I believe we are currently seeing Cindicator in an accumulation phase. This is confirmed by the ADX trending below 20-25. We are seeing some weaker bullish divergences being created. This RSI div is a bullish regular divergence—however, as price make a lower low, the RSI only double bottoms. This indicates it is a moderately strong divergence.
I have highlighted two areas I am looking to accumulate in. However, I wouldn't be surprised if we do not reach lower prices. There is an enormous amount of support here, and without a bearish crypto catalyst I think this price level will hold.
I am a bit nervous considering the ETHBTC chart, however, this one seems to have bottomed out.
Don't get shaken out by small movements, we are trading in a strong weekly bullish OB. The range of this weekly bullish OB is shown on the daily chart by the two green horizontals. It will take a lot of sell pressure to get below this level in my opinion.
I have highlighted two areas I am looking to accumulate in. However, I wouldn't be surprised if we do not reach lower prices. There is an enormous amount of support here, and without a bearish crypto catalyst I think this price level will hold.
I am a bit nervous considering the ETHBTC chart, however, this one seems to have bottomed out.
Don't get shaken out by small movements, we are trading in a strong weekly bullish OB. The range of this weekly bullish OB is shown on the daily chart by the two green horizontals. It will take a lot of sell pressure to get below this level in my opinion.
