Ethereum - bearish divergence alert - Dec 19th, 2024

anteontem

** Trigger warning - the following post may cause skin irritation and involuntary expletives **

The entire market is bullish on Ethereum.
All of social media is bullish on Ethereum.
The Motley Fool is even bullish on Ethereum (Huge red flag!!)

“Ethereum looks undervalued relative to its potential”

source:
fool.com/investing/2024/12/17/should-you-forget-bitcoin-and-buy-ethereum-instead/

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The TA:

Your only source of news should be the chart. The chart has a headline for you to read:

“Strongest bearish divergence print since the 90% and 80% crashes of 2018 and 2021”

Yes, the same specific settings used to track market pivots with divergence on Ethereum price action has printed once more.

On the above 8 day chart price action prints negative divergence with multiple oscillators over an 80 day period. The bear flag forecasts price action to correct until $700.


If you’re bullish on price action you have to reason why… why is this time different?
(Trump said... yes, would never mislead that one)

If you’re neutral on price action and considering a long entry, look left, is now that moment?

If you’re bearish on price action, well then you’re in poor company and public enemy number one. Welcome to my world!


Is it possible price action continues to rise? Sure! We’re in a bull market, din’t you get the memo?

Is it probable? No.

Ww