ETH has had a fantastic run up, As of now indicators are starting to look overheated, I outlined some potential upper lines of a pennant formation, as well as a parallel channel scenario as well. Some further upside is possible even though rsi's are overheated (stoch and regular), volume has been declining as we've moved up, and money flow is showing negative divergence. My thinking is that some more juice up is possible due to the relative volume gap seen in the profile. Nonetheless I'm anticipating a decisive point of resistance to form, yielding either a larger scale bearish pennant or a parallel channel.
Note
A closer look at rsi'sNote
And a closer look at wave trend + money flowNote
Edit, a rising WEDGE would be the hypothecial pattern outlined by the upper pink lines.
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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.