Someone requested ETHUSD... here is what I am seeing.
As internal momentum for trend is measured with the ADX indicator, the latest price move to the upside was on falling momentum. This divergence should help bring selling interest along the bearish trend line that is being tested at the moment. A move back to the 61.8% level is imminent and the price should shove right through that and move back to the previous low (and most likely make a new low)
The only thing to negate this call is for the price to breach the bearish trend line to the upside and then re-test that line as support with backed momentum for the change in trend. Otherwise, wait for lows!
Any questions let me know.
As internal momentum for trend is measured with the ADX indicator, the latest price move to the upside was on falling momentum. This divergence should help bring selling interest along the bearish trend line that is being tested at the moment. A move back to the 61.8% level is imminent and the price should shove right through that and move back to the previous low (and most likely make a new low)
The only thing to negate this call is for the price to breach the bearish trend line to the upside and then re-test that line as support with backed momentum for the change in trend. Otherwise, wait for lows!
Any questions let me know.