SUMMARY
There is a breakout in the Ethereum (ETH) MACD!! The yellow circel in the below chart shows the piercing of the upper yellow line taking place. However, price has not breached the upper blue line. While there is a scenario for a potential lower low as shown by the blue arrow line, the white impulse 1,2,3,4,5 shows a more likely pathway. This first round of five waves up is essential to start the trend reversal.
Here is the daily MACD for ETH. It's MASSIVELY OVERSOLD! That means SELLERS are ALL leaning on the same side of the boat and that's NOT sustainable. Note also the higher lows the red histrogram has been making. This is a preamble to a MASSIVE blow up for the daily MACD. Would now be the best time to be taking selling or buying actions? IF you were short ETH, would now be the best time to be taking "Buy to Cover" or Sell Short more?
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