The Kraken Wick Signal
Things to note:
-The Kraken Wick (Red Vertical Elliptical) Dated May 05, 2017 & Feb. 21, 2021
-The Bearish Divergence with PA & RSI from 2017-2018 and a possibility of another Bearish Divergence this 2021-2022.
As a follow up to my previous macro analysis of ETH, one interesting thing that I found from this chart recently is the ETH wick down to the 200 Daily Moving average. It looks eerily similar to the wick down on May 05, 2017. Both Kraken Wicks have also appeared after the 1 D Golden cross.
In May 05, 2017 that wick down in Kraken signified a jump start to Alt coin Season with a push of dominance favoring the alt coins.
To counter a bullish sentiment, this recent Kraken wick down was also a point in time when standard GWEI was over 1000 and fees were ridiculous….
Another thing I am watching for this 2021 is a possible formation of a bearish divergence of the PA & RSI during the bull season. I looked at 2017-2018’s bearish divergence and am looking to see if there will be a similar play out.
Everything is in my own opinion only.
Things to note:
-The Kraken Wick (Red Vertical Elliptical) Dated May 05, 2017 & Feb. 21, 2021
-The Bearish Divergence with PA & RSI from 2017-2018 and a possibility of another Bearish Divergence this 2021-2022.
As a follow up to my previous macro analysis of ETH, one interesting thing that I found from this chart recently is the ETH wick down to the 200 Daily Moving average. It looks eerily similar to the wick down on May 05, 2017. Both Kraken Wicks have also appeared after the 1 D Golden cross.
In May 05, 2017 that wick down in Kraken signified a jump start to Alt coin Season with a push of dominance favoring the alt coins.
To counter a bullish sentiment, this recent Kraken wick down was also a point in time when standard GWEI was over 1000 and fees were ridiculous….
Another thing I am watching for this 2021 is a possible formation of a bearish divergence of the PA & RSI during the bull season. I looked at 2017-2018’s bearish divergence and am looking to see if there will be a similar play out.
Everything is in my own opinion only.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.