Ethereum / TetherUSShort
ETHUSD - short
Updated
Do you see a bull flag, right? Something similar happened in early April as well.
If we play with trendlines, we can find both a descending channel with a breakout (dashed lines - and then it appears to be a bullish formation) and a broadening wedge (bold lines - and then we will have a bearish structure until the breakout from it).
I'm betting on the second structure, with a target towards its midpoint (target1) or even it's bottom (target2).
If we play with trendlines, we can find both a descending channel with a breakout (dashed lines - and then it appears to be a bullish formation) and a broadening wedge (bold lines - and then we will have a bearish structure until the breakout from it).
I'm betting on the second structure, with a target towards its midpoint (target1) or even it's bottom (target2).
Note
If you don't like the idea of working with identifying potential price patterns, then we could go for a much simpler approach by identifying resistance and support zones or fair value gaps and liquidity areas.We will invalidate this idea as soon as ETH breaks the resistance zone of $2000 - $2100.
Note
target doneTrade closed: target reached
Trade closed: target reached
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