I followed this ETH bear move yesterday and it declined more than %2. So I decided to take a good look at it this morning.
This is the move in 4H, watching the trendline which will complete the "M" move, which indicates a bearish move, then my second confirmation is the convergence and divergence signal using MACD and RSI indicators which are showing a downward trend which is opposite to the market move.
If this actually breaks and sells as I anticipated, note it will only be "A DAY" trade on sell as observe it together.
If you are a trader and you know more about trendlines do well to check on 1D and 1W moves because they are giving a bullish signal, that will help you set your take profit(TP) in case of retracement after the bearish run.
I had a conversation on this with @taskmaster4450le yesterday. Well, let me know your say about this chart.
Thanks.
#traders analysis...
