High RW opportunity: short ETPUSD, potential double top forming
Updated
We're looking at a >6x opportunity here. A double top seems to be forming
Stop: ~$4.1
TP: ~$2.2, ~$2.7
- RSI bear div on 4hr and daily.
- MACD flipping over with bear div on 4hr, seems to be slowing on daily.
- Descending volume the whole way up
- Longs through the roof with absolutely no stopping
- Seems to be losing steam this rally
Stop loss is above double top invalidation, taking into account some resistance levels. Watch BTC also, if BTC continues to rally, it'll likely take ETP with it.
Target is at what appears to be horizonal support + potential neckline for double top completion. To be safe, I'd take profit at several support levels.
Trade safely and USE A STOP LOSS! The worst thing that can possibly happen when trading altcoins is being stuck in a nasty short! It's a surefire way to lose all of your money. Altcoins don't f*ck about when they go on a launch mission.
Stop: ~$4.1
TP: ~$2.2, ~$2.7
- RSI bear div on 4hr and daily.
- MACD flipping over with bear div on 4hr, seems to be slowing on daily.
- Descending volume the whole way up
- Longs through the roof with absolutely no stopping
- Seems to be losing steam this rally
Stop loss is above double top invalidation, taking into account some resistance levels. Watch BTC also, if BTC continues to rally, it'll likely take ETP with it.
Target is at what appears to be horizonal support + potential neckline for double top completion. To be safe, I'd take profit at several support levels.
Trade safely and USE A STOP LOSS! The worst thing that can possibly happen when trading altcoins is being stuck in a nasty short! It's a surefire way to lose all of your money. Altcoins don't f*ck about when they go on a launch mission.
Note
Here we go!Note
Still validTrade closed: target reached
lol
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