ETH retraced more than 40% from it's recent low of $880. But there is still a dark cloud hanging over it. We can see the regular bearish divergence and RSI is yet to cover it's path. Most importantly, there is a rising wedge formation supported with decreasing volumes. It's a wait to see if and where it breaks down. We will post the update.
Some see the inverted Head and Shoulder pattern with a breakout above $1150 on 24th Jun with a bullish view. However this breakout was not supported sufficiently by the volumes.
Some see the inverted Head and Shoulder pattern with a breakout above $1150 on 24th Jun with a bullish view. However this breakout was not supported sufficiently by the volumes.
Trade active:
The rising wedge broke down at $1210.
Entry - ~$1200 (CMP)
TP - 930
SL - 1290
Disclaimer - This is my personal view. It is not an investment, trading, or other types of advice or recommendation. Please do your own research.
Entry - ~$1200 (CMP)
TP - 930
SL - 1290
Disclaimer - This is my personal view. It is not an investment, trading, or other types of advice or recommendation. Please do your own research.