Mihai_Iacob

ETH- More bearish than bitcoin, it can dive to 1k zone

Short
Mihai_Iacob Updated   
COINBASE:ETHUSD   Ethereum
Yesterday, following bitcoin's lead, Ethereum took also a hit and dropped hard.
This drop cleared the rising wedge support, a trend line that kept the price elevated for a 100% gain.
At this point, this break is confirmed and 1800 is extremely strong resistance.
As in the Bitcoin case, rallies should be sold and, from a technical perspective, ETH could drop to 1k target of the pattern.
EthUsd back above 1.8 would negate this scenario
Comment:
This analysis needs and update, i hope this you will read.
1. The sell zone from the chart is 1800, so...
2. I said "IN MY OPINION" and "IT CAN", in your opinion can do whatever and go to the moon.
3. I don t hold crypto, i speculate
4. I have a plan and a stop loss for every trade. So if i sell at 1800 i will not remain with a losing trade and idea if it goes back above 2k
5. If i sell at 1800 and is see that is dropping but hold 1400 again, I exit the trade.
6. Chill guys, may be I m wrong, for sure AT LEAST I TAKE THIS INTO CONSIDERATION WHEN I TRADE, i see most of you don t even consider the scenario when crypto will drop...

Hope is clear now, and again, at 1800 i will be short with SL above 2k

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
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.