Hello!
Will we do the same movement we did 3 times already with RSI or break down?
Here we have chart (4hr) on Ethereum against US dollar where we can see that the All time high (around 1430) has been hit 3 times already. If we get a fourth time I think we might be able to break it and go for the first target and possibly through other resistance line (Upper one) which has been hit 4 times. Like I have said before. What I have seen, "Usually the 5th or 6th time breaks the support or resistance" this is not an certainty ofc.
RSI has been doing a nice trend on this month and we are getting fourth possibly similar break and leg upwards. Also the top resistance line on RSI has been hit already 4 times so I think it weak.
Also we can clearly see how the price has been doing higher lowes. (Bull). Only thing which has stopped us is the sellers on Ath.
The channels are getting smaller so it means that the price is getting more pressure.
Be careful because Ethereum has seemed (atleast to my eye) little weaker against BTC after the strong BTC pump, so it's is possible that we need to get some speed downwards. Maybe from 200ema which did work as a support 3 times in December.
It will be interesting to see what happens.
I'll put picture from the (daily timeframe) possibly break out
If you are not buying/holding for long term or are trading use stop loss.
Otherwise you will get your ass burned!
-Jebu
Will we do the same movement we did 3 times already with RSI or break down?
Here we have chart (4hr) on Ethereum against US dollar where we can see that the All time high (around 1430) has been hit 3 times already. If we get a fourth time I think we might be able to break it and go for the first target and possibly through other resistance line (Upper one) which has been hit 4 times. Like I have said before. What I have seen, "Usually the 5th or 6th time breaks the support or resistance" this is not an certainty ofc.
RSI has been doing a nice trend on this month and we are getting fourth possibly similar break and leg upwards. Also the top resistance line on RSI has been hit already 4 times so I think it weak.
Also we can clearly see how the price has been doing higher lowes. (Bull). Only thing which has stopped us is the sellers on Ath.
The channels are getting smaller so it means that the price is getting more pressure.
Be careful because Ethereum has seemed (atleast to my eye) little weaker against BTC after the strong BTC pump, so it's is possible that we need to get some speed downwards. Maybe from 200ema which did work as a support 3 times in December.
It will be interesting to see what happens.
I'll put picture from the (daily timeframe) possibly break out
If you are not buying/holding for long term or are trading use stop loss.
Otherwise you will get your ass burned!
-Jebu
Comment:
-Higher lows
-20ema has been working as support
-There is some Bearish and Bullish divergence here also
-Lower highs on price