Lets take a look at the horrendous chart that is ETH/BTC
First thing we notice is the testing of the .5 Fib fan, from here we begin to look at other indicators to understand if we should play a break up or a break down in the price action.
Unfortunatley with a high RSI and miserable volume, I'm expecting us to breakdown and re-test the lower Fib fans of .382 then .25 if it doesn't gather support. We need volume to pick up before a true breakout can occur.
I'll update the chart and add more indicators below.
Hopefully LeBron can get himself out of this 0-2 mess tonight.
*Delgado*
First thing we notice is the testing of the .5 Fib fan, from here we begin to look at other indicators to understand if we should play a break up or a break down in the price action.
Unfortunatley with a high RSI and miserable volume, I'm expecting us to breakdown and re-test the lower Fib fans of .382 then .25 if it doesn't gather support. We need volume to pick up before a true breakout can occur.
I'll update the chart and add more indicators below.
Hopefully LeBron can get himself out of this 0-2 mess tonight.
*Delgado*
Note
Seeing some bullish signs out of the chaos actually, MACD 12 is crossing above 26 and they're above 0. RSI dipped then gathered momentum back up and price Is following so far. Wouldn't be surprised if we burst through .5 fib fan and tested .618 or .75
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.