Long

Current ETH structure 2.6.21

By BTCilyKandinsky

Updated

3 possible path i see playing out here. Manage your trade with possible structures.

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Needs to close above 1630 on the 4 hr to keep bull trend in tact or we will likely see further downside.

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Closed above 1630. I think we range for another day before we make a move out of this current range.

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Bullish green rejected.

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Looks like we're going to purple path. Manage your trade. Slight 4 hr bear div printing on the RSI.

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Bearish divergence denied. Looks about time to long your longs. Manage accordingly.

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RSI holding trend line so far. Upwards consolidation.

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Again some bearish divergence. The apex of this move should play out soon.

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Apex of this move. February 15h. I'm still bull bull bull, but just being cautious here. Watch for closes below the trend line to signify a reversal/correction. Hoping it still follow the purple line.

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RSI breaking out to the upside!

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Price and RSI needs to hold here to parabolic ascent.

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Possible leading diagonal in red. Parabolic ascent in green. If you're in it manage your stops accordingly. If you're waiting to buy, possible opportunity incoming.

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Looking rather suspect. This recent drop did trigger a lot of stop right above 1655. If it want to move higher it needs to do it here. Otherwise I think we see a good sized correction. Hope you have some dry powder to long your longs.

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Given what BTC is doing, we can only assume that ETH will catch up. It's been ranging for longer than I expected. I expect (hope) to see a big mark up soon.

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RSI looks good. It's been a slow mover, but finally moving up. Strong support at 1750 area.

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Still closed in the wedge. Let's see if this can hold. Otherwise we go on for a little downward journey.

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Sitting on RSI support. Hold here or the downward journey starts. POC is sitting at 1200's for this structure.

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Also volume has been drying up a bit on the rise up. We need some serious sell volume to kick in for a bit of a reset imo.

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Not a good close. I think the trend is over for now and correction is in order. Closing this trade.

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Daily break.

BTCilyKandinsky

BTCily Wassilyevich Kandinsky (16 December [O.S. 4 December] 1866 – 13 December 1944) was a Russian painter and (ch)art theorist.
Kandinsky is generally credited as the pioneer of abstract (ch)art.

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