Ethereum pumps, delusional bulls follow

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
256 4
Ethereum is repeating history. Like very recent history. ETH is in a rising wedge and the 4 hr RSI is over 70. Look back a few weeks and see how that turned out last time. The bulls keep falling for the same tricks over and over. Take a look at the ETH.D chart. You will see the same rising wedge .
Trade closed: target reached: We could see a double top before Ethereum sees further downside. Closing out for now. Short again later.
@madeinvietnam like the idea, , i wonder if we are in a copy of the precious move inside a descending triangle, but lots of altss are in a simialr big resitence, and BTC didnt cross the 200MA yet.
luissjp luissjp
@luissjp, only a breakout and retest of the resitence will make me reenter my position and go long

Right now, time is more important than price action. ETH follows BTC and Bitcoin has been moving sideways for 2 weeks. The last time it did that, it broke below 9.4K. Also, the crypto market is just a baby and it tends to look to bigger financial markets for direction. If the US stock market is in a strong downtrend, then crypto is very unlikely to be bullish. I expect the stock market to give crypto a direction very soon.
luissjp madeinvietnam
@madeinvietnam, thanks for the well explain comment
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