01/17 Crypto Weekly Update

Past Week Performance

Last week we successfully called the breakout of the triangle and then the local bottom of wave a.

We spotted the bottom as the price formed an expanding ending diagonal with divergence on the RSI indicator (see below).

Next Week Outlook

This week we anticipate a resumption of a decline, as to when exactly - this is yet to be confirmed. Waves b are difficult to forecast as they can take almost any shape. Follow our Daily Analytics for any signals.

ETHUSD, 2-hour chart