ETHUSD after series of higher highs and higher lows, double top has been noticed, RSI also printing bearish divergence. short position has been placed with the help of sell stop.
SHORT POSITION
ENTRY: 1739.44
STOP LOSS: 1852.53
TP 1: 1626.00
TP2: 1513.00
LOT SIZE:
TRADE 1: RR: 1:1
TRADE 2: RR: 1:2
Although it was a very good week for the crypto market, still, it was quite a tricky path. Namely, as banks in the US and Switzerland are having extremely tight moments, a high level of deposits was moved from banks to the crypto market. This emergency move is implying a question if current crypto levels are sustainable in the long run?
Previous week ETH started...
Ethereum, from a technical point of view, the ETH short-term 4-hour market is under pressure below 1850. The market is currently falling below the MA20 moving average to stop the decline, and the low point of the decline is slowly rising. In the short-term, the market has not fallen below the 1740 first-line support. There are signs of successful top-bottom...
Pivot point: 1663
Currently: Resisted at 1748 and retraced back to 1721
Reaction: Consolidating at this 1605 level, its next support zone is 1574
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Today a large flock of ducks flew to the North. An inner voice tells you that the goal is at the top. That's the PLAN. I will film the closing of the deal. Who cares, follow.
A rising wedge formation on the ETH/USDT pair is a technical chart pattern that typically indicates a bearish reversal in price movement. It is characterized by a series of higher highs and higher lows that form a narrowing wedge shape. Traders typically look for a breakdown below the lower trendline as a signal to sell, as it suggests that the uptrend has lost...
Salutations
The situation in Ethereum is slightly different from the one in bitcoin, and this will be today's topic which we talk about.
The little brother of bitcoin only gained +30% in the past days and lacks behind, this is rather unusual because oftentimes Ethereum is the one who has the more exciting rallies. Additionally, Ethereum reached the marked 1.236...
A rising wedge pattern can be seen forming in ETHUSD this is a bearish pattern. Adding to the short play is the divergence forming on the RSI which is indicating a slow down of momentum.
Support holds strong at 20EMA as we push back above the inner pattern line (orange).
We should look to breakout soon in order to continue the stepping pattern; next assumed resistance is around 1880.
Another double-top has been indicated in the case our luck runs out, using descending pattern (blue) as neckline.
Based on future PA this pattern line may end up...
