ETHUSD is approaching our first support at 156.61 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 168.67 (38.2% Fibonacci retracement). Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Currently up 3.68% on this short but the support is looking daunting. We might hit your support bounce back up for a nice higher low and then for a lowe lower which would be great for everyone going short. Stoch is due for a move up so I would just watch for the bull trap with a fast candle up and then a crashing candle down. Thanks for the update!