Ethereum / BitcoinLargo
ETH/BTC daily: Hidden Divergence / Trend Reversal
Actualizado
Looking at the 50-day linear regression channel on the ETH/BTC dailies, there is a clear downtrend.
Although price had a break-out of this channel to the upside, we still see lower highs.
While we're seeing lower highs on the price chart, we also see higher highs on the commodity channel index.
These are clear signs of a hidden divergence. A hidden divergence is always an indicator for a possible trend reversal.
And since RSI is still not overbought (52.77), there's potential for the price to reverse and move up to the monthly pivot point at 0.071586
Although price had a break-out of this channel to the upside, we still see lower highs.
While we're seeing lower highs on the price chart, we also see higher highs on the commodity channel index.
These are clear signs of a hidden divergence. A hidden divergence is always an indicator for a possible trend reversal.
And since RSI is still not overbought (52.77), there's potential for the price to reverse and move up to the monthly pivot point at 0.071586
Operación cerrada: objetivo alcanzado
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