ETH/USD like most major crypto pairs is shaping up for long positions. In the above technical setup, we'll wait for ETH/USD to break through the triangle of resistance formed from the symmetrical triangle, horizontal resistance, and fib levels. As always after an inertial breakout, wait for the candle to close and retrace before entering your position.
Even if this exact setup doesn't execute, I highly discourage any short positions on this crypto pair regardless of any technical setup pointing to downward movement.
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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.