Parallel Channel or Pennant? Hypothetical patterns for ETH.

16 เม.ย. 2023

ETH has had a fantastic run up, As of now indicators are starting to look overheated, I outlined some potential upper lines of a pennant formation, as well as a parallel channel scenario as well. Some further upside is possible even though rsi's are overheated (stoch and regular), volume has been declining as we've moved up, and money flow is showing negative divergence. My thinking is that some more juice up is possible due to the relative volume gap seen in the profile. Nonetheless I'm anticipating a decisive point of resistance to form, yielding either a larger scale bearish pennant or a parallel channel.

16 เม.ย. 2023

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A closer look at rsi's

16 เม.ย. 2023

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And a closer look at wave trend + money flow

19 เม.ย. 2023

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Edit, a rising WEDGE would be the hypothecial pattern outlined by the upper pink lines.