Dot has always been one of my favorite projects, so I am a bit biased. Dot works to solve many of ethereum's problems, including long-term scaling and security solutions.
Dot/Eth has been caught in a descending wedge pattern for 6 months. Notice how the RSI indicator has retained support near 30 and has even formed higher highs. This is showing a positive...
The number of BTCUSD longs is has never been higher. The divergence to BTC price has never been wider. Expect extreme volatility in the upcoming weeks.
The RSI pattern on ETH/BTC looks rather bearish. Not only did the RSI top in May2021, but it has been in a declining pattern since, and has recently retested a long-term support line starting from Sep2019, which was recently broken in Jan2022
If ETH should fall below .05BTC (Red-outlined circle), it may experience a relentless sell-off.
Note the blue pennant formation in the chart as well as the corresponding formation in the RSI indicator. This formation has been building for more than 2.5 years.
The RSI pennant broke out of the wedge and retested it recently shown by the red-outlined circle, and indicates a bullish RSI signal.
Volume remains stubbornly low, but with rising price - another...
