Evening Traders,
Today’s analysis – ETHUSDT- trading at a key level where short term downside is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Bearish Retest
- Daily S/R Objective
(200 MA & POC Confluence)
- Oscillators Neutral
ETHUSDT’s immediate price action is trading with a bearish retest, allowing for a short term bearish bias.
The Daily S/R is current objective, where a bounce is highly probable, this level is in technical confluence with the 200 MA and POC S/R.
Both Oscillators are currently trading neutral, penetrating their bearish control zones will be indicative of weakness.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be use upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You’re going to learn a million things, then you need to forget them all and focus on one.” – SunriseTrader
Today’s analysis – ETHUSDT- trading at a key level where short term downside is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Bearish Retest
- Daily S/R Objective
(200 MA & POC Confluence)
- Oscillators Neutral
ETHUSDT’s immediate price action is trading with a bearish retest, allowing for a short term bearish bias.
The Daily S/R is current objective, where a bounce is highly probable, this level is in technical confluence with the 200 MA and POC S/R.
Both Oscillators are currently trading neutral, penetrating their bearish control zones will be indicative of weakness.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be use upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You’re going to learn a million things, then you need to forget them all and focus on one.” – SunriseTrader
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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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.