ETH has been consolidating below the key resistance level at $2,700.
On the 8-hour timeframe, price action suggests the formation of a potential distribution schematic 1-2-3.
A short setup is illustrated on the accompanying chart.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Trade closed manually
I close this trade at break-even waiting for clear action of BTC. Local resistance $106K seems to be broken and BTC would go higher after Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.