ETHUSDT Weekly S/R| Key Standing High| Area of Resistance| PriceEvening Traders,
Today’s analysis – ETHUSDT – trading towards an area of resistance where a rejectin is plausible,
Points to consider,
- Price Actin Corrective
- Weekly S/R Resistance
- Key Swing High
- .618 Fibonacci Resistance
ETHUSDT’s immediate price action is considered corrective in a bear market, price is approaching a zone of resistance which allows for a bearish biases.
There needs to be a change in market structure which will highlight weakness, currently not the case.
The overall objective is the Daily S/R level situated at $1,190, testing this area will create a Trading Range.
Overall, in my opinion, ETHUSDT is a valid short, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee
