If a position is being opened in $ETH right now, then a trap is being set for traders, so be cautious of the next move ๐๐
After $BTC Bitcoin dropped with two large candles, $ETH fell less against Bitcoin.
The calm consolidation is due to moderate funding, but there are signs of long positions opening, supported by an ascending trend line.
The open interest indicator is stable. Thereโs no frenzy of leveraged short or long positions.
This kind of move comes before the calm before the stormโitโs a trend trap.
So donโt become part of the trap; go with the market makerโs move.
How? ๐
๐ด If the bearish flag pattern breaks down, the next targets will be 2479/2440/2408.
๐ข If the moving averages are broken to the upside, the bearish flag pattern will be invalidated, and the next levels will be:
2639/2662/2709
A breakdown followed by a candle-hour close below the level is the most important thing for determining the direction.
Donโt rush in now. Most importantly, use a stop-loss after a breakout to avoid manipulation.
After $BTC Bitcoin dropped with two large candles, $ETH fell less against Bitcoin.
The calm consolidation is due to moderate funding, but there are signs of long positions opening, supported by an ascending trend line.
The open interest indicator is stable. Thereโs no frenzy of leveraged short or long positions.
This kind of move comes before the calm before the stormโitโs a trend trap.
So donโt become part of the trap; go with the market makerโs move.
How? ๐
๐ด If the bearish flag pattern breaks down, the next targets will be 2479/2440/2408.
๐ข If the moving averages are broken to the upside, the bearish flag pattern will be invalidated, and the next levels will be:
2639/2662/2709
A breakdown followed by a candle-hour close below the level is the most important thing for determining the direction.
Donโt rush in now. Most importantly, use a stop-loss after a breakout to avoid manipulation.