ETH recently did a false breakout after which it pulled back down to create a lower low. Even though on the daily it may look bullish, on the weekly it has MACD divergence and on the monthly it is way too overextended.
Good shorting opportunity on retest of previous resistance down to 0.618 fib.
I expect ETHUSD to break the trendline and after retest to go lower, but time will show.
@poplach, >4700. but im not even gana poke fun at u lol it aint even next month already got smoked.
poplach
⋅
@dead4586, well false breakup, short worked fine, keep poking fun
dead4586
⋅
@poplach, if u would have followed ur plan ur Stop Loss woulda been triggered but ok. still pretty bullish scooped up a ton at 3600-3700. ur trade was bad but if u wait long enough youll be right eventually lol
poplach
⋅
@dead4586, I set small stop losses because of high volatility. This time ETH did false breakup, I reentered on breaking back down, I didn't publish that idea but it was obvious for me. The thing is market is globally overbought and BTC did rehigh with very small power to push it up. As we know BTC falls = everything falls. ETH also doesn't look strong if you look on weekly chart, it keeps rejected from its high. That is a good sign for the beginning of correction. The thing is not to wait long enough but to understand the potential opportunities of an asset.
dead4586
⋅
@poplach, guy u have no clue what ur talking about lol. the more an asset touches a resistance the more likly itll break out. idk what weekly ur looking at but its not a bearish chart at all, not to mention eth/btc ratio. price recovered almost instantly making ur trad almost worthless tbh. im just stating the facts here. look at the chart when the mods get around to letting post.
poplach
⋅
@dead4586 hitting tp is 'almost worthless' you serious? I'm not kinda fomo guy who believes BTC will do $1000000000. I don't care about the price I follow the movements. And sorry for upsetting you with short ideas, that breaks your 'fomo to the moon' ideology. Anyway you're funny, but don't waste my time, I'd rather go to circus than chatting with you.
dead4586
⋅
@poplach, yeah dude u started ur short at like 4300. got wrecked then tried to short again only to have eth not even close anywhere near ur TP lol. ur terrible my guy... ima come back eoy when eth blows passed 5k. tty then.