From 5K max high level that we saw NOV 2021 ( same period High for SPX) we only see, lowest level, #RSI indicator can help US to understand this behavior.
The New Bear Trend Just start, from 12 sep RSI cross above 70 level, and now apparently must go to 30 levels, in this #bearchannel.
if we use Volumeprofile indicator we see very clear that next conhgestion level is too low ( near to 500 usd range zone). :( Other waise maybe if RSI star to develop convergence, he can hope and more less we say after upside broke above 2.000 lvl, potetial valuation. this is very difficult more when all big wall street guys looking more BEARs into stock market.
Hi there! I agree with your bearish bias on ETHUSD. I'm looking for a retracement sell entry at the 1438 area because of the 38.2% Fibonacci retracement line. Do check out my idea here:
DemoDiaryFX_Trading
⋅
@desmondlzw, and I'm looking for shorts still as well
Solldy
⋅
Thanks for sharing your view on this trade! Also recently considered this idea and agree with you on a possible movement scenario)