I have posted this idea previously but this time I'm clearing up some view. I find these 2 charts strikingly similar but there are some small differences. Especially on the RSI and Stoch RSI which seems to be more bullish on ETH.
Many bullish trends end at either the 0.618 or 0.786 level.. Very key levels. Even worse is bitcoin, generally a bell weather for the broader crypto market has a lot of HIDDEN bearish divergence on the chart. Here it is being shown on the 2 day chart. From my experinece, Hidden Bearish divergence is THE divergence you want to look for to see of a bull trap is occurring. In this chart it is visible on the MACD histogram and RSI
Here on the 2018 chart we can see it again on the RSI and MACD itself. I think a lot of people are going to be surprised at how quick we can sell off here. Of course, if we go down bullishly then people will be surprized at how quick the recovery is, but that remains to be seen.
Here on the 2018 chart we can see it again on the RSI and MACD itself. I think a lot of people are going to be surprised at how quick we can sell off here. Of course, if we go down bullishly then people will be surprized at how quick the recovery is, but that remains to be seen.