Short

Potential Scalp - RSI + Volume Based Reversal

A potential Short position is available whether or not we will be able to see a break from bullish ranging support levels. Over the past 2 days we have seen a major bullish push and now we may be able to snare a small to medium reversal back to retest some major bullish volume based price lines.

Some food for thought for your weekend trading.

Obviously with the bullish sentiment due to the recent rate cuts we must be diligent, however we have seen a major non circulating chainlink deposit into binance over the past 12 hours which may in the short term push prices lower. Potentially adopting the same mindset in Ethereum.

Note

BIG MOVE POTENTIAL - 150,000 ETH moved onto exchanges over last 24 hours. Potential reversal looking quite possible

BULLISH ARGUMENT- Market sentiment paired with FED Rate cuts draws large interest in crypto investments

BEARISH ARGUMENT - Large number of tokens added to exchanges could trigger a large sell off along with investor fear causing a plausible market drop.

Data_Driven_Trading

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