ETHUSD - Breakout from either divergence to set short term trend

Aug 25

The fate of ETHUSD in short term lies in break out from either of the two divergences printed on MACD. I think bearish divergence is more strong and will prevail. In such scenario price will break down from immediate support zone where we have bullish divergence and will then likely reach the next support zone. In case we see price breaking out of resistance zone where we have bearish divergence, then price will continue with its trajectory to reach next resistance zone. Lets see what transpires.

Aug 27

Trade closed: target reached

Target reached as per expectation