Trip Down to $300's inevitable for $eth
The cover photo for this idea submission pretty much covers it all.
Just in case it is not shown clearly (they always show all of the other indicators on the chart for some reason), but here is the TradingView picture where you can see what I am outlining:
Basically I see that
ETH is looking to break out of the trading range that it was in for some time, and it looks more and more likely that it will end up simply falling through the support that it has been clinging to over the last few days.
It's still not even giving an oversold RSI reading on the daily, which means that we really can't say that all the momentum has waned (despite the fact that it has depreciated substantially against
BTC). I did not look into that pairing, so there may be information that I overlooked to some extent that would have otherwise impacted my analysis.
Despite that, I feel confident in placing the idea for a short trade.
Disclaimer: This is not financial advice and I am not a financial advisor. I am also not invested at all in Ethereum, nor was I paid to say what I just said above and in this disclaimer.
Just in case it is not shown clearly (they always show all of the other indicators on the chart for some reason), but here is the TradingView picture where you can see what I am outlining:
Basically I see that
ETH is looking to break out of the trading range that it was in for some time, and it looks more and more likely that it will end up simply falling through the support that it has been clinging to over the last few days. It's still not even giving an oversold RSI reading on the daily, which means that we really can't say that all the momentum has waned (despite the fact that it has depreciated substantially against
BTC). I did not look into that pairing, so there may be information that I overlooked to some extent that would have otherwise impacted my analysis. Despite that, I feel confident in placing the idea for a short trade.
Disclaimer: This is not financial advice and I am not a financial advisor. I am also not invested at all in Ethereum, nor was I paid to say what I just said above and in this disclaimer.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.