DLavrov

Ethereum - The Market Is Going to Fall

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
The market forms a new swing high lower than the previous one. It's not good for bulls as it's just an additional signal confirming the downward movement. RSI confirms the price reversal. MACD lines and histogram support the downward movement. DMI is bullish but ADX line falls. It tells us about a correction movement.

If the price drops below the local support line, the market will move lower to the support zones at MAs and the uptrend lines. The price action in these zones will give us more details, will the market continue the bullish trend or we should be ready for other market conditions.

For confirmation of the further upward movement, the price will have to break the local downtrend line.
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Hello !
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Looking at the symmetrical triangle as well and am really intrigued with the "Psychology of a Market Cycle" which promoted this post of a possible 400% move in 2019 and 2020. If the upper trendline can be broken I think an easy double top formation can happen. Currently long and following along with you man!
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Thanks!
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DLavrov metza24
@metza24, you are welcome!
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