ETH is getting ready for a drop to previous lows $168!
Hi everyone,
PureStructureNoBS is back and ready to give you top notch technical analysis. No fancy indicators, no random numbers on the chart, only pure structure.
ETH is in another bear flag and its target is $168 area, its previous low. We could drop down from here, specially if $196.4 doesn't hold, but it seems to be having a decent bounce from this support area so it can be expected to reach the top of the bear flag. I recommend going short in that area for a low risk high reward scenario.
Best of luck everyone
Feel free to comment and share your ideas
PureStructureNoBS is back and ready to give you top notch technical analysis. No fancy indicators, no random numbers on the chart, only pure structure.
ETH is in another bear flag and its target is $168 area, its previous low. We could drop down from here, specially if $196.4 doesn't hold, but it seems to be having a decent bounce from this support area so it can be expected to reach the top of the bear flag. I recommend going short in that area for a low risk high reward scenario.
Best of luck everyone
Feel free to comment and share your ideas
Comment:
I also want to mention the false bull break at the right end of the blue triangle. There are many traps happening on this market, specially bull traps. I got caught up on this one and many others before. The key is having a good risk-reward strategy. Minimum 2:1 but 3:1 is the best way to keep growing your account at a steady pace
Trade active:
Here is a short entry with a 10:1 risk reward
Comment:
A break of 201 would be a clear bear break of the bear flag.
