ETH/USDT : When to take SHORT ? ETH/BTC's chart included !
Updated
ETHUSDTHello everyone 😃
ETH has reached the 1st historical resistance and it just take hold above it.
Now the next one is standing at ~$2950 !
Higher resistance is just gets very stiff with the 3H's order block..
Also Volatility is standing at buy limit zone and there's a bearish divergence on RSI !
So technically it needs to cooldown...
However there's no major correction till 12th of August in my mind, But there is a possibility to face another demi leg down.
Have to mention that I'm not expecting any high above 42K for BTC; But if BTC engulfs above $43650, Then my SHORT's zone will be changes above $44600 !
So you can have a SHORT position for BTC too.
🔴 Both SHORT scenarios will be invalidate with 90% if BTC engulfs above 46K.
Also on ETH/BTC's chart :
ETH just broke the last resistance and confirms the hold with a bullish order block there !
The support zone is the level that we expect another leg up for ETH to reach our higher SHORT zone..
🔰 BTC needs to hold above 40K for another bounce on ETH/USDT's chart !
📚 You can use the SHORT setups for BTC on my latest idea linked below...
Hope you enjoyed our analysis about ETH's possible SHORTs🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
Helical_Trades
Note
BTC just engulfed the $43650 level.
Now our 1st SHORT has been stopped out ( after taking profit ); And our 2nd SHORT is in play !
Daily MA200 is standing in our entry zone and it's can be a good opportunity to take advantage..
Have to mention that the SL is so tight ( $52 above entry, Less than 0.2% ).
So it won't take us high risk.
⚠️ Remember, Any engulf above 46K will change the major direction with 90% chance and we'll directly targeting 58K and ATH after engulf !
📝 Also our ETH's SHORT is still running, How ever I got SL out with a hunt above it ( my bad ).
But I decide to follow my main strategy for BTC..
I will answer the comments tomorrow; Thanks for your patients...
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