The same configuration of BTC is repeated on ETH on divergence
Hey people, ETH / USD is in a medium term bearish trend with buying volume returning today.
It is on a consolidation zone (rectangle) before its resistance attempted a breakout to finish on a failure.
Looking at the RSI we can see a bearish channel with a divergence which corresponds to an H&S.
So it is likely to come again to check the resistance and we will have the appearance of the second shoulder.
The market will correct with the test of the bottom of the rectangle then come back to the top (A) to check the uptrend line, which is found to be an under-buy zone.
Final check of the last resistance before breaking down and pulling back downwards with confirmation of a bearish signal.
At any time the situation can accelerate.
This is not investment advice but a recommendation for use.
Thank you for taking the time to read my analysis.
Hope you enjoyed it.
Comment on your ideas in the space dedicated to the description.
Please LIKE & FOLLOW, thank you!
It is on a consolidation zone (rectangle) before its resistance attempted a breakout to finish on a failure.
Looking at the RSI we can see a bearish channel with a divergence which corresponds to an H&S.
So it is likely to come again to check the resistance and we will have the appearance of the second shoulder.
The market will correct with the test of the bottom of the rectangle then come back to the top (A) to check the uptrend line, which is found to be an under-buy zone.
Final check of the last resistance before breaking down and pulling back downwards with confirmation of a bearish signal.
At any time the situation can accelerate.
This is not investment advice but a recommendation for use.
Thank you for taking the time to read my analysis.
Hope you enjoyed it.
Comment on your ideas in the space dedicated to the description.
Please LIKE & FOLLOW, thank you!