There is excessive downwards pressure here in the price structure, further obviated by volume declining in general, but more relevantly for an accurate short play on those tests of local resistance.
Expecting a voluminous spike down thru some support.
Full moon, expect some volatility. mETH bulls won't go down without a fight.
This point (blue box) is going to be insane...this is a critical support, and will be turbulent upon impact. Closing my short on a spike thru this support--where the LT MA meets the Kijun-sen. I expect a bounce/short squeeze like we saw a week and a half ago between June 25-29. But on every time frame moving averages are flowing downwards like water, with the...
Not sure if this is the big one that will bring it down to .618 .786 fib levels of its run since march....but we definitely have confirmation that its beginning a healthy correction.
Please share your thoughts and engage in discussion. Any other indicators saying the opposite, or confirming my analysis?
Massive Bullish OBV divergence (clearer on Hourly)
MACD is pinched and primed for a move upwards (clearer on Daily)
RSI has plenty of room to make a run (similar on both TFs)
Stoch RSI oversold on Hourly, but not super worrisome on Daily
This week, OBV bull div seals the deal.
Also, something about Charlie coming back feels fortuitous.