The pump ETP made since Juli 2018, has been an extreme fake pump. I remember asking my members back than, if something special was going on fundamentally, nobody had an answer on that question. So it was quite obvious it was a fake pump even at the start. Now during the rally the first few people started to short it around $2/2.5 and some tried it several times...
Following a heavy move to the upside signaled by a RSI divergence in may time, ETP/BTC has failed to make higher highs for the last few days while the RSI strength is weakening. It could appear a change of trend is upon us.
I have cloned the previous downside and laid it over the proposed temporary top of market swing here and it looks relatively aesthetically...
This is not a signal to buy. The buy-zone is my personal target. :)
Head and Shoulder - bearish
1h 50MA (cyan blue) moving downward indicating downtrend
MACD indicates more selling power than buying
Expect to touch 45k in the short term
H&S is bearish.. Reversal may take time
Break through resistance line / 1hr...