ETHUSD ETH has been rallying hard over the last month and a half. Beautiful bullish price action. The technical analysis, however, is now showing a bearish divergence between price and the RSI: Price made a higher high, but the RSI created a lower high. I am looking for a break of structure to the downside to start taking shorts. It might also be a good time to stable some of that ETH made from the last few month's gains. This is just my theory on the market and not financial advice. Trade what you see. :) Edit: Bitcoin is also showing bearish divergence. This is interesting considering I've seen on twitter/X that the US government has more bitcoin to sell from the Silk Road situation. A lot of things I've seen on twitter/X over the last few weeks starting to add up. We'll see if its true in the next few weeks.
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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.