🔴 $ETH/USDT – SHORTS STILL HAVE THE UPPER HAND!
$ETH is currently trading below the EMA50 and EMA200 on the 4H chart, indicating that the short-term trend still leans bearish. ADX at 40.7 confirms fairly strong selling pressure.
📉 ETH SHORT plan:
⟶ Entry: 2,104.28 – 2,110.50
• TP1: 2,064.38
• TP2: 2,035.70
• TP3: 1,992.69
⛔ SL: 2,164.74
⚠️ However, the 4H RSI is only 22.7, and ETH is entering oversold territory, so the risk of a technical bounce is fairly high.
Strategy: Take profit on 50% at TP1, 25% at TP2, and 25% at TP3, and move the SL to the entry point after reaching TP1.
My view: ETH could still fall further, but you shouldn't FOMO into a SHORT after such a steep drop. Prefer to wait for a bounce to find a safer entry point!
$ETH is currently trading below the EMA50 and EMA200 on the 4H chart, indicating that the short-term trend still leans bearish. ADX at 40.7 confirms fairly strong selling pressure.
📉 ETH SHORT plan:
⟶ Entry: 2,104.28 – 2,110.50
• TP1: 2,064.38
• TP2: 2,035.70
• TP3: 1,992.69
⛔ SL: 2,164.74
⚠️ However, the 4H RSI is only 22.7, and ETH is entering oversold territory, so the risk of a technical bounce is fairly high.
Strategy: Take profit on 50% at TP1, 25% at TP2, and 25% at TP3, and move the SL to the entry point after reaching TP1.
My view: ETH could still fall further, but you shouldn't FOMO into a SHORT after such a steep drop. Prefer to wait for a bounce to find a safer entry point!
