Clear Bullish Divergence on ETHI usually only post if I feel really confident now because I realized you can't even edit your text. That being said, I've been watching the charts for a verrrry long time now and I personally believe its safe to say I found something worth looking at.
I decided to label the chart for any new investors please leave me criticisms and details/things I cant improve on for future posts.
Enjoy
I don't know much when it comes to psychology, but I know divergence when I see it.
I feel like Michael Burry.
D = the overall trend of the market, although we broke below the support, we still have a bounce off the previous lower low and a confirmation of a close above said support.
A = The reason you're here. We have a clear bullish divergence pattern, we can see the Orange lines are running away from each other and opening up. This pattern usually indicates signs of oversold activity correlated with a higher low. May I remind you that when looking for divergence, make sure the lower lows/higher highs are consistent with your indicator's lower lows/higher highs.
E =50 Day Moving average is the line that averages out the price chart over the specified time frame
B = This area I see as a very heavy resistance which we will MOST LIKELY see a pullback, hopefully (of course) obtaining a higher low in the process.
C = This line is just to give everyone an example of what I'm visualizing. No, I don't expect it to play out this way to the exact drawing, however, I don't expect a quick play, if you're here for a nice 100% gain over a 12 month period, go earn some interest on that and maximize that 4.5% yield.
Haha all affiliate aside, I am very confident of this play and I would like to say, anyone who is just scrolling for a quick way to make money, go away because the ups and downs really do get felt especially if you are using the capital you say you can afford to lose. As well as it nothing may happen at all and we could go sideways, we could even go down and you must be ready, actually ready so you don't panic.
Sorry for the speech but make sure to actually know what you can LOSE and your investing journey becomes amazing.
Good luck everyone
Cheers
