Ethereum is very resilient, but the bearish forces seem to be taking over. A diverging daily RSI is one of them.
This is the operative counts. The red count was invalidated and I am watching the remaining two:
- Green (primary).
The correction is not over. A very complex wave B is in progress, possibly wave (a) of B.
Technically it could even make a new higher high, but better not to, as another very bearish count will open.
The bottom is in and wave iii has or about to be completed. After a retrace in wave iv, expect a rally in wave v.
The daily candles printed Three White Soldiers, but right into the upper BB. With such diverging RSI, $ETH must pullback very soon. The depth of the pullback and the character of wave will be the deciding factors for the winning count.
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