ETH/USD 4HR Short Idea

3 Mar 2022

We can see that an "Ascending Channel" is formed, and the price is currently holding on the support level . The scenario I would be waiting for is to see the price dropping below the support level , re-testing it and then continuing it's drop to the first target.

7 Mar 2022

Not

The first target was reached in almost 2 days after the breakout, pulling back very lightly, then the price dropped below the support level. Afterwards bouncing up to the 21 EMA. When it touched the EMA, an engulfing candle was formed. I still think it shall drop to the 2330 level. And then, I will be looking for a Long position opportunity.