As you can see on the chart, ETHUSD has been making new highs but on increasing weakness. Volume has been decline throughout the final stages of this push up. MACD predictably showing negative divergences as a result.
Price currently moving within a well defined channel with the lower trend line showing a lot of touches. I would expect this to reverse down very soon (but i wouldn't be surprised if it tries to make one more high as a bull trap).
Break of lower trend line would be a very obvious indicator.
Price currently moving within a well defined channel with the lower trend line showing a lot of touches. I would expect this to reverse down very soon (but i wouldn't be surprised if it tries to make one more high as a bull trap).
Break of lower trend line would be a very obvious indicator.
Trade active:
Short active
Trade closed manually:
Yea, Im not gonna fight this. Position closed manually at a loss but not feeling buying here either. Going to sit on the sidelines to see how it plays out.