TradingView
TiborVrbovsky
May 29, 2021 10:55 AM

Ethereum in a Bear flag. Short

BINANCE:ETHUSDT240
Ethereum / TetherUSBinance

Description

⋅
The price of Ethereum has formed a flag formation, which has been formed from a leg
down, meaning it's a flag with bias to break to the downside.

If the price finds support at $2250, it still has potential to change the trend.

However a full candle break below $2250 can lead to some serious losses, so be careful.

A break below $2250 will see extended losses to $2080, while break below $2080 can easily reach support at $1900.
Support and ResistanceETHEthereum (Cryptocurrency)ETHUSDETHBTCethereumusdcryptoCryptocurrencyFLAGBearish Patterns
Comments
ragingbull99
⋅
Im new. And Dumb. And ignorant..so sorry for my comment. But wouldnt a bear flag be trending up?
TiborVrbovsky
⋅
@ragingbull99, It depends, some analysts follow your scheme. But for me both trending upside and downside is the same pattern. The bias for me depends whether it comes from a leg to the downside or upside. It's a continuation pattern.
ragingbull99
⋅
@TiborVrbovsky, so...and excuse me if i have my names incorrect...but its the bull or bear pole thats more important, yes? Where as the flag can be up trending...down trending...or a triangle...as long as its not oscillating widely.
KKKKKKKKKKKKing
⋅
i have short the eth
KKKKKKKKKKKKing
⋅
still bearish
More