ETH is in a massive Rising Broadening Wedge...
I personally think that this is a very large bearish pattern and we can see the end of ETH Bull Run quite soon. If it retests the top of this pattern and makes another lower high on the RSI it will come crashing down.
On this chart alone we have 2 strong bearish signs.
1.) Bearish RSI Divergence. You can spot this by looking at the price which is making higher highs and the RSI is making Lower Highs which means ETH is losing strength. This is on the 12hr candle so this is a longer term view and can take up to a month or more to play out.
2.) Rising Broadening Wedge, which in theory is a bearish chart pattern. But this is crypto and we know that it doesn't always stick to the rules so we will have to wait and see what happens and just make sure our trades are protected.
On this chart alone we have 2 strong bearish signs.
1.) Bearish RSI Divergence. You can spot this by looking at the price which is making higher highs and the RSI is making Lower Highs which means ETH is losing strength. This is on the 12hr candle so this is a longer term view and can take up to a month or more to play out.
2.) Rising Broadening Wedge, which in theory is a bearish chart pattern. But this is crypto and we know that it doesn't always stick to the rules so we will have to wait and see what happens and just make sure our trades are protected.