Ethereum / TetherUSShort
ETHUSDT back to 450$
After price tested 2200$ mark, which was an open short Hedge position of big ppl. price rejected the previous secure zone of this Short Hedge, = around 3200$
This rejection around 3200$ tells us that Institutions caught heavy short positions above 3200$ and didnt closed them yet bc they still secured 3200$ mark.
Right now Institutions have a last Long Hedge position open around 2900$, price will come back to 2900$ and they will close their long position BE to push price further down back to 450$ mark.
450 $ is target bc its clear that there will be the last Short Hedge Positons of Institutions gonna be closed BE.
This rejection around 3200$ tells us that Institutions caught heavy short positions above 3200$ and didnt closed them yet bc they still secured 3200$ mark.
Right now Institutions have a last Long Hedge position open around 2900$, price will come back to 2900$ and they will close their long position BE to push price further down back to 450$ mark.
450 $ is target bc its clear that there will be the last Short Hedge Positons of Institutions gonna be closed BE.
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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.