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ETH: Bullish Case Negated? - Bearish Confirmation? (Aug. 22)
In our previous update, we have mentioned a possible ascending wedge that may have secured the psychological support at $400 USD; however, with Bitcoin confirming a change in trend with a clear bearish divergence, Ethereum is now following the footsteps of Bitcoin's price action:
Technicals:
1. Support is now turned to resistance, possibly.
2. RSI is creating higher lows and struggling due to Bitcoin.
3. A possible consolidation above $350 can create a possible HnS pattern (Head and Shoulders)
4. If played out, we can accumulate more ETH at sub $300
Trade Safe.
X Force
Technicals:
1. Support is now turned to resistance, possibly.
2. RSI is creating higher lows and struggling due to Bitcoin.
3. A possible consolidation above $350 can create a possible HnS pattern (Head and Shoulders)
4. If played out, we can accumulate more ETH at sub $300
Trade Safe.
X Force
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📢 Twitter | twitter.com/XForceGlobal
🎥 YouTube | youtube.com/c/XForceGlobal
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