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Bullandbeartrading
Aug 30, 2019 10:06 PM

ETH/USD Trade Idea Short

BITFINEX:ETHUSD120
Ethereum / DollarBitfinex

Description

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Hello and welcome to my Trade Idea of the currency pair ETH/USD.

Lets start with the Top Down Analysis.


Monthly: The last month was bearish and the candle now is also bearish.


Weekly: Weekly is bearish and the market has broken the counter trendline.


Daily: The daily timeframe is in a downtrend too.


H2: On the h2 timeframe we draw the pennant pattern and expect new lows.


Have a nice day.
Trend AnalysisChart PatternsTechnical IndicatorsETHUSDshortswingtradecrypotcurrency
Comments
jordanmorin13
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IM BUYING FIST FULLS AND FISTFULLS OF ETHEREUM RIGHT HERE RIGHT NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!
Bullandbeartrading
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@jordanmorin13, ehmm okay.
CryptoBullet
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keep up the good work!
Bullandbeartrading
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@CryptoBullet, thank you !
RSibayan
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Couldn't this go the other way too?
Yung_Crypt0
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@RSibayan,
I mean it looks pretty terrible. You could maybe play the descinding wedge with S/L under the r1 but with the weekend coming up I'd lean more bearish
RSibayan
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@Yung_Crypt0, Still have yet to wait for confirmation prior to entry, and it won’t be until price goes up $201.
RSibayan
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Bounce from $170.17 is good. Moving to the upside now. Bulls are charging on. Breaking $170.17 will give the bears the upper hand.
Good luck!
Bullandbeartrading
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@RSibayan, thank you!
RSibayan
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$170.17 held as support, and were off to the races! Watch that $170.17 support, it must hold for the trend to remain Bullish, if it’s broken by the Bears, there’ll be blood in the streets.
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