ETH Retracement Incoming
Bearish divergence in the oscillator and prices have been extended way above the 50 and 200EMA without retracements. Volume is also low. Expecting a retracement to test support levels.
Alternative scenario: a miraculous pump into the green box before correction (seems like a lower probability).
I'm net short and will be scaling up if prices continue to go up from here.
Alternative scenario: a miraculous pump into the green box before correction (seems like a lower probability).
I'm net short and will be scaling up if prices continue to go up from here.
Note
Nice short term bounce in the daily 50EMA.Trade closed: target reached
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