ETH is facing resistance at DO, MO and MH, than there is the upper channel resistance, it is not yet in overbought area on 1H but it is starting to be in 15M and 30M , i think it is a good trade to short ETH from here down back to 1545-1535 where there is a good demand, as we are in the weekend volume is low so probably ETH will be contained between 1530 and 1570, i am not sure about it but it is probable; i still favour shorting as ETH is weak and in a downtrend so long is more dangerous than short; the trade is a small one like 25-50% , the area of 1525-1540 is a demand area we can see ETH has bounce off 3 times between today and yesterday.
This is not a financial adcise but just an idea
This is not a financial adcise but just an idea
Trade active:
Small short open here like 25%, look at reaction at upper resistance prior increasin the position
Trade closed: stop reached
Comment:
I still think was a good idea and i am looking to short again but i think in the weekend there are stop hunter especially on ETH and BTC when the volume is low so trading in the weekend sometimes is not convenient