Ethereum is strongly over bought in 4 hours chart, divergency for shorting has created. Perfect time for shorting and expecting to go as low as 0.044 next couple days. accumulation continuous going strong and bullish shark pattern has shown ethereum to the moon after this short!
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Seems like my chart is broken, but 4 h chart still overbought in overall, it is still valid that downward trend are here to come. expecting to rest on the accumulation level 0.45.
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More divergency has created, set up for dumping. But, obviously many people doesn't care and will follow this unlimited bear trap. I hope people hold enough margin and patient for the dump. More rise can potentially come, but after all eth can end up downward for long term.
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I hope everyone did short ethereal when it is up, if you haven't close the position, don't worry, bearish gartley is forming.
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I'm not telling anyone to short for long term, but if scenario happens, this can be the downward trend.
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finish your short position, RSI upward resistance, likely to drop a little or not and go up, long from now.
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do not long for too long, take profit and ready for further correction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.