Strongly correlated to BTC, ETH is trying to hold a base of support as we continue to form lower highs.
This is a descending triangle, a bit more visible on the 15 min time frame.
Patiently waiting for a break of the lower highs, or a dump under support and flush to oversold RSI levels.
Note that even if ETH hourly RSI is oversold, it can drop to more extreme levels if BTC is not in hourly oversold conditions yet as well.
Anticipating a clear break from the tightening channel sometime within the next 3 hours or so.
Be picky, make the bulls PROVE to you that they have regained momentum and control.
Otherwise sit on your hands and wait for an opportunity.
If you have the itch to trade start practicing with stocks, block chain stocks and Canadian MJ have had wonderful volatility the last two weeks!
This is a descending triangle, a bit more visible on the 15 min time frame.
Patiently waiting for a break of the lower highs, or a dump under support and flush to oversold RSI levels.
Note that even if ETH hourly RSI is oversold, it can drop to more extreme levels if BTC is not in hourly oversold conditions yet as well.
Anticipating a clear break from the tightening channel sometime within the next 3 hours or so.
Be picky, make the bulls PROVE to you that they have regained momentum and control.
Otherwise sit on your hands and wait for an opportunity.
If you have the itch to trade start practicing with stocks, block chain stocks and Canadian MJ have had wonderful volatility the last two weeks!
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social