Possible indication that Ethereum is forming a bullish channel
Hello guys, this analysis is neutral because for now, we have the confirmatio that boughters are defend the $430 USD above of it. So, in H4 timeframe we could see a possible indication that boughts is end to then, possible drop of the price, becuase we are in this formation of bullish ascendent that show bullish movement for the future. Well, in the pass we see a simetric triangle, but see it the RSI indicator show a possible movement so bearish and the boughts are end. now if the price borke up the zone of $445 USD, that is not a bullish ascendnet and that show a more bullish to arrive an Ethereum so long.
One thing to say you is that in Daily we see a RSI overbought and there are a possible formation of bearish divergence, but as we see, we see in the pass this simetric trinalge of long continuation.
And finally we are in formation of this bearish BAT armonic pattern, that show a possible off of the price, because we were so overbought.
So guys, we are not confirmation here in the zone of indecision, but if I see in the next hours that there are bears that want sell Ethereum, so we are a possible drop of the price, and then, we need to check a Bitcoin.
One thing to say you is that in Daily we see a RSI overbought and there are a possible formation of bearish divergence, but as we see, we see in the pass this simetric trinalge of long continuation.
And finally we are in formation of this bearish BAT armonic pattern, that show a possible off of the price, because we were so overbought.
So guys, we are not confirmation here in the zone of indecision, but if I see in the next hours that there are bears that want sell Ethereum, so we are a possible drop of the price, and then, we need to check a Bitcoin.
