jacobcanfield
Short

Ethereum Looking Bearish Here... May Be At The Top

BINANCE:ETHBTC   Ethereum / Bitcoin
Adding a low leverage short here and will add more a little higher.

You can use the ETH/XBT pair.

Look for a 38.2/68.1 pull back from here.

Won't re-enter until I see volume confirm.

  • Hit the 161.8 target.
  • Bearish Volume
  • Bearish Div on RSI
  • Strong Supply Order Block
  • Rising Wedge
  • Testing 100MA
Comment: 61.8% target hit at 10X leverage. (Moved stop to profit and above short term resistance on the 30min and will hold for a potential wedge break.)
https://cdn.discordapp.com/attachments/5...

I'm using the Binance chart instead of the bitmex chart for my example due to the fact that Trading View doesn't have the ETHXBT pair for bitmex. The same targets apply though.
snapshot


If this rising wedge does manage to break, look for a target at the 127.2 or the 161.8 levels.
snapshot
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You still bearish with all the positive FA atm? Forks etc.
I'm leaning bearish, but the forks make me think it might have some juice to go higher.
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61.8% target hit at 10X leverage. (Moved stop to profit and above short term resistance on the 30min and will hold for a potential wedge break.)
https://cdn.discordapp.com/attachments/516616784070311956/531118245135253514/unknown.png

I'm using the Binance chart instead of the bitmex chart for my example due to the fact that Trading View doesn't have the ETHXBT pair for bitmex. The same targets apply though.


If this rising wedge does manage to break, look for a target at the 127.2 or the 161.8 levels.
Reply
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