We see a bounce of the descending channel leading to a potential Inverse Head and Shoulders which usually signals for a trend reversal.
We also see a complete head and shoulders on the RSI which.
Not financial advise
Not financial advice.
If we take a look at the 4H chart we can see a bulish divergence on the MACD and RSI. The bands of the boinger bands are getting narrower signaling for a move. The price is also resting on the lower band which is acting as support.
In addition an inverse head and shoulders is forming signaling for a trend reversal.
If we take a close look at the 4H chart we can see we have a very strong supportive trendline respected 5 times already (highlited in green). Bear candles have relatively short bodies and long tails which means the price ticked down but failed to hold at that level. Volume and volatility are extremely low and a bullish divergence on the RSI give us a signal to...
If we take a look at the daily chart of ETH/USD we can see we have been currently trading in an ascending channel and the supporting trendline has been respected 3 times already (highlited in green) and while a test is possible the chance for growth looks higher becase we see the volume is decreasing yet techichally we are still in an uptrend. The 0.618 fib level...
Btc has extremely strong support at 9200 (previous resistance). As we saw it bounced from that level yet again. Price moved above the ichimoku cloud which confirmed the bullish move. Short term target is 11 200 as we are still trading in a descending channel. Green box is the take profit zone.
A descending triangle is formed and volume is very low. That means a huge move either way is expected. Inverted head and shoulders also formed which is a trend reversal signal! You should wait for the break either up or down and jump on the wave!