ETH is following ascending channel since its last fall to 86 dollars, On 30th April it tried to break out upward channel resistance but unable sustain the movement and thereafter it is moving downward with slight resistance of trend line that is depicted with green color. The white lines are Fibonacci retrenchment level 0.5,0.61,0.786 that represents 187, 211, 245...
A potential price breaout analysis.
April has been always been in history to create pump. This Global depression wouldnt know will happen or not.
Keep bids ready at 145 if the price range break below 155. at SL at 140-139.
This is just my opinion. If the ETH is really bearish and this could be a fake pump then It might go accumulation zone below 100.
BINANCE:ETHUSDT
After a dead cat bounce, another opportunity for shorting is coming.
The prices are near upper end of channel and $125 is immediate support.
Breach of $125 is a short trigger with potential target of $105 and stop above $128
cheers
![ETHUSDT: [Bounce] ETHUSDT Sell Setup](https://s3.tradingview.com/o/OGdVHD7M_mid.png "[Bounce] ETHUSDT Sell Setup")
![ETHUSDT: [Bounce] ETHUSDT Short Idea](https://s3.tradingview.com/c/cOu2HKNU_mid.png "[Bounce] ETHUSDT Short Idea")
![ETHUSDT: [Intraday] ETHUSDT Short Idea](https://s3.tradingview.com/w/WtodzQK6_mid.png "[Intraday] ETHUSDT Short Idea")
