ETHUSD Long term channel broken on Kraken
FWIW throw this into your TA pot:
- An important channel now penetrated on large volume albeit on the GS 'news' - fake as it turns out
( zerohedge.com/news/2018-09-06/goldman-cfo-says-report-bank-abandoning-plan-trade-cryptocurrencies-fake-news )
However note:
- the 34 day RSI is showing nice divergence at 200 support
- while shorts have jumped to levels which have previously signaled short term lows.
- Wyckoff fans may recognize a potential Wyckoff Spring at the lows here
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- Above shows tentative 4 Hour long wedge support again with 34 RSI positively diverging.
- B TW the 4 Hour 272 CCI also positively diverging
Takeaway - ETH has now made a very bearish break of the long term price channel but if an early potential bounce regains the lower parallel that would be very bullish I MO
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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.