ETP weakening
Updated
Rising wedge, declining volume, bearish divergence RSI
Small correction in need before continuing on way to test all time highs
Break to the upside of the wedge/return of bull volume would invalidate
For now aiming for touch of top of the wedge at least once then find support in dotted white line channel
Small correction in need before continuing on way to test all time highs
Break to the upside of the wedge/return of bull volume would invalidate
For now aiming for touch of top of the wedge at least once then find support in dotted white line channel
Comment
so far the idea is valid, however the lines of the wedge aren't so accurate now but you get the idea. Volume is still dropping, BTC/Crypto in general fairly weak too which will add to the chance of ETP breaking down. bearish divergence on 1 day is still apparent and keeps going. If we dont see a bull dive on a lower time frame like a 1 hour to signal a bounce and a re-test of top of wedge then this may well be ready to breakdown.
Comment
Wait for one more small bounce up, putting 1hr RSI above 50 or further then begin to ladder short with hope a full breakdown of wedgeDisclaimer
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