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ETHUSDThe main reason im bullish at this moment is due to there being potential bullish rsi divegence between the rsi having a double bottom with there being a lower low in recent price action. I believe that we have just finished a "abc" wave pattern and may be ready for a retes of the "b" wave anywhere between 61 -100 percent. Which would create a double top. I this happens, I would expect the current wave to form into a 2 wave with price going lower in the future. If price goes below 1570, we have a sell stop set there as this could form into the "c" of a downwards "abc" wave which would then be considered the end of an head and shoulders. Either way, we are in a corrective state here considering the stage of price action we are in. Let's see what happens.
BITSTAMP:ETHUSDLong
by Redimere_91