Get started
Ethereum
Short

ETH Short

By FX_CouchPotato
Updated
ETHUSD

ETH is approaching the resistance, which almost exactly coincides with the boundary of a regression channel. Indicators show that a new HIGH is about to form. I am counting on bouncing off the resistance and heading back down to test 2.9K. The risk/reward ratio is not the best, but it is worth giving it a shot. The price could fall lower and test the support of the channel, but I will stay on the conservative side and place a take profit at 2939.
Note
Partially locking in a profit
Trade closed manually
Chart PatternscryptocryptomarketETHetheriumTechnical IndicatorsshortTrend Analysis
FX_CouchPotato

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.