ETH Long Trade
I have been using this descending channel for couple of months now with great hit rate , not really a perfect descending channel but lets just say its a channel that has many confluence points .
Since March 2021 there has been a total of just six times this signal has printed bullish divergence , that's right 6 times. When the RSI is below the 50 mark and we get divergence it leads to massive moves.
March 2021 - 189%
June 2021 - 132%
Sept 2021 - 74%
Jan 2022 - 38%
July 2022 -102%
That's an average of 89% move to the upside, I believe we just got that signal once again , that would put us back to 2000 dollars.
We can also see that every time we have gotten this signal at the bottom of the channel and the divergence kicked in we moved up (yellow circles).
I think it is likely that we have bottom here for ETH.
Since March 2021 there has been a total of just six times this signal has printed bullish divergence , that's right 6 times. When the RSI is below the 50 mark and we get divergence it leads to massive moves.
March 2021 - 189%
June 2021 - 132%
Sept 2021 - 74%
Jan 2022 - 38%
July 2022 -102%
That's an average of 89% move to the upside, I believe we just got that signal once again , that would put us back to 2000 dollars.
We can also see that every time we have gotten this signal at the bottom of the channel and the divergence kicked in we moved up (yellow circles).
I think it is likely that we have bottom here for ETH.
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