Trying this to cover my altcoins slightly. Seems like a smart move right now. SL somewhere around 0.0375 if that level is flipped into support and the divergence invalidated

First warning if you are positoned in altcoins. $ETH vs $BTC hourly chart. Have a look.

Bear divergence has developed on the 1hr, and only 1hr so far.

But what's really interesting is that the Triangle's technical breakout Target has been hit perfectly at 0.0374, and that has been the local top, now acting as resistance in confluence with the upper trendline of my highlighted Rising Wedge, which is a bearish chart pattern (Target at 0.333, but lets not worry about this rn).

The Bearish Divergence on RSI needs to be monitored on higher timeframes, if you want to be relatively secure today.

The breakout above 0.0375 could be a potential trade, however there is some serious s/r level from the Daily chart at 0.0.383. So I would like to see that conquered first.

Happy Sunday, more technical analysis incoming soon, including eth/btc daily chart.