ETH is going down. Opportunity to short
Yesterday's price action unlocked profit opportunities for Data Money followers to make ~8-12% profit. Great yields for executing 2-3 trades per day, congratulations on your wins! 🏆
The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today.
Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑
Today's technicals:
Position is short (if you can keep your eyes on the ball, long and short as yesterday)
Forecasted highs at $1830 & $1860
Mid-way point at $1815
Forecasted lows at $1730, $1700
Have a great day trading! đź’°
If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today.
Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑
Today's technicals:
Position is short (if you can keep your eyes on the ball, long and short as yesterday)
Forecasted highs at $1830 & $1860
Mid-way point at $1815
Forecasted lows at $1730, $1700
Have a great day trading! đź’°
If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
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.