Short movement on ETHEREUM (ETH/USD) by ThinkingAntsOk
1H CHART EXPLANATION:
As we can observe, price is facing the Resistance Zone. It is inside an Ascending Channel, so, the first condition to take any short trade is that this channel is broken downwards. Once that happen, we will wait for price action confirmations like a corrective pattern or candlestick pattern to place our entry/stop loss. This is a short-term view, and it is only valid in case the channel is broken and price consolidates below. The macro vision for ETH/USD remains bullish, but first the resistance zone needs to be broken.
4H CHART:
As we can observe, price is facing the Resistance Zone. It is inside an Ascending Channel, so, the first condition to take any short trade is that this channel is broken downwards. Once that happen, we will wait for price action confirmations like a corrective pattern or candlestick pattern to place our entry/stop loss. This is a short-term view, and it is only valid in case the channel is broken and price consolidates below. The macro vision for ETH/USD remains bullish, but first the resistance zone needs to be broken.
4H CHART: