ETHUSD break of short term resistance
Updated
ETHUSD broke out of both the downtrend resistance line and 0.786 fib resistance level with significant volume at around 2018-05-29 7AM EST.
Expecting upward movement to resistance at $600 then a retrace back to $540.
Be aware that we are still in the downtrend channel started on May 5th until a significant break above $650.
Notice the bullish divergence before the break of this morning:
Expecting upward movement to resistance at $600 then a retrace back to $540.
Be aware that we are still in the downtrend channel started on May 5th until a significant break above $650.
Notice the bullish divergence before the break of this morning:
Note
Bearish divergence on the hourly. Should see a small dip to 540 and then back up
Note
Bearish divergence and rising wedge forming. Get ready for the sharp drop to 540
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