ETHUSDT distribution or consolidation ?
Daily show bounce has reached 0.618. Is this a B wave in ABC correction ?
4H chart on the left suggests bearish div forming on RSI.
1H chart on the right show 5 wave counts.
Dips are bought up on lower volume.
Price is going up on lower volume.
I'm neutral because this could be a potential consolidation and could break up. Small time frames can be confusing. Volume on daily breakout from 400$ show strength.
Short here would be to early and would not be to profitable.
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