$ETH #ETH
Ethereum rejected near 2,385 today, and that rejection is a short setup with a clear exit.
Entry: 2,350 to 2,380
Stop loss: 2,410
Target 1: 2,300
Target 2: 2,270
My reasoning is that Ethereum is lagging Bitcoin on ETF flows, it is down slightly while Bitcoin holds 80,000, and it already failed at the top of its day range near 2,385. A short from 2,350 to 2,380 risks a move above 2,410, which would mean the rejection failed and buyers are back in control. The targets are 2,300 first, which is near the middle of the range, then 2,270 if selling picks up. I like this setup because it does not need a market crash, it only needs Ethereum to keep doing what it did today, which is fade strength. I would not hold this short through a Bitcoin breakout above 81,700, because a strong Bitcoin move usually drags Ethereum with it, and that would invalidate the lagging story fast.
Would you short Ethereum at 2,350 to 2,380, or do you think 2,410 breaks and shorts get squeezed?
Futures trading is risky, trade small, manage your risk, and do your own research.
#Ethereum #Crypto #FuturesTrading #TradingSignals
Follow for more trades.
Ethereum rejected near 2,385 today, and that rejection is a short setup with a clear exit.
Entry: 2,350 to 2,380
Stop loss: 2,410
Target 1: 2,300
Target 2: 2,270
My reasoning is that Ethereum is lagging Bitcoin on ETF flows, it is down slightly while Bitcoin holds 80,000, and it already failed at the top of its day range near 2,385. A short from 2,350 to 2,380 risks a move above 2,410, which would mean the rejection failed and buyers are back in control. The targets are 2,300 first, which is near the middle of the range, then 2,270 if selling picks up. I like this setup because it does not need a market crash, it only needs Ethereum to keep doing what it did today, which is fade strength. I would not hold this short through a Bitcoin breakout above 81,700, because a strong Bitcoin move usually drags Ethereum with it, and that would invalidate the lagging story fast.
Would you short Ethereum at 2,350 to 2,380, or do you think 2,410 breaks and shorts get squeezed?
Futures trading is risky, trade small, manage your risk, and do your own research.
#Ethereum #Crypto #FuturesTrading #TradingSignals
Follow for more trades.
