imkeshav

$ETH - Leading diagonal breakdown should correct price by 30%

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imkeshav Обновлено   
KRAKEN:ETHUSD   Эфириум
The entire move from the bottom screams for a correction and the patterns appears to be a leading diagonal, which usually have a sharp correction. Also the bounce is facing resistance at 0.618-0.65 Fib zone (red line), the trend line is also acting as resistance (red arrow)

We can also see bearish divergence where price makes a higher low while RSI makes a lower low, a sign of exhaustion

Leading diagonal is either Wave1 of new impulse move or wave (A) of an ABC, either way there will be a drop and then a bounce, so this looks like an obvious trade for now

ROI is great for a short. Longs should exit

Targets = $130 - $120

ETHBEAR token on FTX also appears to have ended an impulse with wave5 being an ending diagonal, and a breakout appears imminent. This means if token goes up in value, ETH price falls in conjunction i.e people buy this token to short ETH

We also have bullish divergence where price made lower low and RSI higher high


All the best!
Комментарий:
BTW target box is the 0.5-0.618 Fib area of this move up from the bottom
Сделка закрыта: достигнута стоп-лосс цена

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