🔸Hello traders, let's review the daily price chart for ETH today. This is the worst case scenario option, 50% correction after breakdown of the rising wedge pattern in downtrend.
🔸ETH is compressing into rising wedge technical pattern in the downtrend, which normally resolves in downside breakdown and continuation of downtrend. having said that, do not panic, UNTIL we get a break below 1500 USD (sliding bullish TL s/r).
🔸Recommended strategy for crypto traders: remains to be seen if ETH can hold the key S/R level near 1500/1550 USD, however, if we get a confirmed breakdown of 1500/1550 USD I recommend to get out of the alt coins and get ready for a deep correction in crypto space. This is not a trade setup, a warning for the traders of a potential extended crypto winter and correction if ETH fails to hold ground near 1500 USD. good luck!
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this is a warning not an actual trade setup
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btcusd 8hours yi long ma caused liquidations target is 24000 USD
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🔸Chinese billionaire Yi Long Ma (*sarc) triggered the recent sell off event in crypto after disposing 400 mln usd worth of BTC, this caused 1 bln USD + liquidations across the board and all supports broke down and currently we are in DUMP mode trading near 27 000 USD.
The information is detailed and quite concise. Thanks for the idea! It would be interesting to know the full list of tools you use in your analysis.
Solldy
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This is probably the best publication on this asset in the current market sentiment + I've seen a couple of news that would also support this idea. It would be interesting to know in what order you parse the asset for this idea