Last year around March ETH first peak just over 4000, and then in December ETH peak just over 4100 this also printed a high high on the price action but also a bearish divergences on the RSI. If you look at the 2 weeks time frame upwards you will see the divergences something like what happen in 2021-2022 season. For us to invalidate this pattern we need to Stoch RSI on the monthly timeframe to go above 24 with both fast and slow lines and we also need the RSI to take out the swing high from March 2024. How market cycle works if a coin could not of take out the swing high from the last cycle it will take out the swing low which in 2022 was 878, with this being said i think at sometime if ETH remains this bearish we will drop below this swing low and test the market structure from 2019 around 378-885.
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