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Ethereum / TetherUS
Short

Short ETH

By evasivesteering
Updated

ETH has fallen after the Merge. We can see that the bearish flag was broken down, in 1D TF.

RSI's trendline was also broken which increases the probability that prices will continue the down direction.

In 1W TF, the previous support (now becoming the new resistance) was lost. Logicaly, ETH would revisit the currect support where I put the final target for this trade.

Here below is the view in 1W TF:

snapshot



Trade active
TP1 $1220 was hit.
Trade closed manually
BTC and the whole market is strong. Better close trade here and wait for a reactivation later.
Trade active
Trade reactivated
Trade closed manually
Trade closed because BTC has some early sign to breakout
specially with MFI (to be confirmed)

snapshot
Trade active
BTC is weak although stock has risen.
Trade closed manually
Trade closed waiting for better entry and condition.
Bearish FlagETHFlagSupport and ResistanceTrend Lines
evasivesteering
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