Hello everyone,
Welcome back to today's market analysis.
Looking at the ETH/USDT chart, while we've seen some consolidation and a bounce off the recent lows, I don't believe we've yet found a local bottom.
My analysis suggests we're likely to see one more leg down to the $1360 area, which I would view as an attractive zone for a scalp long position. A bounce from there could see price recover back to the $1460-$1500 area, at which point I would look to open a short position and target the next downside move.
Of course, this all depends on how the overall market develops and BTC's trend - I'll be sure to provide updates on the evolving setups and triggers.
Welcome back to today's market analysis.
Looking at the ETH/USDT chart, while we've seen some consolidation and a bounce off the recent lows, I don't believe we've yet found a local bottom.
My analysis suggests we're likely to see one more leg down to the $1360 area, which I would view as an attractive zone for a scalp long position. A bounce from there could see price recover back to the $1460-$1500 area, at which point I would look to open a short position and target the next downside move.
Of course, this all depends on how the overall market develops and BTC's trend - I'll be sure to provide updates on the evolving setups and triggers.
Note
Hi folks, you can see now, As I have TPed my long trade, and start building my short position now!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.