✴️ Ethereum's Rising Wedge Leaves No Room For Doubt

18 thg 12, 2023

We have a perfect rising wedge that is already breaking bearish... It leaves no doubt as to the fact that Ethereum (ETHUSDT) together with the rest of the Cryptocurrency market is moving lower in a normal but fast correction.

This is the MACD (Daily TF)


It is quite telling. The downward bias is really strong and already produced a double top pattern.

There are two bearish signals on the RSI (Daily TF)


ETH's RSI lost its trendline support as well as moving below 50 in the reading (bearish).

Volume continues to drop, the calm before the storm.

Slowly, slowly down... Nothing is happening, everything is good then Boom!

Namaste.