ETHUSD Short - Bearish Divergence on Daily
I see some exaggerated bearish divergence happening here. Price is moving sideways but RSI is moving steadily down. I am setting targets at the .5 and .618 Fib retracement levels from the previous swing low to high. If we close above the red line then this idea is invalidated. This has been a choppy period with many retail traders getting faked out over and over. Meanwhile the market makers know where they would like to buy at (and I don't think it is at the current price levels) so I wouldn't be surprised to see price dump some to get to the price they desire before moving up again.
Disclaimer:
Not financial advise. Do not trade this idea before you do your own technical analysis .
Disclaimer:
Not financial advise. Do not trade this idea before you do your own technical analysis .
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