ETHUSDT Local S/R| 200 MA| Daily S/R| .618 Fibonacci
Evening Traders,
Today’s analysis – ETHUSDT- trading below Local S/R where further downside is probable,
Points to consider,
- Price Action Impulsive
- Local S/R resistance
(200 MA Confluence)
- .618 Fibonacci Objective
- Declining Volume
ETHUSDT’s immediate price action is trading bearish under local S/R allowing for a short term bearish bias with the 200 MA being in confluence.
The .618 Fiboancci is current objective, price action is likely to respect this level for a bottom fishing entry.
The immediate volume is below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Today’s analysis – ETHUSDT- trading below Local S/R where further downside is probable,
Points to consider,
- Price Action Impulsive
- Local S/R resistance
(200 MA Confluence)
- .618 Fibonacci Objective
- Declining Volume
ETHUSDT’s immediate price action is trading bearish under local S/R allowing for a short term bearish bias with the 200 MA being in confluence.
The .618 Fiboancci is current objective, price action is likely to respect this level for a bottom fishing entry.
The immediate volume is below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone