I have been watching this for many weeks, so there are no surprises here. Yesterday, Ethereum wicked down below key support, before pumping massively. The candle is far from closed, so it is too early to celebrate, but for now we have significant bullish divergence with oversold WEEKLY RSI on Ethereum. If you want further confirmation of this reversal, wait for RSI to break the descending resistance as price almost always follows.
Either way, you know that I have been patiently waiting for the signal that Ethereum is preparing a sizable move. We are starting to see it.
Either way, you know that I have been patiently waiting for the signal that Ethereum is preparing a sizable move. We are starting to see it.
scott.melker@texaswestcapital.com