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
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 ⚔️
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
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 ⚔️
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.