Called The Top on ETH!
In this post I'm going cover the TA and indicators I used to call the short on Ethereum!
The current indicators I'm using on the 4h chart are the Whales buy-sell indicator (mine), VMC Cipher B (free), and RSVP Extractor (mine). Looking at our major support/resistance levels, we can see there is Daily resistance on ETH at 2160, as well as Weekly resistance at 1884 and Weekly support at 1397.
The first major short opportunity I saw was the Red Diamond indication on my RSVP Extractor (outlined by the first vertical blue line). I saw we were below the 200 EMA so I was only going to look for shorting opportunities and it played out perfectly (shorting ETH at 1980). Next I received another Red Diamond on June 6th and shorted again at 1900. Finally, there were two more shorting opportunities which came with the combination of the Whales buy-sell indicator "Sell" signal and the VMC "red dot" combined, which I love to use together. That was outlined by the green circles I drew. This also coincided with the trend line resistance I drew as well (teal diagonal line).
The next major support I'm looking at is 1397 on ETH. We may or may not get there but that will be your best R/R position for a long. There's currently an oversold "Moon" signal on the RSVP Extractor so we could have short-term relief but I'm not holding my breath.
If you have any questions about the indicators I use or my technical analysis, please comment below or send me a message! Thanks for reading :)
The current indicators I'm using on the 4h chart are the Whales buy-sell indicator (mine), VMC Cipher B (free), and RSVP Extractor (mine). Looking at our major support/resistance levels, we can see there is Daily resistance on ETH at 2160, as well as Weekly resistance at 1884 and Weekly support at 1397.
The first major short opportunity I saw was the Red Diamond indication on my RSVP Extractor (outlined by the first vertical blue line). I saw we were below the 200 EMA so I was only going to look for shorting opportunities and it played out perfectly (shorting ETH at 1980). Next I received another Red Diamond on June 6th and shorted again at 1900. Finally, there were two more shorting opportunities which came with the combination of the Whales buy-sell indicator "Sell" signal and the VMC "red dot" combined, which I love to use together. That was outlined by the green circles I drew. This also coincided with the trend line resistance I drew as well (teal diagonal line).
The next major support I'm looking at is 1397 on ETH. We may or may not get there but that will be your best R/R position for a long. There's currently an oversold "Moon" signal on the RSVP Extractor so we could have short-term relief but I'm not holding my breath.
If you have any questions about the indicators I use or my technical analysis, please comment below or send me a message! Thanks for reading :)
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🌎 Website - cryptoscripts.com
🐦 Twitter - twitter.com/CryptoScriptsAI
📺 Youtube Indicator Tutorials - youtube.com/c/CryptoScripts
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