ETHUSD Short Opportunity - H4 VIEW - 31/1/2021
Hello traders !
As you can see,price is consolidating in a Rising Wedge pattern and is retesting its weekly resistance level. I expect price to fall to its support trendline. From D1 TF you can see RSI divergence. Here I expect two scenarios.
1) Price will bounce and ETHUSD will rise again.
2) Price will break through and will continue falling.
I prefer the second scenario because it also fits with my weekly analysis (Link Below).
Thank you for reading !
As you can see,price is consolidating in a Rising Wedge pattern and is retesting its weekly resistance level. I expect price to fall to its support trendline. From D1 TF you can see RSI divergence. Here I expect two scenarios.
1) Price will bounce and ETHUSD will rise again.
2) Price will break through and will continue falling.
I prefer the second scenario because it also fits with my weekly analysis (Link Below).
Thank you for reading !
Related publications
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.