welcome back it's the 20th of november 2020 friday it's a freaking weekend it's the fifth day of the week. So have yourselves a great weekend ahead of you. We are at number two ethereum with the ticker edh what's up vitalik buttering for the bdc we are in a okay. The thing i don't like about this is that we are already crossing the skinny pink line, it's very important uh for things to remain bullish, uh. The very important criteria is, we have to be above the skinny pink clan. We must not be below the skinny pink line, however uh. The positive from this move is that uh there is a potential double bullish. Divergence coming in right, lower low on the price higher low on the macd higher low on the rsi. Potentially, that could be the case for ethereum. The thing is: um we're, not exactly sure, yet it has yet to start curving back up. So we still don't know how much lower things are going to go right, there's, a potential that um. If it is against bdc, we could still drop all the freaking way down right who dropped all the way back to sub 0.02 right now, we're at 0.026, so it's still a long way down for a theorem against bitcoin, so yeah. I still feel that potentially things could be about to switch bullish for ethereum uh. I don't think this is going to be and inverse here and showed us any more uh what we were saying that this could be a left shoulder.
This could be a hit, and then this could be a right shoulder and then pum. It could be rising up for a theorem against bc. However, i don't think that's the case anymore uh, i think more likely than not uh. We should be punching lower for ethereum against btc uh. There could be a rally, though, but uh i feel like. Potentially things could still drop much lower for a theorem against btc right things are already becoming weak right. Imagine if uh, if things were bullish right, there will just be a small correction and we will continue on our bullish move towards the upside right. So you can see that when ethereum turns bullish, it just goes on the rampage. It doesn't really care right, but look at this. This is just too too steep. You know this is not something which i would consider as a bullish move right. This is looking like a mountain we're, already completing a horizontal mountain. We could complete another mountain in mountain and mountain and palm it could be dropping for a theorem against btc, so be very careful about going to a trade too soon, all right, let's move on to ethereum against usd, but before that, please give this video a like. If you enjoyed it subscribe to the channel – and let me know what you think about ethereum in the comments below four theorem against usd yeah there's, already a higher high marginally higher highs and um, you can see on the macd, there is already a double bearish divergence On the rsi it's a double bearish divergence, so there could be a reversal coming in for ethereum against usd towards the downside.
The positive thing about this move is that we are still above the skinny pink line. As long as you are above, the skinny pink line, things remain bullish. However, once you see a marginally higher high, potentially this could turn into a inverse head and shoulders right. The skinny pink line could be a neckline and eventually palm we could be dropping uh lower for ethereum against usd right. Things could start turning bad for ethereum against usd again. Even this uh chart pattern. Wasn'T a proper chart pattern, wasn't a proper tradable chart pattern marginally higher high kind of a move is not something that we are comfortable with, and so i think eventually there should be some sort of a correction. How low are we gon na go? I have no idea uh. Could we go higher sure? Of course, why not um but yeah? I don't really like this. Once you see a higher high, be very, very careful about going long, absolutely careful right! So you know things are not really that perky for ethereum anymore, so be very, very careful about going to a trade too soon, all right, i guess that's it for my ethereum technical analysis. Thank you very much for watching. I hope you enjoyed it.