ETHUSD Long term channel broken on Kraken

7 Sep 2018

FWIW throw this into your TA pot:
- An important channel now penetrated on large volume albeit on the GS 'news' - fake as it turns out
( zerohedge.com/news/2018-09-06/goldman-cfo-says-report-bank-abandoning-plan-trade-cryptocurrencies-fake-news )



However note:
- the 34 day RSI is showing nice divergence at 200 support
- while shorts have jumped to levels which have previously signaled short term lows.
- Wyckoff fans may recognize a potential Wyckoff Spring at the lows here




----




- Above shows tentative 4 Hour long wedge support again with 34 RSI positively diverging.
- B TW the 4 Hour 272 CCI also positively diverging

Takeaway - ETH has now made a very bearish break of the long term price channel but if an early potential bounce regains the lower parallel that would be very bullish I MO