Short term time frame is leaning toward bullish.
But there are several resistances to keep in mind before taking entries
There is a strong resistance from the mid term trend line and another one from the horizontal support line.
RSI and MACD are moving up with the price which is always positive.
Fundamental
There are options expiring today which may lead...
Head and shoulders forming on the 4H
Technicals:
This is a long term trendline which can break due to bearish momentum
Look for confirmation of the pattern.
RSI and MACD bearish
Fundamentals
Looks like a news driven dump
Some news on Polkadot
Bitmex listing on March 3
LEdger live on th MArch
IOST partnership on 5th
Next news to look forward to:
13th...
There is hidden RSI divergence on the chart.
The price seems to remain stagnant while RSI has gone down significantly. Seems like a potential buy opportunity
Other signals in favor of the bullish trend are:
1. Pullback and range trading on BTC -> Bullish for ETH
2. ETHUSD (idea below) looks neutral to bullish
The pin bar at the bottom is a confirmation of the...
There is an inverse H&S possibility on the longer frame
and H&S possibility on the shorter frame
Look for a break in either direction.
I am personally more inclined on the bullish momentum. Given the RSI divergence and strong continuation moves but as a trader one should not make assumptions.
