Altcoin Trading Diaries #2: ETH, 1H Trading the trend

Mar 4, 2022ETHUSDTPERP

Bearish vibes in the market, still more room to drop (has not yet hit major demand zone).

A good entry would be the 0.618 fib level, this corresponds to the previous supply zone, and closer to 89-day EMA.

Although demand zone is further below, we are happy with a RR of 3. We're also quite late to the party, downtrend looks like it is losing steam.

Tools used: Fib levels, Supply & Demand Zones, 89-day EMA.

Mar 4, 2022

Order cancelled