EthereumUpdated ETH/USD - The Current State - Long and Short Call outs
We are in a descending channel from the highs that are holding very nicely. After the last bounce from support we pushed up to the top of the channel which was also a 1.272 target from the decline. We are drawing a nice flag here (purple lines) and I would expect the flag to fail and retrace to the bottom of the channel and find symmetry (red lines) before resuming up. If we break out above the channel I would be a bull but cautious around 360 for a pull back, other wise I would expect further retracement into this channel (potential buying areas would be when the channel line converges with symmetry and price hits.
I would see that as a very strong opportunity for a bounce!
Cheers
I would see that as a very strong opportunity for a bounce!
Cheers
Note
Bull flag is breaking down, possible short opportunities for near termtradingview.com/chart/c66bzoL2/
Note
Hope some people were able to catch this short, if you werent look for the long entry at the bottom of the trendline!Like if you made some money$$$
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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.