ETHUSD - Weekly RSI bullish divergence fractal.
Only on USD exchanges since USDT exchanges closed at a different price.
Fractal for bull market of 2015-2016. Back then we saw a bull market (from the end of the 2013-2015 bear market) which ended with a weekly bearish divergence on the RSI.
The bottom of the following ~70% retrace in 2016 was marked by a bullish weekly divergence.
Now we can see that the 2017-2018 bull run ended with a similar weekly bearish divergence and is now forming a bullish divergence with almost identical price action to 2016 after an 87% retrace.
This divergence is not as strong as before but if it confirms it is reasonable that we will see an extended bull market for ETH once again.
Fractal for bull market of 2015-2016. Back then we saw a bull market (from the end of the 2013-2015 bear market) which ended with a weekly bearish divergence on the RSI.
The bottom of the following ~70% retrace in 2016 was marked by a bullish weekly divergence.
Now we can see that the 2017-2018 bull run ended with a similar weekly bearish divergence and is now forming a bullish divergence with almost identical price action to 2016 after an 87% retrace.
This divergence is not as strong as before but if it confirms it is reasonable that we will see an extended bull market for ETH once again.
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