ETH Short in waiting
Updated
ETH appears that it might be topping out and a drop could be in store. However, this could be a bit premature. I'll be waiting for divs to set in on the daily chart, like in early March, and similar patterns should also formulate on the four hour chart. Look for a drop and another move up over the next seven to nine days. This would, coincidentally, line up with the closure of the DAO crowdsale which is seemingly providing the catalyst for this up move.
Note
This is beginning to play out as expected. Price has dropped and reverse bull divergence has formed. I'm thinking we'll see another move up where stops get taken out above the recent high. I have not yet entered a trade, but I'll be looking to short the next bounce assuming I get the look I want out of the momentum indicators.Note
I should add that I'm seeing this divergence on the four hour chart.
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.