ETHUSD Short
Updated
Ethereum is at a critical historical support area which is now acting as resistance (since we're below it, duh). Currently showing some buyer exhaustion looking at orderflow-data combined with my own internal indicators. Bearish divergences on RSI, MACD, and this time even your volume. Considering the illiquidity of these markets and the price level that we are at; a tight SL is recommend for this setup imo though this is a high chop zone so set carefully to avoid getting stopped out.
Note
So we pretty much sniped the top but bears just aren''t catching follow-through. Possible double bottom with a higher low. First time nobody knows, second time, everybody knows? Will be interesting to see how things play out at the 1660 area but will still be closing 33% of position to derisk.Trade closed: stop reached
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