Unless something unexpected happens, BTC weekly line RSI divergence has formed
#以太坊重回2600美元
┈➤ BTC weekly line RSI divergence
This week’s close is higher than the Aug 31 close of 80,347, but both RSI6 and RSI2 are lower than Aug 31.
RSI6 is very obvious; RSI12 is not that obvious. As shown in Figure 1.
┈➤ BTC daily chart: the second wave upswing RSI does not show divergence
This doesn’t mean it will necessarily go down from now on. If you look at the daily chart, there still isn’t any divergence.
In the May scenario (from Ketch), after the first wave divergence, there was a pullback; for the second wave, price should probe higher again and create an RSI divergence once more to confirm that the upswing has failed. As shown in Figure 2
┈➤ ETH weekly line RSI shows slight divergence
Compared with BTC, ETH is in a better position. At the weekly level, RSI12 is clearly rising; RSI6 shows a very slight divergence that is almost imperceptible to the naked eye.
┈➤ The US-Iran situation may be key
Of course, Ketch’s significance is limited. It’s possible to see one more divergence after the first, or that price just won’t break higher anymore.
Brother Feng thinks that right now the US-Iran situation is the key. Iran has proposed three fairly reliable conditions:
If both sides reach an agreement—even if it’s only for a phase—that’s a positive signal;
If both sides fail to reach an agreement but continue negotiations, Brother Feng feels there could be one or two more attempts to push higher;
If both sides can’t talk it through and the conflict escalates, or even if Europe joins in, then that would be a negative signal.
#以太坊重回2600美元
┈➤ BTC weekly line RSI divergence
This week’s close is higher than the Aug 31 close of 80,347, but both RSI6 and RSI2 are lower than Aug 31.
RSI6 is very obvious; RSI12 is not that obvious. As shown in Figure 1.
┈➤ BTC daily chart: the second wave upswing RSI does not show divergence
This doesn’t mean it will necessarily go down from now on. If you look at the daily chart, there still isn’t any divergence.
In the May scenario (from Ketch), after the first wave divergence, there was a pullback; for the second wave, price should probe higher again and create an RSI divergence once more to confirm that the upswing has failed. As shown in Figure 2
┈➤ ETH weekly line RSI shows slight divergence
Compared with BTC, ETH is in a better position. At the weekly level, RSI12 is clearly rising; RSI6 shows a very slight divergence that is almost imperceptible to the naked eye.
┈➤ The US-Iran situation may be key
Of course, Ketch’s significance is limited. It’s possible to see one more divergence after the first, or that price just won’t break higher anymore.
Brother Feng thinks that right now the US-Iran situation is the key. Iran has proposed three fairly reliable conditions:
If both sides reach an agreement—even if it’s only for a phase—that’s a positive signal;
If both sides fail to reach an agreement but continue negotiations, Brother Feng feels there could be one or two more attempts to push higher;
If both sides can’t talk it through and the conflict escalates, or even if Europe joins in, then that would be a negative signal.
