Ethereum Analysis (ETHUSD) 04/09/18

Hello World,

In this post we will have a look at BTCUSD on Bitfinex and talk about the trend and upcoming moves.

Big Picture

Travelling in a ascending channel following the latest breakdown suggests some sort of consolidation and we did have a few days of upside this august. But with a hidden bearish divergence on the Daily and inability to break the channel's middle line and go above the 21 EMA we were sent to lower prices again suggest continuation of a bearish trend.

Closer Look

Following the bearish divergence on the 4H we are going down and retesting (still) the upper side of the triangle. The low volume of the triangle breakout may suggest it is possible that the triangle pattern was not complete and we have to re-plot it using the high of September 1st. Thus, we could be still inside the triangle and with all the bearish divergences and now trading below all the MA's looking to break down from it.

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*** Legal Disclaimer***: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs.