Ahoy there!
Ethereum has formed multiple tops since its original breakout. It is clear that the 180-181 range has now become resistance for ETH. I believe that we will be testing the 180 range once more in the next two hours and then from there falling back to at least 174-175. If it continues below the lower bound of the channel then 165 is a strong possibility.
Another indicator I found interesting here is how close we are to a downwards MACD cross on this 30m chart. Not only that but a cross down that has been denied multiple times, and now it is indicating that the divergence is even greater than the original breakout at 201-200.
I am actively trading this on leverage. I have entries in 177-179 range and am hoping to snag a few 180s if possible. I will be taking profit at 175 (given the volatile nature of both ETH and the contracts). From there I will be waiting for maybe another rebound to short again, and if it continues past 173 I am holding until 165.
At 165 I will reassess this trade before making any other entries.
Happy trading mates
Ethereum has formed multiple tops since its original breakout. It is clear that the 180-181 range has now become resistance for ETH. I believe that we will be testing the 180 range once more in the next two hours and then from there falling back to at least 174-175. If it continues below the lower bound of the channel then 165 is a strong possibility.
Another indicator I found interesting here is how close we are to a downwards MACD cross on this 30m chart. Not only that but a cross down that has been denied multiple times, and now it is indicating that the divergence is even greater than the original breakout at 201-200.
I am actively trading this on leverage. I have entries in 177-179 range and am hoping to snag a few 180s if possible. I will be taking profit at 175 (given the volatile nature of both ETH and the contracts). From there I will be waiting for maybe another rebound to short again, and if it continues past 173 I am holding until 165.
At 165 I will reassess this trade before making any other entries.
Happy trading mates
