ETH is consolidating at 1750 level, we are at the end of the weekend and has not move yet from the upper side area of the ascending channel between 1715 and 1780, for me it is a no trade zone until i see a pullback down to 1670-1720 area where a bounce could happened and than next target could be 1880 that is a liquidity zone just shy of 1900; to open a long position at the 1670-1720 area i need to see a confirmation so a nice bounce at this level unless i will stay out; need to see if the Dollar will open strong and how BTC will do, but i favour long position on pullback as the trend is still up, will change once bearish signal will start to flash out
Note
Bought a small position at 1728 like 10% but sold already for a small profit as i preferred to wait that and see if this bounce is real prior to maintained the position and i do not like Asia sessionNote
Second touched at 1720, the first bounce was rejected at resistance line, waiting time
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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.