ETHUSD storm incoming
ETH/USD COINBASE:ETHUSD
ETHUSD daily MFI is above 90, which is a rare event that is almost always followed by a fast dump when the MFI crosses down below level 90. The middling value of RSI and the metric ton of overhead resistance only adds fuel to the fire. ETH might be able to pop-up to overhead resistance over the next couple of days, but the risk to reward ratio isn’t worth it. The ideal trade setup here is to short if ETHUSD can pop-up into resistance. Right now, patience is the key. Regardless of PA in the near term, wait for the MFI <90 downward cross, and then prepare for the storm.
