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JoE
May 16, 2021 5:29 PM

Ethereum extremely over-valued Short

Ethereum / DollarBitfinex

Description

Short ETH with stop-loss above 3611 and a TP at 2600~2700

### NOT FINANCIAL ADVICE ###

Trade closed: target reached

Comments
Amit26
Good one i must say, thanks for sharing. Do you see more downside or is it good now for opening long positions?
JoE
@Amit26, There's no formation for the bulls yet, a completion of a bear formation doesn't make it good for long.. However a V shaped reversal is possible from current levels because of Granville's 8 Rules
Amit26
@JoE, Yes, this was a pretty deep correction, I think a steep V recovery is very likely
Amit26
3611 is a pretty tight SL, So that means there are reasonably high chances of going up from here
JoE
@Amit26, wrong
alexdbode
Are you going long around 2700?
JoE
@alexdbode, Not until a bull signal gets flashed
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