EthereumShort
ETH - The Game of Multi-Confluence
There are multiple confluences on the ETH chart:
- we are approaching the 0.618 retracement
- we have made a 1.618 extension from the base
- we have touched the channel high
- we are at the area from where ETH fell to $900
- we are at a high-volume area.
- we also reached the technical target of ETH in non-log scale (see my previous post)
Does this all mean that ETH will definitely fall from here? NO :)
There are no guarantees in trading. As traders, we should only take high confluence trades with a very effective risk management strategy.
We could easily break this level and go to the secondary target, which is around the all time high. (that's the technical target in log-scale)
Trading is risky and this is no trading advise.
- we are approaching the 0.618 retracement
- we have made a 1.618 extension from the base
- we have touched the channel high
- we are at the area from where ETH fell to $900
- we are at a high-volume area.
- we also reached the technical target of ETH in non-log scale (see my previous post)
Does this all mean that ETH will definitely fall from here? NO :)
There are no guarantees in trading. As traders, we should only take high confluence trades with a very effective risk management strategy.
We could easily break this level and go to the secondary target, which is around the all time high. (that's the technical target in log-scale)
Trading is risky and this is no trading advise.
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