$ETH / USDT: Short Setup Playing Out Perfectly! 🎯
Look at that precision rejection! Ethereum (ETH/USD) completed an ABC corrective wave structure right into our key resistance zone, and the rejection has been swift.
Here is the quick technical breakdown of what’s happening on the 4-Hour chart:
🔍 Key Technical Highlights:
ABC Pattern Completed: Wave (C) topped out right around the $1,938 - $1,958 resistance level.
Rejection & MSS: Price took liquidity at the top and broke down below the Market Structure Shift (MSS) level.
RSI Momentum: RSI (14) has dropped to 37.90, signaling clear bearish momentum taking control.
Target Area: Looking for price to head down towards the demand/support zone near the $1,745 - $1,730 region.
🎯 Trade Parameters:
Entry Zone: ~$1,938 (Short taken at rejection)
Stop Loss (SL): $1,958.92 (Above swing high)
Take Profit (TP): $1,745.93 / $1,731.36 (Key support zone)
⚠️ Risk Disclaimer: NFA (Not Financial Advice). Crypto trading carries high risk. Always manage your risk properly and use strict stop losses!
Look at that precision rejection! Ethereum (ETH/USD) completed an ABC corrective wave structure right into our key resistance zone, and the rejection has been swift.
Here is the quick technical breakdown of what’s happening on the 4-Hour chart:
🔍 Key Technical Highlights:
ABC Pattern Completed: Wave (C) topped out right around the $1,938 - $1,958 resistance level.
Rejection & MSS: Price took liquidity at the top and broke down below the Market Structure Shift (MSS) level.
RSI Momentum: RSI (14) has dropped to 37.90, signaling clear bearish momentum taking control.
Target Area: Looking for price to head down towards the demand/support zone near the $1,745 - $1,730 region.
🎯 Trade Parameters:
Entry Zone: ~$1,938 (Short taken at rejection)
Stop Loss (SL): $1,958.92 (Above swing high)
Take Profit (TP): $1,745.93 / $1,731.36 (Key support zone)
⚠️ Risk Disclaimer: NFA (Not Financial Advice). Crypto trading carries high risk. Always manage your risk properly and use strict stop losses!