Buyers abound and have tried to roll the dice but had no success in moving higher thus far. As a result a squeeze bar popped up offering a good entry for shorts. If theres a leg up fated to fail from the get-go its a flash crash case. I see it as wave 3 of a leg A of a leg Z in a triple zig zag. When the squeeze is over the next impulse down must carry enough weight to drown out the bull noise and send the price to as low as 0.01066666.
Trade active
Calling 0.01366666. As said, no short covering until then. I have protected my downside many times since 04.14 and feeling good about it. Eth is on fire and nothing is capable to extinguish the blaze or prevent leg 3 from being carried down the road.Note
The area of a new low from yesterday has witnessed an emergence of a rounded bottom and its reverse impact on the prices. Each downtrend continuation delay does nothing but squeezes shorts and then artificially restrained trend resumes in the primary direction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.