ETHUSD break of short term resistance
Updated
ETHUSD broke out of both the downtrend resistance line and 0.786 fib resistance level with significant volume at around 2018-05-29 7AM EST.
Expecting upward movement to resistance at $600 then a retrace back to $540.
Be aware that we are still in the downtrend channel started on May 5th until a significant break above $650.
Notice the bullish divergence before the break of this morning:
Expecting upward movement to resistance at $600 then a retrace back to $540.
Be aware that we are still in the downtrend channel started on May 5th until a significant break above $650.
Notice the bullish divergence before the break of this morning:
Comment
Bearish divergence on the hourly. Should see a small dip to 540 and then back up
Comment
Bearish divergence and rising wedge forming. Get ready for the sharp drop to 540
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.