When the breakout and reversal occurred simultaneously at $ETH , I became even more alert. BTC led the decline, and Ethereum's correlation with the drop was so high; the hourly moving average had already turned bearish, and the price was trading close to the moving average – this signal wasn't weak.
The low RSI indicates selling pressure is still releasing, but the overall daily trend is still upward. Therefore, this short position is a counter-trend trade, and we need to keep our position size small and avoid greed. A rebound to the resistance zone is a good entry point for phased entry. If it breaks down, the first target is to look at the chart structure; the rest depends on the price action.
🔴 Trading Direction: Short
📍 Entry Range: 2534.77 – 2539.77
🛑 Stop Loss: 2595.93
🎯 Take Profit 1: 2493.28
🎯 Take Profit 2: 2463.95
🎯 Take Profit 3: 2419.95
Still waters run deep, revealing foresight; remain calm amidst market fluctuations.
Join Sister Fei and navigate the tides of wealth.
#ETH
Click below to trade 👇
The low RSI indicates selling pressure is still releasing, but the overall daily trend is still upward. Therefore, this short position is a counter-trend trade, and we need to keep our position size small and avoid greed. A rebound to the resistance zone is a good entry point for phased entry. If it breaks down, the first target is to look at the chart structure; the rest depends on the price action.
🔴 Trading Direction: Short
📍 Entry Range: 2534.77 – 2539.77
🛑 Stop Loss: 2595.93
🎯 Take Profit 1: 2493.28
🎯 Take Profit 2: 2463.95
🎯 Take Profit 3: 2419.95
Still waters run deep, revealing foresight; remain calm amidst market fluctuations.
Join Sister Fei and navigate the tides of wealth.
#ETH
Click below to trade 👇