Short ETHUSD to 165
Ahoy there!
Ethereum has formed multiple tops since its original breakout. It is clear that the 180-181 range has now become resistance for ETH. I believe that we will be testing the 180 range once more in the next two hours and then from there falling back to at least 174-175. If it continues below the lower bound of the channel then 165 is a strong possibility.
Another indicator I found interesting here is how close we are to a downwards MACD cross on this 30m chart. Not only that but a cross down that has been denied multiple times, and now it is indicating that the divergence is even greater than the original breakout at 201-200.
I am actively trading this on leverage. I have entries in 177-179 range and am hoping to snag a few 180s if possible. I will be taking profit at 175 (given the volatile nature of both ETH and the contracts). From there I will be waiting for maybe another rebound to short again, and if it continues past 173 I am holding until 165.
At 165 I will reassess this trade before making any other entries.
Happy trading mates
Ethereum has formed multiple tops since its original breakout. It is clear that the 180-181 range has now become resistance for ETH. I believe that we will be testing the 180 range once more in the next two hours and then from there falling back to at least 174-175. If it continues below the lower bound of the channel then 165 is a strong possibility.
Another indicator I found interesting here is how close we are to a downwards MACD cross on this 30m chart. Not only that but a cross down that has been denied multiple times, and now it is indicating that the divergence is even greater than the original breakout at 201-200.
I am actively trading this on leverage. I have entries in 177-179 range and am hoping to snag a few 180s if possible. I will be taking profit at 175 (given the volatile nature of both ETH and the contracts). From there I will be waiting for maybe another rebound to short again, and if it continues past 173 I am holding until 165.
At 165 I will reassess this trade before making any other entries.
Happy trading mates
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.