Greetings fellows, this is my first published idea and I hope this makes sense.
Looking at the above chart you will find confluence to validate that ETH is really heading south in the coming days;
1. Bearish engulfing candles in weekly period (Weekly TF)
2. Price rejection of the daily candle at the weekly resistance level (Daily TF)
3. Formation of a bearish triangle in the four hour period currently playing out (4HRs TF)
4. An established bearish divergence on the MACD in the 4 hours timeframe.
Friends! Fasten your seat belt, we are in for a ride to the south.
Please if this makes any TA sense just let me know and feel free to criticize and correct me coz I am still coming up in this game. I need all the help I can get to improve.
Regards
Steve
Looking at the above chart you will find confluence to validate that ETH is really heading south in the coming days;
1. Bearish engulfing candles in weekly period (Weekly TF)
2. Price rejection of the daily candle at the weekly resistance level (Daily TF)
3. Formation of a bearish triangle in the four hour period currently playing out (4HRs TF)
4. An established bearish divergence on the MACD in the 4 hours timeframe.
Friends! Fasten your seat belt, we are in for a ride to the south.
Please if this makes any TA sense just let me know and feel free to criticize and correct me coz I am still coming up in this game. I need all the help I can get to improve.
Regards
Steve