Hi everyone,
ETH is presenting a good short opportunity. We have the 50 and 200 EMA acting as resistance and creating a death cross. It also formed a double top with a 4h doji. Remember we are coming from an impulse down so the most likely scenario is that we will have another wave down. This is a good 4:1 risk reward opportunity
Please feel free to share your opinion and ideas in the comment section
Cheers
ETH is presenting a good short opportunity. We have the 50 and 200 EMA acting as resistance and creating a death cross. It also formed a double top with a 4h doji. Remember we are coming from an impulse down so the most likely scenario is that we will have another wave down. This is a good 4:1 risk reward opportunity
Please feel free to share your opinion and ideas in the comment section
Cheers
Note
I think this is still a short. It reached the top of the bear flag. If the 4hr closes below the EMAs then i would re enter the short.
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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.