BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Hello, Traders!
Monfex is at your service and today we overview ETH/USD.

What do you expect from Ethereum ?

For now ETH locate near the support line of an ascending channel or bearish flag . Maybe here we see a small Head&Shoulders pattern, it looks strong near the support line. But if the blue line of support will be broken, then the bears will probably push the price even further down.
2 scenarious below.

We can assume a long possition by breakout the level of ~ $185
Supposed Trade Signal by ETH/USD - long
  • Buy near $185
  • Take profit ~ $196, $202, $206
  • Stop at $179

And we can assume a short possition by breakout the level of ~ $177,5
Supposed Trade Signal by ETH/USD - short
  • Sell near $177,5
  • Take profit ~ $169, $161, $154
  • Stop at $184

Share your thoughts, ideas about the market under the chart.

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This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Trade active: Breakout - long signal active❗️

Trade closed: stop reached
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