Drawing this style only costs money. MM spent effort pushing the price up to 4.2k but then retested back to 3.7k, so forget it.
Post
CaesarArn
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Bearish$ETH Just thinking out loud..
Price has reached a long-awaited zone, and it will likely leave this area behind as a manipulation. (If it closes below 4,100 in Daily)
I don’t believe the bull run will arrive this obviously and let us profit so easily.
I’m expecting a pullback, potentially down to a zone between 3,900 and 3,700.
Using previous price action in this region, I’ve identified a stop level based on historical candles and entered a trade accordingly.
Given the current structure, I believe the price may retrace in line with a Head and Shoulders pattern.
If price starts making hourly closes above the red line, I’ll close the trade.
If it begins to break the most recent high, I may also close it to avoid further losses — in that case, I’ll post an update.
If the market is going to move up, our BTC long position will cover this loss anyway.
#ETHBreaks4000
Price has reached a long-awaited zone, and it will likely leave this area behind as a manipulation. (If it closes below 4,100 in Daily)
I don’t believe the bull run will arrive this obviously and let us profit so easily.
I’m expecting a pullback, potentially down to a zone between 3,900 and 3,700.
Using previous price action in this region, I’ve identified a stop level based on historical candles and entered a trade accordingly.
Given the current structure, I believe the price may retrace in line with a Head and Shoulders pattern.
If price starts making hourly closes above the red line, I’ll close the trade.
If it begins to break the most recent high, I may also close it to avoid further losses — in that case, I’ll post an update.
If the market is going to move up, our BTC long position will cover this loss anyway.
#ETHBreaks4000
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