I talked about it before, but just wanted to draw it out for everyone. Whenever we see diverging trend lines for RSI and price action, this is typically a sign some type of reversal is on the horizon. We like seeing these trends move in the same direction, so it's usually fishy when they're not. Three humps is a good amount to see with this which is where we are at. Since the $10k level is going to provide a LOT of resistance, there's a strong case for bears stepping in prior to this level and we will see a longer pullback to test longer supports.
Ethereum is getting stuck at the $274 level and isn't really seeing bull follow-through for continuation needed to make a new trend high. If BTC pulls back, the rest of the alt's aren't in for a good time as they're already weaker and haven't made a new trend high yet.
Personally, I'm sitting in all cash waiting for a bit more info and signals in order to make a decision about a position.
Hope you all had a great Monday!
