My trading idea for ETHUSDT - sell /SHORT
Target: 1060 USD
Stop: 1816 USD
When large amounts of cryptocoins are transferred from a wallet to an exchange, it is usually to sell them. The price of ETHUSDT suspiciously stayed at the support line over the months of May and June.
On 10 June, 42,000 ETHs (approx. 72 million USD) were transferred from an unknown wallet to the FTX exchange. After that, the price fell by about 12% due to the sell-off.
I expect a further drop. The next relevant support is at 1060 USD.
Target: 1060 USD
Stop: 1816 USD
When large amounts of cryptocoins are transferred from a wallet to an exchange, it is usually to sell them. The price of ETHUSDT suspiciously stayed at the support line over the months of May and June.
On 10 June, 42,000 ETHs (approx. 72 million USD) were transferred from an unknown wallet to the FTX exchange. After that, the price fell by about 12% due to the sell-off.
I expect a further drop. The next relevant support is at 1060 USD.