ETH double top 4h
Updated
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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