ETH IS AT RESISTANCE! EXPECTING A REJECTION FROM HERE!!
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Welcome to this quick ETH update.
ETH is forming a bear flag in 4hr, which is generally a bearish pattern. It is currently, near the upper boundary of the flag. I am expecting a rejection from here.
After the rejection, we have two supports one is at around the $1220 level and another one is at the $1190. Breaks and close below $1190 will be bad for the overall market and we might see a massive dump.
Invalidation:- If any 4hr candle breaks and closes above the flag's upper boundary ($1250), then this bearish scenario will invalidate.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this quick ETH update.
ETH is forming a bear flag in 4hr, which is generally a bearish pattern. It is currently, near the upper boundary of the flag. I am expecting a rejection from here.
After the rejection, we have two supports one is at around the $1220 level and another one is at the $1190. Breaks and close below $1190 will be bad for the overall market and we might see a massive dump.
Invalidation:- If any 4hr candle breaks and closes above the flag's upper boundary ($1250), then this bearish scenario will invalidate.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
