ETH is heading to a convergence point
1. Trend: D1: Down trend. H4: Up trend
2. Market context:
Moving in a bullish wedge after a bullish wave => continual trend pattern
Upper side of the wedge is tested 5 times -> weakening resistance
RSI bullish divergence in M15 with a strong rejection Pinbar of support
A convergence point from 3 lines around 182 (psychological level, bottom of a Pinbar)
==> I tend to a Long position in H1
==> with expectation of 5th wave in Elliot wave, bearish divergence in H1 and H4
Let's see!
2. Market context:
Moving in a bullish wedge after a bullish wave => continual trend pattern
Upper side of the wedge is tested 5 times -> weakening resistance
RSI bullish divergence in M15 with a strong rejection Pinbar of support
A convergence point from 3 lines around 182 (psychological level, bottom of a Pinbar)
==> I tend to a Long position in H1
==> with expectation of 5th wave in Elliot wave, bearish divergence in H1 and H4
Let's see!
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.