Kijun Sen played its role of resistance

In order to invalidate the bearish scenario, ETH must move higher than Kijun Sen (red line) at 235$.

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If the bearish scenario is confirmed there is a potential huge move coming soon because there is a lot of hope right now. This sentiment is revealed by the number of long positions opened on Bitfinex that is more than 2.3 times the number of short positions.

Long positions: 480k ETH
Short positions: 202k ETH

Here is the number of long positions on Bitfinex

Here is the number of short positions on Bitfinex

Giao dịch đang hoạt động:

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Still waiting for an entry point. We might go higher.

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This bullish divergence on the daily timeframe still holds me back from shorting ETH.

Still waiting for more clarity before taking action.

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Another bullish signal is the break of the RSI trendline (4h).