ETHUSDT ASCENDING TRIANGLE
I'm sorry but the target does not fit in to the chart.
As you can see, the overall situation in the crypto market is not looking very healthy,
We have here a very simple setup, we combine:
- RSI Bearish divergence.
- Uptrend with decreasing volume.
- Failure to break major resistance of 2000$.
- Bitcoin selling at less than 25000$.
And for the previous reasons, I would consider opening a short here with targets 1370$ 890$ and 285$ (high before 2020 market crash).
For entering, there is various options, you can enter now or wait for a confirmation like for example, the breakdown of the trend-line and a retest.
This trend-line is acting as a strong support so It might take a few days to see a breakout, however, this setup can be wrong, nothing is infallible, no trader wins 100% of the time so please, remember that the first thing is to protect your capital.
It's recommended to set a stop loss at 1790$.
As you can see, the overall situation in the crypto market is not looking very healthy,
We have here a very simple setup, we combine:
- RSI Bearish divergence.
- Uptrend with decreasing volume.
- Failure to break major resistance of 2000$.
- Bitcoin selling at less than 25000$.
And for the previous reasons, I would consider opening a short here with targets 1370$ 890$ and 285$ (high before 2020 market crash).
For entering, there is various options, you can enter now or wait for a confirmation like for example, the breakdown of the trend-line and a retest.
This trend-line is acting as a strong support so It might take a few days to see a breakout, however, this setup can be wrong, nothing is infallible, no trader wins 100% of the time so please, remember that the first thing is to protect your capital.
It's recommended to set a stop loss at 1790$.
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