ETHUSD Bearish rising wedge or Bullish leading diagonal?
ETHUSD is pretty much at its local top on this rising wedge pattern and will likely see some resistance from here on bearish 4-hour divergence. However, other Cryptos only retraced 0.236, went sideways and have broken bullish with volume (XLM for example) thus creating a leading diagonal. I have been stopped out on several short trades and will be watching any failed breakdown on my ETHUSD short to get out on a small profit (or loss) if this turns out Bullish.
This could also be a warning for the global markets, watch how SPY breaks down, no volume and we could see a final wave 5 push to new highs.
This could also be a warning for the global markets, watch how SPY breaks down, no volume and we could see a final wave 5 push to new highs.
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