BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Reasons to take the short position:
  • Price has confirmed to be followin a new channel.

There is a lot of resistance near the upper channel.

Price has been rejected py the resistance once support.

MACD has crossed over the signal

The MACD and the stochastic are both showing divergence

Price action is showing a bearish engulfing bar after the Harami (Mother and baby) was formed near the ceiling.

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I totally agree, nice chart
Amazing analysis
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