WARNING a Downwards move on ETH might be pending

Oct 12, 2019

hello fellow traders, i was very exited when i saw ETH/BTC going up so i decided to run a quick TA on it. though ETH/BTC went up its right now just under big resistance and the last big move on the Daily time frame has caused a bearish divergence which is noticeable on on both RSI and MACD. ETH price is also currently under SMA resistance on the weekly chart and if you try to make a pattern then it makes a falling wedge. A falling wedge patterns breakout in upward direction in the 5th wave and looks like ETH has completed 3rd wave to the upwards descending resistance and it might have a 4th wave to the bottom of falling wedge pending after which it would cause a bullish divergence and will break from the deciding resistance in the 5th wave.