Eth rejection, what now?
We can see the $1840.6 area is a strong r/s line in this current run for Ethereum, and it’s difficult to make out what kind of pattern is playing out at this point. Crypto seems to like triangle formations for consolidation, and now I’m waiting to see if this current triangle plays out properly, for better or worse. It appears we may be in more of an ascending triangle which should prove more bullish, but how far will we retrace into it? There are upward crossing emas which typically provides bullish strength, Eth may bounce off of the ema to a breakout, or may pull back further depending on how Btc wants to dump from its ATH ping today. For now, it seems the rsi needs to reset after a solid run this morning.
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