Dear traders, here is a new analysis for Ethereum.
Ethereum has fallen out of the rising triangle and that means a possible further decline. There are several patterns that point to that decline.
We see a Diamond that has broken out. Ethereum is also forming a head shoulder formation with now the right shoulder in the making.
If Ethereum stays above the orange "Last hope trend line + Ultimate support", thenis definately still with the Bullish scenario.
See Green arrow trajectory! The LONG target possibly with 36 hours.
Short only if the following conditions are met and confirmed:
---> Warning - Caution <----
So the SHORT scenario starts only after the last trendline (LAST HOPE TRENDLINE and Ultimate support has been broken through!
Only AFTER that, the following targets and opportunities to short come into view.
---> That will also automatically close the LONG position and go SHORT <---
I have not a single problem with reversing the long to short if needed. Trade what you see, not what you think!
First targets:
Targets, 2540. 2468, 2395, 2335, 2271, 2184, 1891, 1730
Different ways to short here at confirmation:
1. After a breakout below the orange neckline.
2. Upon a retest of the orange neckline.
3. After a retest of the green broken rising trend line.
Good luck traders!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
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