“If you can't explain it to a six year old, you don't understand it yourself.” -Albert Einstein-
ETH/USD
- Clear double top forming on the 4H chart which is a signal of more downwards action coming in the following days.
- Watching closely for a drop towards the 850$-950$ area for potential buy opportunities.
- If we look at the RSI it was hovering for a few days in the overbought area but is currently declining slowly as well as the price of ETH.
- By looking closely to the MACD we see how the bearish cross has happened already indicating we are currently in a downwards move which has as of yet to find a bottom. Looking at 900$, 820$ for a potential bottom before a continuation towards ATH.
- As always thank you for your support and if anyone has any opinion or critique about my point of view I would enjoy reading your comments and beginning a conversation with the community.
Remember, nobody can predict the price of cryptocurrencies accurately and anybody claiming the opposite is probably trying to claim your attention and your money. Predicting the price of cryptocurrencies is akin to predicting the weather; the further into the future you try to predict, the bigger the deviation and error rate will be. This is due to the fact that in a complex system involving thousands of variables, some which are know and others which remain unknown, an accurate prediction can only happen if every single variable is correctly accounted for.
Chad trader from ClearThoughtCrypto