Bearish View on ETHUSDT
Trade:
SellETH Perpetual future at $2050
Stop Loss: $2065
Target: $1965
Max Profit: $60/ETH
Max Loss : $40/ETH
Rationale:
The latest price action in ETH indicates a potential pause in the rally, with some retracements observed. Additionally, a newly formed supply zone/resistance has been identified on the charts.
Currently, the price is making an effort to retrace towards the supply zone at 2050.
We can use 2065 as stop loss of for invalidation of above setup.
Trade:
SellETH Perpetual future at $2050
Stop Loss: $2065
Target: $1965
Max Profit: $60/ETH
Max Loss : $40/ETH
Rationale:
The latest price action in ETH indicates a potential pause in the rally, with some retracements observed. Additionally, a newly formed supply zone/resistance has been identified on the charts.
Currently, the price is making an effort to retrace towards the supply zone at 2050.
We can use 2065 as stop loss of for invalidation of above setup.