short ETH/ USDT: Bearish divergence appeared!
The live Ethereum price today is $3.436,29 USD with a 24-hour trading volume of $16.184.015.412 USD, -0,15% in the last 24 hours.
POSITION: SHORT
ENTRY PRICE: > 3.450 $
TARGETS: $ 3.300-3.200 / 2.800 – 2.700 / 2.450 / 2.200 / 1.900-1.800 /
STOPLOSS: $ 3.900
After its bullish momentum ETH seems approaching now a significant correction, as the price has already hit the upper level of Keltner channel on 4h timeframe. Historically after such a bullish momentum, price usually starts its rally to the downside, ranging between the trend line and the lower level of Keltner channel. Also indicators are pointing out to a possible decrease, in fact a bearish divergence has been spotted, as shown by the black lines.
MACD is looking bearish, below the trendline, RSI is 50, buying volumes are decreasing and RSI divergence is still under 0. For all these reasons I highly expect the short position to play out. In order to enter the position, wait for the bearish fractal to appear (green triangle). A bearish fractal occurs when there is a high point with two lower high bars/candles on each side of it. The indicator isolates potential turning points on a price chart and signals the price could move lower.
The entry point corresponds to 0.236 Fibo level and all the targets corresponds to previous resistances: 0.382, 0.5, 0.618 and 0.786, levels which all have almost perfectly predicted support and resistance zones historically.
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TRADE AT YOUR OWN RISK
NOT FINANCIAL ADVICE
POSITION: SHORT
ENTRY PRICE: > 3.450 $
TARGETS: $ 3.300-3.200 / 2.800 – 2.700 / 2.450 / 2.200 / 1.900-1.800 /
STOPLOSS: $ 3.900
After its bullish momentum ETH seems approaching now a significant correction, as the price has already hit the upper level of Keltner channel on 4h timeframe. Historically after such a bullish momentum, price usually starts its rally to the downside, ranging between the trend line and the lower level of Keltner channel. Also indicators are pointing out to a possible decrease, in fact a bearish divergence has been spotted, as shown by the black lines.
MACD is looking bearish, below the trendline, RSI is 50, buying volumes are decreasing and RSI divergence is still under 0. For all these reasons I highly expect the short position to play out. In order to enter the position, wait for the bearish fractal to appear (green triangle). A bearish fractal occurs when there is a high point with two lower high bars/candles on each side of it. The indicator isolates potential turning points on a price chart and signals the price could move lower.
The entry point corresponds to 0.236 Fibo level and all the targets corresponds to previous resistances: 0.382, 0.5, 0.618 and 0.786, levels which all have almost perfectly predicted support and resistance zones historically.
_______________
TRADE AT YOUR OWN RISK
NOT FINANCIAL ADVICE
Trade active:
Exactly as predicted ETH price is loosing its strenght, as evidenced by the decresing RSI, as always following BTC moves.
After reaching the local maximum at $3.678, our entry range, price is now slowly decreasing, therefore I am expecting it to test $3.400 support in the next few hours.
We got the Bearish fractal confirmation, which historically perfectly predicted reversal patterns. This is why I am confident price will decrease at least up to $3.100. For further short targets wait for confirmations, as bollinger lower band can also turn into support level, making the price rise again.
_________________
TRADE AT YOUR OWN RISK
NOT FINANCIAL ADVICE
After reaching the local maximum at $3.678, our entry range, price is now slowly decreasing, therefore I am expecting it to test $3.400 support in the next few hours.
We got the Bearish fractal confirmation, which historically perfectly predicted reversal patterns. This is why I am confident price will decrease at least up to $3.100. For further short targets wait for confirmations, as bollinger lower band can also turn into support level, making the price rise again.
_________________
TRADE AT YOUR OWN RISK
NOT FINANCIAL ADVICE
Trade active:
Price found resistance exactly at the entry level spotted on 15 sept and it is now decreasing, exactly as predicted. Bearish divergence played out and today, 20 th Sept, we reached the 3rd short target, with +19% profits for spot traders.
On 4h time-frame the asset is oversold so we can expect a quick pullback up to 3280$, but the general trend is still bearish. In fact on daily timeframe RSI is now at 40 and still decreasing, as bullish fractal still has not appeared, and MACD is still under the trend line.
Moreover, price crossed below 20/50 and 100 days EMA, the latter acting as support immediatelly pushing the price back up after reacing our target. Nevertheless, I expect the asset to test again 100 and later 200 days EMA, the latter corresponding to our 5th target.
wait for confirmations and trade as per your own risk.
_____________________________________
NOT FINACIAL ADVICE
On 4h time-frame the asset is oversold so we can expect a quick pullback up to 3280$, but the general trend is still bearish. In fact on daily timeframe RSI is now at 40 and still decreasing, as bullish fractal still has not appeared, and MACD is still under the trend line.
Moreover, price crossed below 20/50 and 100 days EMA, the latter acting as support immediatelly pushing the price back up after reacing our target. Nevertheless, I expect the asset to test again 100 and later 200 days EMA, the latter corresponding to our 5th target.
wait for confirmations and trade as per your own risk.
_____________________________________
NOT FINACIAL ADVICE
Trade closed: target reached