ETHBTC Effective Short Trade Based on Inverted H&S and S&R

Here on ETH/BTC we can see that the inverted head and shoulders pattern already played out after the sudden bullish gains starting yesterday evening. Combining the fact that the sudden boost reached a hard point of resistance (S/R flip) I suggest a short position here for a trade set-up.

It is not common that the price keeps going upwards after such a strong unsustainable boost in the price. I expect a small correction first, where the bulls take time to collect some money for their second attempt of burning through that resistance. We can monetize this scenario by using a short set-up.

Longterm I am still bullish on ETH, so make sure you set a tight stop-loss. Short term, let's use this fantastic scalp opportunity.


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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

Trade active:

So far everything looks really good:

We're getting at the point that it will be too late to enter the trade still. Let's see if the ETH bears can push through!