Ethereum has had a good bull run along with BTC. Everyone can notice it trails along with BTC i.e If BTC goes up, ETH follows along.
However, since BTC is in accumulation since yesterday, I see a potential short trade setup. We have weak support at 278.5$ on ETH, which if broken could retest previous support of 260$ or maybe even further down.
Getting down to the setup:
ETH Short Trade Setup
- Place a Stop order @ 277
- Max Leverage not more than 5x
- Take Profit 1 @ 265 (Close Half Position or Bring Stop Loss to 274
- Take Profit 2 @ 255 (Close Full Position)
- Wait for the next setup
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However, since BTC is in accumulation since yesterday, I see a potential short trade setup. We have weak support at 278.5$ on ETH, which if broken could retest previous support of 260$ or maybe even further down.
Getting down to the setup:
ETH Short Trade Setup
- Place a Stop order @ 277
- Max Leverage not more than 5x
- Take Profit 1 @ 265 (Close Half Position or Bring Stop Loss to 274
- Take Profit 2 @ 255 (Close Full Position)
- Wait for the next setup
Drop a like if you liked this setup & share with your peers
Trade closed: target reached