Ethereum has been quite strong the last couple weeks, but it appears to be losing momentum. Bitcoin is looking weak, and could take down the ETH dollar value with it. Just before the ETH crash of Dec 22, the MACD started to turn down and lose momentum after rising for 11 days. ETH/USD had also been touching the top bband for the same amount of time on the daily. We then had the crash to the $480ish mark, right at the middle bband, and the MACD flipped negative for 10 days before we made new highs. I think based on traders being traders and respecting the momentum and flow, we will repeat this action in a similar way. The daily MACD is about to flip down, but now the middle bband is near the $1k mark, where we will test before making a run at new highs.
Thank you for your analysis, @omarcus! I agree with you and also feel bearish on ETHBTC:
