Eth short to <500$

Hello, eth is currently going up as the merge comes closer, this is an excellent time to short it as the bear market is far from over.
In 2018 Eth had 1 big correction which i believe we are currently seeing in this bear market.
This is just a "buy the rumors, sell the news" price action like seen many times in crypto.

The Zone to short is pretty big, so this is meant for 1x short only basicly.
Any higher leverage is subject to possible liquidation as this could go up to my highest shorting entry in the most bullish case.
Im not really expecting to reach the last 2 entrys but who knows.

My target to close would be below 500$

Comment:

On Total market cap chart we are soon touching the big resistance Zone.
This is just a retest of a previous support range, nothing special, we remain in a bear market overall.

Trade active:

first short target reached.

we may be overbought shortterm. retesting this supp wouldnt surprise me before going higher then 1700..

Comment:

theoretically the correction could already be over, not saying it is likely as of now but i would be careful holding longs/crypto from now on as 1700 was the low end of the resistance.

Comment:

Volume still looks aweful across the board. Im still 90%+ convinced that this is just a correction. be careful out there.

Comment:

merge happening arround 15 sep instead of 19 sep.

Dont forget that the merge is also a potential huge risk for eth.
If anything goes wrong and a hacker finds a way for double spend for example this could destroy the whole Eth ecosystem.

i think top will happen before merge and market will start pricing in the risks soon, so i personaly would be careful right here.

also my third target got reached, as i mentioned above i dont really expect the last 2 targets to get reached but have more shorts up there in case we do.