Evening 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
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
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.