I think that in these scenarios's the squeeze momentum oscillator can provide an interesting indicator. I also see a Head and Shoulders developing. It could be indicator of further downside (like 2017-ish). If proved false, then: buckle your seatbelt dorothy, because kansas is going bye-bye!
Based on the squeeze momentum oscillator and RSI , I believe chances are high that ETH might take off again. Support has been tested twice but bulls are not giving up just yet!
My first idea here. I wanted to point out what I noticed about current euphoria in the market. Combined with a significantly overbought trend. Used Fibonacci Bollinger on 30day frame + Buffet Indicator
Both crypto and indexes are on a crossroad. Will they move further up? Or will correction come? YouTube is covered with BTC to the moon videos last weeks... It seems that it depends on if the hype kicks in. I personally expect a further upside and break ATH within 8-10 days. If not, then massive drop. Let's see how it plays out.
Looking at 2 indicators (Buffett Indicator and Squeeze momentum), one could see that the market is overbought and due for a correction. What's also interesting is to see that it's currently building momentum. Where I expect that the resistance will be tested in a last push and then a bearish cold winter. Fascinating times ahead. Because if it's going up, then we...