After consolidating over the long weekend ETH broke out and rallied hard, forming an ascending wedge on the hourly weakening the 0.618 fib to push through.
It's my belief pressure is now exhausting at 78.6% retracement.
Full disclosure, this is more 'looking for a trade' than anything, so I'll be eyeing volume closely.
This position is wagered alongside NASDAQ coming up against resistance at a strong downward trend line.
Refer to EW count in the chart below:
It's my belief pressure is now exhausting at 78.6% retracement.
Full disclosure, this is more 'looking for a trade' than anything, so I'll be eyeing volume closely.
This position is wagered alongside NASDAQ coming up against resistance at a strong downward trend line.
Refer to EW count in the chart below:
Note
As per last time NAS bounced off the trend line, ETH pivoted.
(Times don't exactly match due to weekend trading)
Note
One more.
Note
Lastly, we have hidden divergence on the RSI.
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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.