Short

ETHUSDT Local S/R| 200 MA| Daily S/R| .618 Fibonacci

Evening Traders,

Today’s analysis – ETHUSDT- trading below Local S/R where further downside is probable,
Points to consider,
- Price Action Impulsive
- Local S/R resistance
(200 MA Confluence)
- .618 Fibonacci Objective
- Declining Volume

ETHUSDT’s immediate price action is trading bearish under local S/R allowing for a short term bearish bias with the 200 MA being in confluence.

The .618 Fiboancci is current objective, price action is likely to respect this level for a bottom fishing entry.

The immediate volume is below average, an influx is highly probable when testing key trade locations.

Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone

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