a small upward movement for eth and then a big drop

2022年8月14日

hello guys

today i wanna analyze eth. Let's look at this chart together and I'll explain what's going on!

As you can see in the eth chart, it is in a descending channel. which once broke its bottom line and almost touched the next level (I mean $800)

2 last drops started by stop hunt that i show this on chart so it is possible this drop ;that i think it will be last drop for this wave; will start by another stop hunt so be ready for that, on the other hand, price stand on compression and first supply on it (range: $2030-$2180) and we'll see a good reaction on this zone but in my opinion it will be just a reaction and maybe a r:r=1:2 position, although i think eth will has a great drop on FL that is fresh and a strong potential area because of FL and top of descending channel so i recommend you be waiting until price touch that FL and be ready for a confirmation on 15min timeframe for a great short position.

thank you for your attention!

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