Ethereum - Intraday - We look to Sell at 3619 (stop at 3702)
Pivot resistance is at 3677.
Bearish divergence can be seen on the 4 hour chart, daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Price action looks to be forming a top. W
e look for a temporary move higher.
Preferred trade is to sell into rallies.
50 4hour EMA is at 3350.
The trend of higher lows is located at 3350.
Our profit targets will be 3366 and 3306
Resistance: 3600 / 3680 / 3800
Support: 3500 / 3400 / 3350
Pivot resistance is at 3677.
Bearish divergence can be seen on the 4 hour chart, daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Price action looks to be forming a top. W
e look for a temporary move higher.
Preferred trade is to sell into rallies.
50 4hour EMA is at 3350.
The trend of higher lows is located at 3350.
Our profit targets will be 3366 and 3306
Resistance: 3600 / 3680 / 3800
Support: 3500 / 3400 / 3350
Trade active
Trade closed manually:
Closed at breakeven.
