ETHEREUM - RISING WEDGE - NEGATIVE DIVERGENCES!
Hello Traders,
Here is an new update on ETH Ethereum.
We can see on this 4 hour chart that there is a big negative divergence formed in the RSI. It is possible but of course not a guarantee that we will have an interim correction. We can also see a divergence in volume. Of course that is also bearish.
Only if we break out of this rising wedge upwards with a lot of volume and the day candle also closes above the rising wedge then we can (in my opinion) continue the rise up to the targets in my previous analysis of Ethereum.
Long positions are best and safest after a RE-TEST of the resistance level 3528 USD. That is a standard to go long after breaking all time highs.
Stops for Short positions best to place just above the level at 3620 USD.
You don't need to SHORT ETH but you can also have a buy pause because longer term view on Ethereum looks perfect!
Important Support can be found at:
Support 1 3189
Support 2 2961
Support 3 2798 (possibly a good buying opportunity)
Support 4 2610
This is my personal view of Ethereum and not investment advice. Of course, always do your own research as well and only then take positions.
Here is an new update on ETH Ethereum.
We can see on this 4 hour chart that there is a big negative divergence formed in the RSI. It is possible but of course not a guarantee that we will have an interim correction. We can also see a divergence in volume. Of course that is also bearish.
Only if we break out of this rising wedge upwards with a lot of volume and the day candle also closes above the rising wedge then we can (in my opinion) continue the rise up to the targets in my previous analysis of Ethereum.
Long positions are best and safest after a RE-TEST of the resistance level 3528 USD. That is a standard to go long after breaking all time highs.
Stops for Short positions best to place just above the level at 3620 USD.
You don't need to SHORT ETH but you can also have a buy pause because longer term view on Ethereum looks perfect!
Important Support can be found at:
Support 1 3189
Support 2 2961
Support 3 2798 (possibly a good buying opportunity)
Support 4 2610
This is my personal view of Ethereum and not investment advice. Of course, always do your own research as well and only then take positions.
Trade closed: stop reached:
First target 4000 USD within a few days!
Comment:
Nothing is sure in TA but just trade what you see not what like to see!