic RSI is overbought, a potential cross coming soon.
4. ETH hasn't had any correction yet since the rally started. Only consolidation in a step pattern.
I have taken out my profit, from here, there is a probability of the price moving down $290.85-288. Where I foresee by that time, the 20 EMA would have caught and provide support.
Trade safely!! Peace.
1.ETH had nicely hit the daily CPR at TP 1. I could not see if there is strength left to continue to TP 2.
2.4hr timeframe, RSI is overbought and there is a looming bearish divergence.
3. Stochastic RSI is overbought, a potential cross coming soon.
4. ETH hasn't had any correction yet since the rally started. Only consolidation in a step pattern.
I have taken out my profit, from here, there is a probability of the price moving down $290.85-288. Where I foresee by that time, the 20 EMA would have caught and provide support.
Trade safely!! Peace.
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