📉 $ETH /USDT Short Setup Analysis (1H Chart)
Current Price: ~$1,874.08
🔍 Technical Observations:
Upper Resistance Rejection: Price was rejected right around the 24h high of $1,881.72 and near the upper Bollinger Band ($1,879.66), pushing back below it with a red candle.
RSI Cooling Off: The 6-period RSI peaked near 60 and is currently bending downwards (58.75), showing loss of bullish momentum on the short time frame.
Volume Drop Off: Buying volume has decreased significantly compared to the move into the recent top, showing weak buying pressure at higher levels.
Target Support Levels: The middle Bollinger Band (MB) sits at $1,867.45, aligned with MA(25) at $1,865.94 and MA(99) at $1,863.69, making this a prime area for a pull-back test.
🎯 Trade Plan (Short Idea)
Entry Zone: $1,874 – $1,880 (Look to enter near local resistance rejection)
Stop Loss (SL): $1,889 (Just above 24h high resistance zone)
Take Profit 1 (TP1): $1,866 (Bollinger Middle Band / MA25 & MA99 zone)
Take Profit 2 (TP2): $1,855 (Lower Bollinger Band / swing low support)
⚠️ Use proper risk management and always keep stop-losses strictly in place.
#ETH #ETH🔥🔥🔥🔥🔥🔥 #Ethereum #bitcoin #Binance 🤑
Current Price: ~$1,874.08
🔍 Technical Observations:
Upper Resistance Rejection: Price was rejected right around the 24h high of $1,881.72 and near the upper Bollinger Band ($1,879.66), pushing back below it with a red candle.
RSI Cooling Off: The 6-period RSI peaked near 60 and is currently bending downwards (58.75), showing loss of bullish momentum on the short time frame.
Volume Drop Off: Buying volume has decreased significantly compared to the move into the recent top, showing weak buying pressure at higher levels.
Target Support Levels: The middle Bollinger Band (MB) sits at $1,867.45, aligned with MA(25) at $1,865.94 and MA(99) at $1,863.69, making this a prime area for a pull-back test.
🎯 Trade Plan (Short Idea)
Entry Zone: $1,874 – $1,880 (Look to enter near local resistance rejection)
Stop Loss (SL): $1,889 (Just above 24h high resistance zone)
Take Profit 1 (TP1): $1,866 (Bollinger Middle Band / MA25 & MA99 zone)
Take Profit 2 (TP2): $1,855 (Lower Bollinger Band / swing low support)
⚠️ Use proper risk management and always keep stop-losses strictly in place.
#ETH #ETH🔥🔥🔥🔥🔥🔥 #Ethereum #bitcoin #Binance 🤑