ETH ANALYSIS: SHORT THE FAKE OUT
ETH ANALYSIS:
ETH has broken OUT of the falling wedge, but I expect this to be a fake out. The trend is still DOWN. Therefore, this pump was to shake out margin positions, and clear liquidity. I expect ETH to fall back to T1 ay 128.60, followed by T2 at 126.50, and T3 at 123.40. The drop back into the green box will initiate a double bottom, and even a possible break below this. I recommend to close short upon hitting support and waiting for further confirmation.
Possible Entries: 130.40-131.40
ETH has broken OUT of the falling wedge, but I expect this to be a fake out. The trend is still DOWN. Therefore, this pump was to shake out margin positions, and clear liquidity. I expect ETH to fall back to T1 ay 128.60, followed by T2 at 126.50, and T3 at 123.40. The drop back into the green box will initiate a double bottom, and even a possible break below this. I recommend to close short upon hitting support and waiting for further confirmation.
Possible Entries: 130.40-131.40
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