Why so many dumbos scared over ena dipping from 1.3 to 0.9, people will sell and people will buy panicking over short term losses doesnt mean the actual product going to fail. Eventually when Ethena labs start showing progress/revenue it will still go up. So many crypto investors NGMI seriously.
Currently with all bullish macro factors, its common sense to long markets instead of shorting. But i’m going to short, i’m monitoring next two hourly wicks we need to reclaim 37500 else i foresee a possible downward momentum or liquidation event possibly. NFA, I’m just a nobody take my advice as farts. Order book showing weakness concentration at fixed support levels becareful of fake orders or MM sl hunts.
As of now eth is testing a important ema 200 trendline price at 1982 if CMP maintains above this line expect upward movement to 2037, btc invalidated my descensing triangle i will look for a dca upwards from 37200 upwards for my short
From my previous post i said that price need to hold 36500 for upward movement but from order books i noticed a strong buying power from 36400-36300 which to me means majority have placed longs here and not the top of an ascending triangle/pennant as i have drawn on btc chart,as of current post timing.Please monitor the order books and refer to it for possible long entry or for a breakdown short if this support fails to hold
Two scenarios, we reject around here below 1640 and price continues to fall towards TP zones 1616-1600
Or
Price breaks up 1640, forms a new high around next OB resistance TP zones 165X-166X depends on which hammer wick you looking in your chart the further from CMP the least probability it will hit.