biffbifford

Fading Away from the 50 dMA with rounded tops forming.

BITFINEX:ETHUSD   Ethereum
The short interest is rising while price degrades. If past price action around $200 is prolouge we can hope for the price to inch closer to $200 while short interest continues to rise to allow for my previous trade set up of dollar-cost-averaging under $200, and waiting for the short squeeze to propel you north for a nice 20+ percent scalp. These trading setups are easy to spot. Notice the topping tails on the 4 previous days as price tries to probe higher, but fails. Set your alerts, and watch the short interests. We might get another chance to make a nice profit in the coming days, or at the minimum get a trade entry and a long play waiting for the squeeze to play out.

Good luck!!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.