$ETH is at $1,933, down 6% in a day after losing $2,000.
I am not chasing it here. My possible entry is a short on the bounce to $2,030-$2,080, SL $2,150, TP $1,920 then $1,833.
Why: downtrend from $2,800, ETF outflows $144.8M, $250M longs liquidated, RSI 24 oversold so a bounce is likely before the next leg down. If $1,833 breaks, next is $1,750. If daily closes above $2,150, this idea is dead.
Not financial advice. Do you think we bounce first or break down first?
I am not chasing it here. My possible entry is a short on the bounce to $2,030-$2,080, SL $2,150, TP $1,920 then $1,833.
Why: downtrend from $2,800, ETF outflows $144.8M, $250M longs liquidated, RSI 24 oversold so a bounce is likely before the next leg down. If $1,833 breaks, next is $1,750. If daily closes above $2,150, this idea is dead.
Not financial advice. Do you think we bounce first or break down first?
