A possible SHORT opportunity is surfacing on ETH/USDT pair.
Why I am looking for a SHORT here when the whole market sentiment is euphoric. Simply, because I trade the chart and not the sentiment.
The reason for the SHORTing ETH/USDT is around $3350.
1. Head & Shoulder pattern forming as you can see on the chart
2. The neckline of the H&S is going to be...
In this analysis we want take a look to the ETH/USDT chart for recent days
ETH started a good uptrend to the $ 4,000 range after breaking the daily downtrend.
With the market falling in recent days, it is returning to the same trend line, although this trend has become a dynamic support for the price.
On the other hand, we have the Fibonacci...
Eth can retest today but eventually the its going to go to 2900$ to complete the pattern before going for any bullish side. I am bearish till it touches 2900$ . After that it will eventually be going bonkers if the economy doesn’t crashes because of the FED!
ETH apperaed to have a strong breakout only to have major downside to follow. trapped longs above and expecting to go lower to weekly/monthly support levels. we moon to $4k+ either when we hit support or break out this descending resistance to invalidate this set up .
I don't believe we've completely finished wave 3 of our corrective C. If this plays out, we will see one more low before wave 4 and the inevitable wave 5 back down either for a double bottom or a deeper correction into low 2K's.
This analysis strategy worked well prediction the BTC drop from 53K to 42K recently. Same strategy applied here and you can see the market is ready for BIG GAINS! I'll leave the link to the other IDEA here.
The chart is self explanatory. There are similarities in the chart patterns and RSI patterns from 2 different points in time which LAST TIME led to a...